Ferretti Group has announced a record adjusted EBITDA margin of 15.2 per cent, after its Board of Directors approved the preliminary consolidated financial results for the year ending December 31, 2023.

The adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of €169.2 million represented a 20.9 per cent increase on 2022, with a margin of 15.2 per cent, up 110bps (basis points).

The Italian company owns seven brands: Ferretti Yachts, Riva, Pershing, Custom Line, CRN, Itama and Wally. Other financial figures released by Ferretti Group included an order backlog of €1.5 billion, up 15.1 per cent on the previous year, while net revenue from new yachts rose 11.5 per cent to €1,110.9 million.

Riva 130’ Bellissima

Net income rose 38.0 per cent to €83.5 million, while its order intake of €1,120.4 million was in line with 2022. Ferretti Group had a net financial position of €281.1 million, down from €365.0 a year earlier.

Alberto Galassi, Ferretti Group’s CEO, said: “2023 was an extraordinary year for Ferretti Group in terms of both the results and goals achieved. I’d like to emphasise the great importance of the listing on Euronext Milan in June and its very positive reception from the financial community.

“The results highlight remarkable growth in the main economic and financial indicators and two absolute records in our recent history: an order backlog of €1.5 billion and a margin of 15.2 per cent, confirming the solidity of the commercial and industrial strategy announced in March 2022.

Custom Line Navetta 42

“These extremely positive numbers will give substance and quality to a further strengthening of our brands, with investments in research, innovation and sustainability.”

At Boot Dusseldorf in January, Ferretti Group started the year with the world premieres of Wally’s wallypower50 and Riva’s El-Iseo, the brand’s first full-electric powerboat, which also launched the company’s new E-Luxury segment of yachts focused on sustainable technology.

www.ferrettigroup.com