Days after his appointment, Stassi Anastassov and the new Board of Directors reviewed the company’s first-quarter results.

Stassi Anastassov, CEO, Ferretti Group

Just days after Stassi Anastassov was appointed to succeed Alberto Galassi as Ferretti Group’s CEO, the Italian yacht-building group issued highlights of its Q1 2026 financials including €302.1 million net revenue for new yachts, 8.0 per cent down compared to the same period last year. Adjusted EBITDA was €48.7 million and net profit was €21.0 million, down 7.2 per cent and 12.1 per cent respectively from a year earlier.

Anastassov stated: “The first quarter reflected a softer commercial environment and slower order conversion than we would have liked, particularly on order intake. We approach this with realism, discipline and operational focus. Confidence should never be confused with complacency.

“At the same time, the underlying fundamentals of the business remain solid. Our brands remain exceptionally well positioned, margins resilient, and the quality and visibility embedded within our backlog continue to provide an important operational foundation moving forward.”

Ferretti Group’s net backlog stood at €722.3 million as of March 31, 2026, compared to €828.6 million at the end of December 2025. The company’s full-year guidance remains unchanged, with net revenue from new yachts expected to range between €1.25 billion and €1.265 billion.

“More than €400 million of net backlog is already expected to convert into 2026 revenues, providing meaningful visibility as we progress through the year,” Anastassov continued.

“In the current environment, our focus is not on short-term reactions but on disciplined execution, operational excellence and long-term value creation. We remain confident in the long-term strength, positioning and potential of the Ferretti Group ecosystem.”

Anastassov, 64, was appointed and announced as Ferretti Group’s new CEO on May 15. Born in Bulgaria, Anastassov is a Swedish and Swiss citizen who lived as a child in Bulgaria, Egypt, Iran and Sweden, where he studied at Uppsala University.

His extensive global leadership experience across consumer, industrial and manufacturing sectors includes 30 years at Procter & Gamble from 1985-2015. His three decades with the multinational consumer goods corporation included leadership positions across Europe, North America, Asia and the Middle East, plus four years as President and CEO of Duracell.

For the past 11 years, Anastassov has been an investor and held advisory and directorial roles. He currently holds Non-Executive Director roles at JS Global Lifestyle, Better Shelter and other companies.

Ferretti Group also confirmed ‘Tonny’ Tan Ning, 44, as Chairman of the Board of Directors, succeeding Hao Qinggui (2025-26), Jiang Kui (2024-25) and Tan Xuguang (2012-24). As well as Tonny Tan and Stassi Anastassov, the new nine-strong Board of Directors includes Patrick Sun, Zhang Xiaomei, Federica Marchionni, Jin Zhao, Zhu Yi, Donatella Sciuto and Katarína Kohlmayer.

Ferretti Group later announced Tan as director in charge of the Internal Control and Risk Management Systems, and Sun as Lead Independent Director (in compliance with recommendations 13 and 14 of the Corporate Governance Code).

ferrettigroup.com