Ferretti S.p.A.
Ferretti S.p.A.
09/06/2022 | News release | Distributed by Public on 09/06/2022 06:34
Ferretti Group at the Cannes Yachting Festival with top ranking yachts and performance: the new electric Riva, five world premieres and an order book worth EUR 1.3 billion.
-The Group presents a fleet of 25 yachts, with five world premieres for the Riva, Ferretti Yachts and Custom Line brands, plus Itama 62RS model year 2022. Riva El-Iseo is the new prototype version of the iconic Iseo with a full electric propulsion system.
-In the pipeline, three new projects for the Riva, Ferretti Yachts and Pershing brands, plus the new fleet of Wally sailing yachts up to 150 feet in length. -In the first half of 2022, revenues totalling EUR 534.9 million are up 17% on the same period in 2021. EBITDA adjusted stands at EUR 69 million.
-The Group received approximately EUR 300 million of new orders since 30 June 2022, representing a substantial growth when compared to the same period in 2021 (~ EUR 200 million), leading to an Order Backlog of more than EUR 1.3 billion.
Cannes, September 6, 2022 - Ferretti Group opens the Cannes Yachting Festival - held from September 6 to 11 - on a high note with a fleet of 25 magnificent yachts, including five world premieres for the Riva, Ferretti Yachts and Custom Line brands. On show are the innovative Ferretti Yachts 860 flybridge, the Custom Line 140' flagship, the Riva 102' Corsaro Super, the magnificent Riva 76' Bahamas Super and the exclusive Riva Anniversario, created by the Yard to mark the anniversary of a legend, plus the elegant Itama 62RS model year 2022.
Another stand-out is the first Riva prototype with full electric propulsion, El-Iseo, which combines the history of the iconic Iseo runabout with environmentally sustainable technology. The innovative prototype was given its world debut at Ferretti Group's seventh Private Preview, organized as always against the gorgeous backdrop of the Monaco Yacht Club.
2022 is a truly special year for the storied Riva brand as it celebrates 180 years since its foundation, representing an important occasion not only to launch iconic models, but also to leave a mark by contributing to a noble cause. Ferretti Group has therefore decided to support the UNICEF 7 Fund created by UNICEF and David Beckham. The aim is to take action in some of the poorest areas of El Salvador and radically transform the facilities available for children, guaranteeing safe spaces in which they can dream and develop skills for their future. Ferretti Group has decided to donate a magnificent Riva Anniversario, which will be auctioned off and the entire proceeds devoted to safeguarding children in El Salvador. The silent auction (www.ferrettigroupforunicef.com) will be open for five months, concluding in Miami next February 16.
In the meantime, expectations are growing about the new products, not least wallywhy150, the innovative new model from Wally, 24 metres in length and 150 GT, that will set new standards in yacht design. The launch is planned for February and the world debut in spring 2023. Also planned in the same period is the launch of the new fleet of sailing yachts, consisting of 101 full custom, 110, 130 and 150.
The Group's other brands are presenting five projects: Riva 82, Ferretti Yachts 580, the majestic InFYnito 90 Ferretti Yachts, Custom Line with Navetta 50 and finally Pershing GTX 80, a model that offers truly massive spaces.
At the 44th edition of this exclusive boat show, the Group organized its now traditional press conference, in which Ferretti Group CEO Alberto Galassi provided a comprehensive overview of the economic situation for the first half of 2022.
Excellent performance for Ferretti Group, with revenues of EUR 534 million, up 17% on the first half of 2021. EBITA adjusted stands at EUR 69 million, a double-digit increase of 30.2% on the first half of 2021 (EUR 53.0 million). Profit rises to EUR 29.9 million, with a margin of 5.9% in the first half of 2022, an increase of 40 basis points compared with the same period in 2021 (5.5%).
The Group received approximately EUR 300 million of new orders since 30 June 2022, representing a substantial growth when compared to the same period in 2021 (~ EUR 200 million), leading to an Order Backlog of more than EUR 1.3 billion (up from €1,016 million as of 31 December 2021), notwithstanding the peak of deliveries that typically take place in the months of July to August.
The current Order Backlog ensures a full coverage of the Group's revenue for 2022 and will cover a significant portion of the Group's revenue for 2023 for the made-to-measure and super yachts segments.
"Beautiful boats produce extraordinary results, and vice versa. This exceptional growth, in a truly magical year for us, is amazing but doesn't surprise us, as it is the fruit of high levels of investment, hard work and careful planning," said Ferretti Group CEO Alberto Galassi."These first six months project us towards a year end that I expect will be even more sensational, in line with the constant trend that for years has kept us at the top. If I think of Riva's new electric prototype and all the new products that keep making our brands more successful, it is an absolute pleasure to be here representing the unique know-how that only Italy is able to bring to the international yachting scene.
This extremely positive situation has been made possible by a solid investment policy and strategic projects implemented by the Group in recent years. In the period 2018-2021, almost EUR 300 million were invested in product development and industrial capacity, followed by an equally important 2022: in the first half alone, investments totalled EUR 37 million. Ongoing investment and a clearly defined strategy to ramp up production capacity and product development mean the Group now has over 284,000 square metres of production space and a product range of 50 models (42 in 2021) in a fleet featuring advanced technology and sustainability, the result of continuous research into propulsion systems, materials and the environmental impact of production.
A wide and exclusive selection of luxury partners work with Ferretti Group throughout the entire duration of the show, delighting guests and visitors with a packed programme of events.
Land Rover is once again official automotive partner, with private aviation leader Flexjet, Frette, Fornasetti, Culti and Venini, with Ethimo providing the elegant outdoor furniture. Seabob returns as a partner, exhibiting the magnificent limited editions with custom livery created specifically for the Group's brands.
Italian excellence is in full view, from Dolce&Gabbana's tailor-made staff uniforms to selected coffee blends from Lavazza and superior wines from La Scolca. Cipriani is providing the catering for guests, who will also be able to enjoy the latest offerings from Campari and end the evening with delicious creations by Flamigni.
-In the pipeline, three new projects for the Riva, Ferretti Yachts and Pershing brands, plus the new fleet of Wally sailing yachts up to 150 feet in length. -In the first half of 2022, revenues totalling EUR 534.9 million are up 17% on the same period in 2021. EBITDA adjusted stands at EUR 69 million.
-The Group received approximately EUR 300 million of new orders since 30 June 2022, representing a substantial growth when compared to the same period in 2021 (~ EUR 200 million), leading to an Order Backlog of more than EUR 1.3 billion.
Cannes, September 6, 2022 - Ferretti Group opens the Cannes Yachting Festival - held from September 6 to 11 - on a high note with a fleet of 25 magnificent yachts, including five world premieres for the Riva, Ferretti Yachts and Custom Line brands. On show are the innovative Ferretti Yachts 860 flybridge, the Custom Line 140' flagship, the Riva 102' Corsaro Super, the magnificent Riva 76' Bahamas Super and the exclusive Riva Anniversario, created by the Yard to mark the anniversary of a legend, plus the elegant Itama 62RS model year 2022.
Another stand-out is the first Riva prototype with full electric propulsion, El-Iseo, which combines the history of the iconic Iseo runabout with environmentally sustainable technology. The innovative prototype was given its world debut at Ferretti Group's seventh Private Preview, organized as always against the gorgeous backdrop of the Monaco Yacht Club.
2022 is a truly special year for the storied Riva brand as it celebrates 180 years since its foundation, representing an important occasion not only to launch iconic models, but also to leave a mark by contributing to a noble cause. Ferretti Group has therefore decided to support the UNICEF 7 Fund created by UNICEF and David Beckham. The aim is to take action in some of the poorest areas of El Salvador and radically transform the facilities available for children, guaranteeing safe spaces in which they can dream and develop skills for their future. Ferretti Group has decided to donate a magnificent Riva Anniversario, which will be auctioned off and the entire proceeds devoted to safeguarding children in El Salvador. The silent auction (www.ferrettigroupforunicef.com) will be open for five months, concluding in Miami next February 16.
In the meantime, expectations are growing about the new products, not least wallywhy150, the innovative new model from Wally, 24 metres in length and 150 GT, that will set new standards in yacht design. The launch is planned for February and the world debut in spring 2023. Also planned in the same period is the launch of the new fleet of sailing yachts, consisting of 101 full custom, 110, 130 and 150.
The Group's other brands are presenting five projects: Riva 82, Ferretti Yachts 580, the majestic InFYnito 90 Ferretti Yachts, Custom Line with Navetta 50 and finally Pershing GTX 80, a model that offers truly massive spaces.
At the 44th edition of this exclusive boat show, the Group organized its now traditional press conference, in which Ferretti Group CEO Alberto Galassi provided a comprehensive overview of the economic situation for the first half of 2022.
Excellent performance for Ferretti Group, with revenues of EUR 534 million, up 17% on the first half of 2021. EBITA adjusted stands at EUR 69 million, a double-digit increase of 30.2% on the first half of 2021 (EUR 53.0 million). Profit rises to EUR 29.9 million, with a margin of 5.9% in the first half of 2022, an increase of 40 basis points compared with the same period in 2021 (5.5%).
The Group received approximately EUR 300 million of new orders since 30 June 2022, representing a substantial growth when compared to the same period in 2021 (~ EUR 200 million), leading to an Order Backlog of more than EUR 1.3 billion (up from €1,016 million as of 31 December 2021), notwithstanding the peak of deliveries that typically take place in the months of July to August.
The current Order Backlog ensures a full coverage of the Group's revenue for 2022 and will cover a significant portion of the Group's revenue for 2023 for the made-to-measure and super yachts segments.
"Beautiful boats produce extraordinary results, and vice versa. This exceptional growth, in a truly magical year for us, is amazing but doesn't surprise us, as it is the fruit of high levels of investment, hard work and careful planning," said Ferretti Group CEO Alberto Galassi."These first six months project us towards a year end that I expect will be even more sensational, in line with the constant trend that for years has kept us at the top. If I think of Riva's new electric prototype and all the new products that keep making our brands more successful, it is an absolute pleasure to be here representing the unique know-how that only Italy is able to bring to the international yachting scene.
This extremely positive situation has been made possible by a solid investment policy and strategic projects implemented by the Group in recent years. In the period 2018-2021, almost EUR 300 million were invested in product development and industrial capacity, followed by an equally important 2022: in the first half alone, investments totalled EUR 37 million. Ongoing investment and a clearly defined strategy to ramp up production capacity and product development mean the Group now has over 284,000 square metres of production space and a product range of 50 models (42 in 2021) in a fleet featuring advanced technology and sustainability, the result of continuous research into propulsion systems, materials and the environmental impact of production.
A wide and exclusive selection of luxury partners work with Ferretti Group throughout the entire duration of the show, delighting guests and visitors with a packed programme of events.
Land Rover is once again official automotive partner, with private aviation leader Flexjet, Frette, Fornasetti, Culti and Venini, with Ethimo providing the elegant outdoor furniture. Seabob returns as a partner, exhibiting the magnificent limited editions with custom livery created specifically for the Group's brands.
Italian excellence is in full view, from Dolce&Gabbana's tailor-made staff uniforms to selected coffee blends from Lavazza and superior wines from La Scolca. Cipriani is providing the catering for guests, who will also be able to enjoy the latest offerings from Campari and end the evening with delicious creations by Flamigni.