Ferretti Group at the Cannes Yachting Festival 2016 with the largest fleet of the show
Tuesday, September 6, 2016 4:13 PM
Ferretti Group inaugurates the 2016 - 2017 season at the 39th edition of the Cannes Yachting Festival with its fleet of 22 yachts from 8 to 37 meters, amongst which presenting to the public 6 world premieres of Ferretti Yachts, Pershing, Riva and Custom Line brands:
- Yachts Ferretti 450 and Ferretti Yachts 850;
- Pershing 5X;
- Rivamare and the convertible 76’ Bahamas for the brand Riva;
- Navetta 37, the Group’s flagship and the largest semi-displacement boat ever built by Custom Line.
The boat show in Cannes, the season’s first major international event for the entire yachting industry, was opened with the annual press conference held by the Group, a tradition held year after year. Mr. Alberto Galassi, CEO of Ferretti Group, together with the Chief Commercial Officer of the Group, Stefano de Vivo, presented the main results achieved by the Group during the first eight months of 2016, confirming its global strategy for growth and investment.
"This year our group is a key player at the Yachting Show in France as a star, with 6 world premieres among open, coupe, flybridge and maxi yachts, confirming that our three-year plan for development and the launch of new products is continuing as planned" - said Mr. Alberto Galassi.
"These new models, along with all the other ones on display, form an unrivalled fleet of 22 yachts between 8 and 37 meters. Moreover, we can announce a brilliant economic performance that in many ways exceeded expectation. These achievements make us very pleased with all the work that has been done. In particular, the first eight months of 2016 are characterized by an order intake in line with our objectives and stable positive economic results." From a commercial point of view, as of the 31st of August 2016, Ferretti Group recorded a consolidated order intake of 217 million euros for its serial brands, in line with the budget forecasts for the current year. The Group expects to close 2016 with a total order intake of € 394 million, thus with an increase of 6.2% compared to 2015.
In the first eight months of the year Ferretti Group continued its further market penetration internationally. In terms of consolidated order intake divided by geographies, as of the 31st of August 2016, the area including Europe, the Middle East and Africa accounted for 48% of new orders, while the Americas for 34% and the Asia Pacific markets for 18%.
The success of our commercial strategy and the continuous improvement in terms of efficiency and productivity at each of the Group's construction sites has led, after the first 8 months of the year, to achieve consolidated revenues of 314 million euros, compared to the 250 million as of the 31st of August, 2015.
The EBITDA, as of the 31st of August 2016, reached 34.7 million euros, which is an extremely positive result compared to the breakeven obtained 12 months ago.
These achievements lead to a firmly positive profit after tax in 2016, reaching 10.5 million as of August 31st, 2016, compared to a loss of 16.9 million recorded last year in the same period.