May 03 2022
03 May 2022
Ferretti Group reports strong financial health as we enter the second quarter of 2022. With an order intake of €394,000,000, the Italian yacht builder saw a 97.2 percent increase in orders when compared to the same period last year. The firm’s order backlog is also up significantly as it reached €1,320,000,000 – 30 percent more than where it stood on the 31st December 2021.
If we break this order backlog down by segments: composite yachts reached €439,000,000; made-to-measure yachts hit €407,000,000; superyachts struck €417,000,000; and all other vessels capped out at €58,000,000.
“Every month we receive more orders than we can process,” Alberto Galassi, Executive Director and CEO of Ferretti Group, commented. “That’s why we have a lengthy waiting list for all of our unique iconic brands. In light of this, our clients are placing their orders, knowing that the delivery time will take at least two years. It is expected that there will be a continuing demand in this booming market”.
In terms of revenue, Ferretti Group hit €256,400,000 at the closure of Q1 2022, representing an increase of approximately 37.9 percent when compared to Q1 2021. To break this down regionally: EMEA represented the lion’s share as it reached €127,600,000; AMAS was also highly successful for Ferretti as it brought €63,800,000; while APAC raised €14,600,000; the remaining €50,500,000 was driven from the rest of the world.
The adjusted EBITDA equaled €31,600,000 and Net Profit reached €13,100,000. During this quarter, Ferretti Group was successfully listed on the Hong Kong stock exchange, and the company raised around €210,000,000 of net proceeds that will help to accelerate growth.
Ferretti Group also had a strong output this quarter as it delivered 48 yachts: 41 composites, six made-to-measure and one superyacht.
©️ By Alexander Griffiths / SuperyachtTimes