Ferretti Group net revenue rises to over €1 billion
The Group’s approved financials for 2022 include net revenue growth of 14.6% to over €1 billion and adjusted EBITDA of €140 million.
The Board of Directors of Ferretti SpA has reviewed and approved Ferretti Group’s consolidated financial results for 2022. Figures include an order intake of €1,162 million and an order backlog of €1,296 million as of December 31, 2022, which represented increases of 19.6 per cent and 27.6 per cent respectively compared to 2021.
Net revenue increased 14.6 per cent to €1,030 million, while the adjusted EBITDA rose 36.5 per cent to €140 million. Ferretti Group made a net profit of €60.5 million and has a net cash position of €365 million.
Alberto Galassi, CEO of Ferretti Group, said: “These exciting results describe Ferretti Group’s glorious present and tell the story of its future. The luxury yachting market continues to expand, and we have good reason to believe that our results in the coming years will be increasingly positive.
“Ferretti Group has a portfolio of brands that are unique in the world for their breadth, prestige and beauty, and an industrial vision focused on investments in innovation and sustainability: two closely related factors that will increasingly make the difference. I can assure our shareholders and our customers that theirs is and will continue to be a winning choice.”
Made-to-measure yachts represented 36.2 per cent of the order backlog, up from 29.4 per cent in 2021. Composite yachts were down to 29.8 per cent from 36 per cent in 2021, while the rest comprised super yachts (29.7 per cent) and other businesses (4.2 per cent).
Composite yachts made up 42.6 per cent of revenue, compared to 51.7 per cent in 2021, made-to-measure yachts rose to 39.4 per cent from 27.8 per cent in 2021, while super yachts and other businesses contributed 9.3 and 8.7 per cent respectively.
Europe, Middle East and Africa (36.6 per cent) and the Americas (36.2 per cent) dominated total revenues in 2022, followed by Asia-Pacific (9.3% per cent) and other regions and super yachts (18 per cent).