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Ferretti officially opens Riva shipyard

Ferretti Group has officially opened its Riva shipyard in La Spezia following a refurbishment.

The ceremony was attended by chairman Tan Xuguang and CEO Alberto Galassi, as well as by local authorities and a delegation from Weichai, the Group’s longstanding shareholder.

The La Spezia production site employs more than 750 workers, including 200 direct employees, and represents a strategic centre for the Group.

The refurbishment covered both the production and management sections of the shipyard in La Spezia – where Riva yachts are produced – as well as the lounge area that offers hospitality to owners, captains and crew.

The total surface area of 64,000sqm, with 33 berths on over 400 linear metres of docks, is made up of four industrial sheds with 21 production stations, plus another two sheds totalling 1,000sqm dedicated to the painting process.

Work at the production centre, which now has photovoltaic plants and exclusive purpose-designed spaces like the Riva Lounge, is focused on seven Riva models from 76ft to 130ft. When fully operational, the site will make it possible to launch another 30 boats a year of up to 40m in length.

The open follows on from the release of Ferretti’ latest financial results which show the order backlog surpassed €1.6 billion in the first quarter of 2024, a 10.2% increase when compared to 31 December 2023.

Order intake in Q1 2024 reached €266.6 million and net revenue for new yachts was €313 million, an increase of 11.7% when compared to Q1 2023.

Adjusted EBITDA was €48.2 million, an increase of 20.5% when compared to Q1 2023 and a margin of 15.4%.

Net profit was €22.2 million, an increase of 19.4% when compared to Q1 2023.

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