Ferretti Group saw profits jump to €61.9 million for the nine months ended September 30 2023.
The 30% rise from the same period last year has been put down to successes at last year’s boat shows which saw excellent sales results.
“The positive trend in fiscal 2023 is confirmed by the financial results reported for the first three quarters of the year, and particularly by even better margins and the sustained growth of the order backlog,” said Alberto Galassi, the Group’s CEO.
“The huge success achieved by Ferretti Group at this season’s boat shows in the Mediterranean and Fort Lauderdale again demonstrates that our ongoing efforts are being rewarded by excellent sales results. This is one of the reasons for our focus on the Group’s shipyards, and on Ravenna in particular, in order to expand Ferretti Yachts’ new sustainable “INFYNITO” range and to increase production capacity, reacting promptly to market expectations.”
Order backlog
The Group currently has an order backlog of €1.5 billion, a 6.6% increase compared to the first nine months of 2022 and revenue of €856.4 million, an increase of 9.8% from 2022.
The order intake was €875 million in the first nine months of 2023 with composite yachts accounting for almost 30% and made-to-measure yachts almost 38%.
Superyachts amounting to 29% and other businesses including FSD and Wally sail almost 4%.
Total revenue
In geographical areas, North, Central and South Americas accounted for almost 27% of total revenue, in the period, down from 37% in 2022.
Europe, the Middle East, and Africa reached almost 42%, up from 37% and the Asia and Pacific region accounted for 12% of total revenue, up from 8% in 2022.
For the future, the Group is planning to expand its Made-to-measure offering into larger alloy yachts, developing new alloy-hulled super yacht models under its iconic Riva, Wally, Pershing, and Custom Line brands.
In addition, the Group says it will also broaden both its yacht brokerage, chartering and management services and its after-sales and refitting services and extend its brand extension and licensing activities and further expand into the security and patrolling market.
