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Ferretti Group’s record order backlog
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The Italian owner of seven yacht brands has announced an all-time-high order backlog of €1.6 billion.
Ferretti Group has announced a record profit margin and a record order backlog, with the company sharing figures in mid-November after its Board of Directors reviewed and approved the consolidated financial results as of September 30, 2024.
The order intake for the first nine months of the year reached €736.9 million and amounted to over €1 billion about six weeks later, due to a strong order intake led by participation at autumn boat shows. The 2024 sales led to the company’s order backlog to reach about €1.3 billion as of September 30 and an “all-time high” of €1.6 billion in mid-November.
Ferretti Group also announced an adjusted EBITDA of €138.2 million as of September 30, which represented an increase of 10.7 per cent, while a net profit of €62.2 million represented a margin of 16.0 per cent.
Alberto Galassi, Ferretti Group’s CEO, said: “At the closure of the third quarter of 2024, we achieved a new record in profitability, reaching 16 per cent, confirming the strength and effectiveness of our strategy.”
Galassi said the sales of superyachts was a key driver of the positive results, with the company producing metal yachts under the CRN, Custom Line, Riva and Pershing brands, while Ferretti Yachts and Wally brands also produce 24m-plus models.
“In the third quarter of 2024, we observed a significant increase in order intake from the Super Yacht segment, confirming the success of our positioning in this market through the enhancement of our brands,” he said.
“We are also seeing excellent signs from the Composite Yachts segment, which we expect will provide a new boost to order intake. Additionally, the strong results from our participation in the major Mediterranean boat shows and the opening of the American season further contributed to our outlook, being activities that could bring concrete benefits in the short term.”
Ferretti Group produces its yachts across facilities on Italy’s west coast (La Spezia), in the north (Sarnico), and on or near the east coast (Ancona, Mondolfo, Cattolica and Forli), where it acquired a 70,000sqm-plus inland shipyard in the Ravenna province.
Galassi added: “On the production side, we are continuing at a rapid pace with the construction of the Ravenna shipyard, which will soon allow us to expand and further improve our offering, optimising the product mix and consolidating our position in segments with high growth and profitability potential.”
