Ferretti Group continues its upward trajectory, reporting a remarkable marginality of 16.0%, an adjusted EBITDA of €138.2 million, and an order intake that has surpassed €1 billion, resulting in an unprecedented order backlog of €1.6 billion as of today.
Order intake for the first nine months of 2024 reached €736.9 million, totaling over €1 billion due to a robust influx of orders after the quarter-end, fueled by favorable responses from recent boat shows. The current order backlog stands at a record €1.6 billion, reflecting the volume of orders secured since the conclusion of Q3. Net revenue from new yacht sales amounted to €865.3 million, which marks a 3.8% increase compared to the same period in 2023. Adjusted EBITDA of €138.2 million represents a 10.7% increase, with a margin of 16.0%, up by 100 basis points from the first nine months of 2023. The net profit was €62.2 million, closely aligned with the €61.9 million reported in the first nine months of 2023. As of September 30, 2024, the net financial position reflects €149.6 million in net cash. The mid-term guidance remains intact; however, the 2024 forecasts have been cautiously revised, pending the confirmation of order pickups from the American market following the elections in the composite segment.
The Board of Directors of Ferretti S.p.A. convened to review and approve the consolidated financial results as of September 30, 2024, and to organize the upcoming ordinary shareholders’ meeting.
Alberto Galassi, the Group’s CEO, commented: “With the closure of this quarter, we have achieved a new record in profitability, reaching 16%, confirming the strength and effectiveness of our strategy. In the third quarter of 2024, we observed a significant increase in order intake from the Super Yacht segment, confirming the success of our positioning in this market through the enhancement of our brands. We are also seeing excellent signs from the Composite Yachts segment, which we expect will provide a new boost to order intake. Additionally, the strong results from our participation in the major Mediterranean boat shows and the opening of the American season further contribute to our outlook, being activities that could bring concrete benefits in the short term. The Order Backlog as of September 30 stands at €1.3 billion, and by adding the orders received after the close of the quarter, the value is in line with that recorded in the first nine months of 2023. On the production side, we are continuing at a rapid pace with the construction of the Ravenna shipyard, which will soon allow us to expand and further improve our offering, optimizing the product mix and consolidating our position in segments with high growth and profitability potential.”
The Ferretti Group, led by Chief Executive Officer Alberto Galassi, is now one of the world’s leaders in the construction and sale of luxury yachts and pleasure vessels, with a unique portfolio of brands: Ferretti Yachts, Riva, Pershing, Itama, Mochi Craft, CRN, Custom Line and Wally.
Credit: Ferretti Group
Italian yacht builder Pardo Yachts is charting a course for significant expansion into the Middle East, announcing an exclusive dealership agreement with Dubai-based Ocean 360 and a highly anticipated debut at the Dubai International Boat Show 2025. This strategic move underscores the brand's commitment to establishing a strong presence within one of the world's most discerning yachting markets.Pardo 43The partnership with Ocean 360, a leading provider of premium yacht services, will see Pardo Yachts showcase its renowned craftsmanship and innovative designs to the UAE and wider Gulf region. The Dubai International Boat Show, running from February 19th-23rd, 2025, will serve as the ideal platform to unveil the brand's flagship models, the Pardo 38 and Pardo 43.Pardo 38"The Middle East represents a strategically important market for Pardo Yachts' global growth," commented Marcello Veronesi, CEO of Cantiere del Pardo. "Partnering with the established and respected Ocean 360 provides us with the ideal platform to connect with discerning clients who appreciate the unparalleled quality and style synonymous with our yachts."Sebastian Dumitrescu, CEO of Ocean 360, added: "We are privileged to represent Pardo Yachts as their exclusive dealer in the UAE. Their commitment to innovative design and exceptional craftsmanship aligns seamlessly with our dedication to providing world-class yachting experiences. We are thrilled to introduce these stunning yachts to clients throughout the region."Marcello Veronesi, Sebastian Dumitrescu, Bogdan Borascu and Rok Babarovic (photo by Luca D'Ambrosio)Visitors to the Dubai International Boat Show can experience the epitome of Italian yachting excellence firsthand. The Pardo 38 and Pardo 43, both representing the pinnacle of Pardo's walkaround range, will be on display, showcasing the brand's intelligent use of space and unwavering commitment to bespoke luxury. These models epitomize the perfect harmony of aesthetic appeal and superior functionality, offering unparalleled comfort and performance.Cantiere del Pardo was founded in 1973 in Italy. Pardo Yachts, the brand of Cantiere del Pardo dedicated to powerboats, was born in 2016. The first model, the Pardo 43, was launched in 2017. Grand Soleil was founded in 1973 and is famous for its yachts, which ensure performance for regattas, autonomous long-distance navigation, as well as a high level of sustainable consciousness.Credits: Cantiere del Pardo
January 29, 2025
Riva participated in the 34th Palm Beach Cavallino Classic, an annual event dedicated to Ferrari enthusiasts, held from January 23 to 26 at The Breakers and Mar-a-Lago resorts in Palm Beach. This year’s Concours d’Elegance featured over 300 Ferrari collectors and their vehicles.The event began with a luncheon at the Ferretti Group Showroom in Fort Lauderdale, marking the start of the Tour d’Elegance, which concluded at The Breakers. A Riva Aquariva Super, the 33-foot runabout, was showcased at the venue, drawing significant attention. At Mar-a-Lago, attendees were presented with scale models of historic Riva yachts.During the prize-giving ceremony, Riva Classiche, a division dedicated to preserving the brand’s legacy in classic boats, was honored. The Elegance Award winner received an Aquarama Steering Wheel, a symbol of Riva’s iconic craftsmanship and Italian design heritage.The Ferretti Group, led by Chief Executive Officer Alberto Galassi, is now one of the world’s leaders in the construction and sale of luxury yachts and pleasure vessels, with a unique portfolio of brands: Ferretti Yachts, Riva, Pershing, Itama, Mochi Craft, CRN, Custom Line and Wally.Credits: Ferretti Group
January 29, 2025
Baglietto has launched L’Instant, a 40-meter superyacht from its shipyard in La Spezia. The vessel is the first in the DOM 133 series to feature an "interposed" hybrid propulsion system, distinguishing it from earlier models like Bee, Astera, and Jules. The hybrid system, which combines a diesel engine with an ultracompact electrical motor installed between the engine and gearbox, is designed to operate with HVO biofuels, reportedly reducing CO2 emissions by up to 90 percent.The new system occupies additional technical space, leading to modifications in the yacht's layout. The 5.8-meter tender and two Jet Skis are now stored on the upper deck, equipped with a 1600kg davit for handling.Designed by Stefano Vafiadis, L’Instant features an angular profile and customized interiors by Leonardo Santi. Changes include relocating the galley from the main deck to the lower deck, making space for an additional VIP cabin. Both the VIP cabin and the forward master suite include automated windows for natural ventilation, while lower deck guest cabins feature custom portholes with the same functionality.Interior staircases have been redesigned to connect all decks up to the sundeck, where a multi-purpose bar is equipped with a dumbwaiter. The pool area has been replaced with an outdoor gym. Interiors incorporate eco-friendly materials, including carpets and fabrics made from recycled ocean plastic and regenerated industrial waste.Powered by its diesel engines, L’Instant can achieve a maximum speed of 17 knots. In full-electric mode, the yacht reaches speeds of nearly 10 knots.Baglietto Spa is an Italian boat builder based in La Spezia specializing in new aluminum light alloy yachts ranging between 35m and 50m in length and steel and light aluminum alloy displacement megayachts starting at 40m.Credits: Baglietto
January 28, 2025
Dearsan Shipyard has unveiled Queen Yaz, a 50-meter superyacht currently under construction and scheduled for delivery in 2026. The steel hull and aluminium superstructure have already been completed at the Turkish shipyard.The yacht's design is the work of Red Yacht Design, an Istanbul and London-based studio, responsible for both the exterior and interiors. Described as "modern and cozy," Queen Yaz is designed with a focus on outdoor living. The sundeck serves as the main social area, featuring a hot tub, sunbeds, lounge sofas, a bar, and a dining space. Additional lounge areas are located on the bow and main deck aft.The swim platform is another focal point, equipped with a long U-shaped sofa, sun loungers, and folding bulwarks to create extra seating.CEO Murat Gordi commented, “At Dearsan Shipyard, we take immense pride in building yachts that embody innovation and artistry. Queen Yaz is a testament to our team’s passion and expertise, and we are delighted to collaborate with Red Yacht Design & Milimetriq to bring this exceptional yacht to life."Fatih Sürekli, managing director of Red Yacht Design, added, “Designing Queen Yaz has been an incredible journey. We aimed to create a yacht that embodies sophistication while providing ultimate comfort for her guests. The collaboration with Dearsan Shipyard and Milimetriq has been seamless, ensuring every detail aligns with our vision.”Credits: Dearsan Shipyard
January 28, 2025
Sacs Tecnorib has detailed its continued development plans, highlighting its leadership in the Maxi Rib sector and its efforts to expand internationally. A partnership with the investment holding company NUO will support the brand’s internationalization, particularly in the U.S. market. Over the past three years, the company has achieved a compound annual growth rate (CAGR) of 25%, with a production value exceeding EUR70 million.At the Düsseldorf boat show, recognized as one of the world’s largest, Sacs Tecnorib presented its latest product, the Pirelli X430, designed by Christian Grande. Part of the Pirelli Tenders X line, the model features a spacious bow, seating for up to seven guests, and a removable steering wheel to simplify storage in yacht and superyacht garages. Its soft design and customizable accessories are intended to meet diverse client needs.The Pirelli Tenders range remains central to the company’s growth strategy, with recent launches well received. The Rebel model contributed 39% of total sales over the past year, followed by the Strider 13 and the Pirelli speedboats, which now include the P ZERO™ Edition.Sacs Tecnorib has also announced plans for further product developments, new partnerships in untapped markets, and the inauguration of additional production facilities in the near future. At the Düsseldorf show, the company’s stand featured 1,000 square meters of space, showcasing three brands, five boats, and three tenders, underscoring its commitment to innovation and growth.Sacs Tecnorib Spa was established in 2021 from the union between TecnoRib srl and Sacs srl. Sacs tecnorib spa is the official licensee of Pirelli brand inflatable boatsCredits: Sacs Tecnorib Spa
January 28, 2025