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11 May 2023

Ferretti closes their first quarter with positive trends galore

The Board of Directors of Ferretti S.p.A. examined and approved the Group’s consolidated financial results for the first quarter of 2023, which demonstrated an overall growing trend starting with the order backlog, which reached Euro 1,496.3 million, +15.4% compared to 31 December 2022. Order intake also rose to EUR 307.5 million and net profit to EUR 18.6 million.

Other figures: net revenue totalled EUR 280.3 million, +9.3% compared to 2022, profit before interest, taxes, etc. was EUR 40 million, +26.6%, and gross operating profit grew by +14.3% compared to last year.

“The luxury yachting market continues to show signs of strong expansion,” commented Alberto Galassi, Ferretti Group CEO, “and, once again, Ferretti Group demonstrates keen vision and farsightedness, as witnessed by the important acquisition of the San Vitale Shipyard in Ravenna, a key moment in a growth strategy aimed at defining the future. The great interest shown by the financial community after the Group’s first Capital Markets Day and the more than positive financial figures recorded in the first quarter of 2023 are further proof of our solidity and confirm once again to shareholders and customers that their trust is well placed.”

As for the results in individual segments, the Composite yachts reached 147.3 million, (was 109.8 million in 2022) the Made-to-measure yachts 99.9 million, about 35.6 per cent (was 96.1 million) and the Super yachts division 18.1 million or approximately 6.4 per cent (was 9.6 per cent in 2022).

In terms of revenue by geographic area, the EMEA region leads with 135.2 million, followed by AMAS with 80.0 million and the APAC region with 32.0 million.

ferrettigroup.com

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