Ferretti Group announces €1.2 billion order backlog
Ferretti Group has confirmed its H1 2022 financial reports, with adjusted EBITDA and net revenue up 30 per cent and 17 per cent (YOY) respectively.
CRN’s 62m Rio
Ferretti Group has announced a €1.2 billion order backlog as part of its H1 2022 consolidated financial results. Its order backlog of €1.218 billion at June 30 was up 49 per cent on a year earlier and 20 per cent on December 31, 2021, while its order intake of €641.9 million during the first six months of this year represented a 30 per cent increase on the same period in 2021 (€493.6 million).
Alberto Galassi, CEO of Ferretti Group, said: “The market is at an extraordinary point, although our strong growth owes particularly to our hard work. We are investing in continued innovation and consistently unveil new models.
“Every aspect is painstakingly considered, from design to technology, while continually looking to reduce our environmental footprint. We are confident that we bring the best of Italian boating to the world and achieve tangible results for our shareholders.”
As of June 30, Ferretti Group’s order backlog included €389.0 million of composite yachts, €400.7 million of made-to-measure yachts, €370.5 million of superyachts and €57.8 million for other businesses including Wally and Ferretti Security Division.
Wallypower58; Photo: Gilles Martin-Raget
The adjusted EBITDA of €69.0 million for the six-month period was a 30.2 per cent increase on H1 2021. Net revenue of €534.9 million in H1 2022 was up 17 per cent on the same period in 2021 and comprised €225.6 million in the EMEA (Europe, Middle East, Africa) region, €171.3 million in the Americas and €38.1 million in Asia-Pacific.
Ferretti Group attributed its strong performance to three main factors: a) commercial: a longer waiting list due to the extensive order book, which means greater pricing power; b) strategic positioning: a stronger presence in the most profitable segments, such as made to measure; and c) industrial: economy of scale in procurement and more efficient absorption of fixed costs.
The Group’s new models in 2022 include CRN’s 62m Rio and 52m Ciao, Custom Line’s flagship 140′, Ferretti Yachts 860 and wallypower58. Ferretti Group includes the Wally, Ferretti Yachts, Pershing, Itama, Riva, CRN and Custom Line brands, operates six shipyards in Italy and serves customers in more than 70 countries through its direct presence in Europe, the US and Asia working with a network of about 60 third-party dealers.