Thu Nov 9 2017, 16:25 PM
Sustained profits, aggressive new product launches and facility investments show that the Italian conglomerate has returned to health
At a press conference last week at the Fort Lauderdale International Boat Show (FLIBS), Ferretti Group executives outlined plans for the company and forecasted continued growth. Stefano de Vivo, chief commercial officer, said that 2017 sales were had risen to €344m compared to €313m a year earlier. Net income was €16.5 compared to €14.1m in fiscal 2016.
“Six years ago, nobody would have expected that we’d be buying production facilities to facilitate our growth,” de Vivo said during the press conference. “But we’re a healthy company now and are releasing the most new yachts of any builder in the world.”
“We’re going to launch nine new models across the group in 2018,” said de Vivo. “Nobody has done this ever, even before the crisis.” Its Ferretti Yachts brand launched three new yachts in 2017 and will introduce another in 2018. Pershing launched two in 2017 and will debut two more in 2018. Riva introduced two last year and will launch two this year. Custom Line will launch three this year.
The company previewed new models that include the Ferretti Yachts 780, Riva 56 Rivale, 110 Riva Dolcevita, Pershing 140, Custom Line Navetta 42 and Custom Line 120 and Pershing 9X.
In the last two years, Ferretti has also invested €25m in its Ancona facility by building five new sheds and updating six others. De Vivo said Ancona was Ferretti’s most “strategic hub” for big-yacht builds that include all Custom Lines and the new Pershing 140. The company continues to see its new order intakes increase, from €386m in 2015 to €522m in 2017. For its 30m-plus yachts, new orders rose from €150m in 2015 to €276m in 2017.
The CRN division also continues to grow. The launch earlier this year of the 74m Cloud Nine was a milestone for Ferretti’s superyacht division. CRN will also launch the first 50m in its Superconero series at the beginning of next year. A 79m is expected to be completed in 2019 and also a 62m that year. A 74m by H2 Design is also being developed.
Ferretti CEO Alberto Galassi said that CRN would not build beyond 100m. “You have to know your limits,” Galassi said during a press conference at the Monaco show. “We cannot compete where it is not realistic. We’ll let other yards do what they do best.”
The Ferretti Group also announced that Allied Marine, its longtime US distributor, will become an independent dealer, with a new rebranding effort and its own board of directors. “The Ferretti Group of the Americas has been growing for the last three years,” said de Vivo. “Now it is time for the next step of growth.”