Ferretti Group, the Italy-based holding behind brands such as Riva, Pershing and of course Ferretti itself, has indicated it made €14,1 million in net profit in 2016 making it the first year since the financial crisis of 2008 where the group posted a profit.
Ferretti was established in 1968 as the first marine division of Alessandro and Norberto Ferretti's family business. In 1971, the company delivered its first wooden motor-sailer and by 1982 it began producing boats for sport fishing with a flybridge.
By 1996, Ferretti Group decided to expand into a larger range and set up Custom Line, a division meant to operate in the growing 26-40m range. In following years, the group multiplied acquisitions buying CNA in 1998, CRN in 1999, Riva in 2000, Mochi Craft in 2001 and Itama in 2004.
As the company was preparing for an initial public offering (IPO) after having been acquired in a leveraged buyout by Candover Investments which put the Group's value at €1.5 billion in 2007, the financial crisis led to a significant drop in sales.
In 2009, the company defaulted on its €1,2 billion debt and its creditors, led by the Royal Bank of Scotland, wrote down €560 million of the debt in exchange for 53% in equity from Candover Investments.
In January 2012, 75% of the group was sold to Chinese conglomerate, Weichai in exchange for a €178 million equity investment, a €100 million capital increase and an €80 million revolving credit facility. The deal also saw the Group's debt be reduced to just €116 million, down from €580 million. The remaining 25% were split amongst the Royal Bank of Scotland and Strategic Value Parters in return for a €25 million equity investment.
After going through a series of rough patches, Weichai appointed Alberto Galassi, an international law attorney who had previously run Piaggio Aerospace, to the position of CEO in 2014. In 2015, Galassi, who is interestingly also on the board of directors of the Manchester City FC, predicted a return to profitability by 2017. In 2016, Piero Ferrari, son of Enzo Ferrari, invested into Ferretti Group, acquiring a 13,2% stake in the group and joining its board of directors.
After posting a positive EBITDA of €7 million in 2015 along with a net loss of €29 million, Ferretti Group has bounced back to profitability in 2016 with an EBITDA of €52,7 million and a net profit of €14,1 million, the first it posted since 2008. In the first quarter of 2017, the company has posted a net profit of €4 million already. This year, Ferretti Group is planning to invest €25 million in R&D and €21,4 million to grow production capacity.
Alberto Galassi, CEO of Ferretti Group, commented: " In a three year period Ferretti Group proved to be a company able to achieve a real turn around, obtaining great commercial success, which led to well above expected financial results. The new models have become the most important drivers of growth thanks to their design, quality and high standards of innovation."
Nauta Design is thrilled to announce that the Southern Wind SW108 Gelliceaux has been honored with the ISS Award 2024 in the Best Sail 24-40m category.The prestigious Design & Leadership Award Gala took place on October 30 in Fort Lauderdale, Florida, drawing together some of the most significant figures from the international yachting industry to celebrate this year's exceptional yacht launches.The Gelliceaux, the first in the Southern Wind 108 series, has been recognized by the judges for its innovative approach to sustainable sailing, featuring a state-of-the-art diesel-electric hybrid propulsion system. This unique project, designed from inception to prioritize eco-friendliness, sets a new standard for performance sailing. The judges praised Gelliceaux for its integration of modern design elements that harmonize with its sleek exterior, offering a cohesive and forward-looking sailing experience.Jim Schmicker and Jeremy Peek at ISS AwardsMassimo Gino of Nauta Design expressed pride in Gelliceaux's achievement: “We are pleased and proud that the Southern Wind 108’ Gelliceaux won the ISS Award. We extend our gratitude to everyone involved in the project, from the construction teams at Southern Wind to the talented Farr Yacht Design. A special thanks to the Owners, whose vision and collaboration made the creative process truly rewarding."Gelliceaux is part of the ‘GT’ series of Southern Wind bluewater sailing yachts, which also includes the award-winning SW105 Taniwha and SW96 Nyumba.As one of the first Southern Wind yachts equipped with a hybrid diesel-electric propulsion system, Gelliceaux not only showcases impressive performance, having clinched the overall title at the 2024 St Barth’s Bucket and excelling at the 2024 Ibiza JoySail in the Performance Cruising L division, but also stands out for its striking aesthetic.The yacht's deck design is characterized by clean geometry that embodies the signature Nauta GT look. Its sporty coach roof, adorned with teak and a large central skylight, seamlessly transitions to ‘floating’ bench seats, enhancing both functionality and grace. A distinctive Z-shaped composite coaming gives Gelliceaux an agile profile, while the innovative opening transom creates a staircase leading to the beach platform – perfect for connecting guests with the sea when anchored.The interior of Gelliceaux is a study in elegance, emphasizing a soothing Mediterranean vibe with a warm color palette and refined fabric-lined walls. The two-level saloon features a unique lounge sofa that bridges both levels, contributing to an open and inviting atmosphere.Natural light floods the interior through expansive hull windows and skylights, complemented by soft shapes and rounded edges for a harmonious aesthetic. The expertly designed furniture appears freestanding, enhancing the open space feel and creating a cozy ambiance that is both stylish and sophisticated.Southern Wind is a boutique bluewater sailing yacht shipyard founded in Cape Town in 1991. Since its foundation, SWS has specialized in the production of semi-custom high-performance superyachts. Credits: Nauta Design
November 4, 2024
The Swan Sardinia Challenge, a groundbreaking international sailing event focused on the newly launched ClubSwan 28, concluded successfully yesterday in Villasimius, southeastern Sardinia. Running from October 30 to November 2, the challenge marked the final stage of the 2024 Nations League within the esteemed ClubSwan Racing One Design circuit. The Swiss team Anya Race clinched the overall Nations League title, followed closely by Japan's Swing, featuring Olympic gold medalist Will Ryan as tactician, and the French team Marcello. Swing triumphed in the Swan Sardinia Challenge, with Anya Race taking second and the American team Play Bigger finishing in third.Sailing conditions throughout this exhilarating week were idyllic, permitting eight competitive races among the five national teams. The final day showcased an easterly wind fluctuating between 10 and 14 knots before tapering off below 10 knots.Keisuke Suzuki, owner of the victorious Swing team, expressed his enthusiasm: "I’m thrilled to have won for the first time in this class. I’d love to come back again next year. With only five crew members, communication is crucial."Will Ryan reflected on the final race, stating, “We were very close to the Swiss team, engaging in a competitive back-and-forth that heightened the pressure. This intensity pushed us to perform better and secure our victory. The team did an outstanding job, showcasing impressive downwind speed that helped us navigate tight situations. It’s been fantastic to be a part of this event and demonstrate the ClubSwan 28’s capabilities.”Giulio Gatti, owner of Anya Race, commented on the competition experience: “I had a lot of fun and fully enjoyed the event. Although we expected to win today, that wasn't the case – congratulations to the Japanese team for their exceptional sailing. I hope to learn from them for the next event. As more boats join the fleet next season, it’ll only get more exciting, and the friendships formed here make it all the more enjoyable.”Cecilia Perotti, racing with her team called Out of Comfort Zone, relayed her thrilling journey: “It’s my first time participating in a regatta, and there were moments I truly felt 'out of my comfort zone.' Winning a race was an exhilarating experience, filled with adrenaline until the very end!”“The Swan Sardinia Challenge successfully extended the tourist season in Villasimius beyond October," remarked Gianluca Dessì, the town’s mayor. “This event has showcased the beauty and potential of our region during off-peak times, attracting visitors eager to enjoy the local beaches and excellent sailing conditions.”Giovanni Pomati, CEO of Nautor Swan, praised the event’s showcase of the ClubSwan 28, emphasizing its role in promoting inclusivity in sailing. Luisa Bambozzi, Managing Director of ClubSwan Racing, thanked the local partners for their support in creating a welcoming environment for all participants.Co-organized by the Autonomous Region of Sardinia, this event exemplified the spirit of camaraderie and passion for sailing, setting the stage for many more thrilling competitions in the future.Nautor Swan was founded in 1966 in Pietarsaari, Finland. The builder entered the superyacht market in 1999. Since then, the yard has continued building high-performance sailing yachts in three different lines; ClubSwan, Swan Yachts and Maxi Swan Yachts. Credit: Nautor Swan
November 4, 2024
The impressive 75.75-meter Feadship One, featuring four spacious decks, has set sail with a blend of elegant design and practical layout tailored for both private enjoyment and charter excellence.The vessel exudes luxury and comfort, with strikingly simple exterior lines crafted by Studio De Voogt. The sophisticated interior is designed by Paris-based Gilles & Boissier, renowned for their work on the prestigious Baccarat Hotel in New York.“The goal was to create a masculine yet timeless and elegant design,” explains Thijs Orth, a designer at Studio De Voogt. “The bold forms and predominantly straight lines are enhanced by subtly nuanced surfaces that reflect light, adding visual interest to the yacht. Our collaboration with the engineering team was essential to ensure optimal functionality.”Orth highlights design details such as the chamfered edges on the bow’s bulwark, which gradually flatten as the sheer line extends toward the stern. This design element is echoed in the widebody windows on the main deck and the white-painted superstructure.“To create a softer, more sensual look, we incorporated a pronounced tumblehome viewable from the stern,” states Orth, noting that this curvature continues along the sides of the sundeck roof.On the main deck, a luxurious full-beam VIP stateroom features a private lounge and an integrated balcony that can be enjoyed while cruising, making it a perfect retreat. This expansive suite can also function as a second master stateroom for charter guests.The master stateroom located on the upper deck opens to a terrace complete with a largest tub and adaptable lounging area. The elevated foredeck is designed as a touch-and-go helipad, while the garage below accommodates a 9.50-meter limo tender and a variety of water toys.The yacht boasts a large swimming pool on the main deck's aft section, complemented by a hot tub on the sundeck. The bridge deck features an aft-facing gym surrounded by wrap-around glazing and glass doors that open on three sides. Notably, diagonal teak decking has been introduced, adding a unique visual feature.In contrast to the contemporary trend of terraced main decks, One showcases a traditional transom design with elegant, sweeping staircases leading to a remarkably large swim platform complete with integrated swim stairs. Two inward-folding transom doors provide access to the beach club, illuminated naturally by the glass-bottomed pool above.With accommodation for twelve guests, including a master stateroom, a VIP suite, and four double staterooms on the lower deck, One can host eighteen crew members. The yacht is powered by twin MTU main engines, allowing it to achieve speeds over 15 knots and a range of 5,000 nautical miles at 12 knots.“We thoroughly enjoyed the design process for this yacht,” Orth concludes. “Achieving a look of masculine elegance is challenging, but One successfully embodies a robust yet sleek and chic aesthetic.”One is scheduled for delivery in early 2025, with Arjen van Elk representing her for sale on behalf of Feadship, in collaboration with Edmiston.Based in the Netherlands and with roots dating back to 1849, Feadship was formed as a group in 1949 as a marketing partnership between six Dutch shipyards, de Vries Lentch, Van de Stadt, Witsen & Vis, Akerboom, De Vries Scheepsbouw and Van Lent Shipyard, and De Voogt Naval Architects. Feadship is well-known as one of the Netherlands’ most elite yacht builders and delivers superyachts from 50–100+ meters in length.Credits: Feadship
November 4, 2024
Construction is underway at the Mallorca-based shipyard of Servicios Técnicos Portuarios (STP), marking the start of an €8 million initiative aimed at modernising the facility to accommodate some of the largest vessels in the fleet for refitting and maintenance.To address the growing demand for large yacht services, STP's expansion aims to elevate productivity and streamline operations while expanding the shipyard's capabilities. “We have frequently received requests for mooring spaces for yachts exceeding 100 meters in length, and until now, we have struggled to meet that demand,” stated Joan Rosselló, general manager of STP. “With limited options for large berths in Palma, the new dedicated berths will significantly enhance our repair services and improve workflow across shipyard activities.”This major expansion is poised to invigorate Mallorca's local economy, drawing more significant refit projects to the area. STP estimates that the expansion could generate an additional €50 to €60 million in annual revenue for the region.On the technical side, the shipyard's total area will grow from 130,000 square meters to 162,000 square meters, incorporating 102,000 square meters of land and 60,000 square meters of water space. This enhancement utilizes previously underutilised areas at the edges of the current shipyard footprint, facilitating further development within STP’s existing concession.The waterway expansion will introduce five new berths that can accommodate yachts of up to 110 meters, adding to the existing three superyacht berths. On dry land, STP plans to establish specialized zones for various tasks, including a new covered section specifically for mast removal, repair, and painting.Additionally, STP is prioritising sustainability by installing photovoltaic panels on the new covered areas and the parking canopies. The anticipated solar energy output is expected to power approximately 115 apartments and reduce carbon dioxide emissions by 124 tonnes annually.The new berths will be operational by the end of 2024, while the rest of the works are scheduled for completion in spring 2025.Credits: STP
November 1, 2024
Royal Huisman announces that its impressive 59.7m high-performance sloop, Sarissa, has triumphed in three categories at the ISS Awards Gala held in Fort Lauderdale. The awards were determined and presented by esteemed peers within the superyacht industry, making this recognition particularly significant for the team.Sarissa has been honored with the titles of “Yacht of the Year,” “Best Interior Sail,” and “Best in Sail 40m+” at the International Superyacht Society Awards.Sarissa stands out for its state-of-the-art technology, exceptional naval architecture, and distinctive design, showcasing Royal Huisman’s commitment to innovation and excellence. Constructed using lightweight Alustar® aluminum and carbon composites, Sarissa not only minimizes fuel consumption but also enhances speed and maneuverability. Its forward-facing retractable propulsion system further enhances performance, reliability, and comfort, aligning with the industry's shift toward sustainability. Developed in collaboration with Malcolm McKeon Yacht Design, interior designer Liaigre, and owners’ representative Gregory Monks, Sarissa beautifully marries elegance with functionality, fulfilling the owner’s goal of an environmentally conscious yet high-performance superyacht.Congratulations are extended to the owners of Sarissa, along with heartfelt thanks from the design and build team. Jan Timmerman, CEO of Royal Huisman, states: “On behalf of our team, I would like to express our happiness and honor in receiving these awards. However, while we appreciate this recognition, we remain focused on our future projects, and we understand that a shipyard is only as strong as its next creation."Earlier this year, Sarissa was recognized as "Sailing Yacht of the Year" and "Best Sailing Yacht of 40m and Above" at the World Superyacht Awards 2024. She also garnered five significant awards at Boat International’s Design & Innovation Awards, including "Innovation of the Year."Royal Huisman is a Dutch shipyard established in 1884 in Ronduite, building and refitting custom luxury sailing and motor yachts at its shipyard in Vollenhove, the Netherlands.Credits: Royal Huisman
November 1, 2024