Ferretti Group reports record-breaking Q1

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The Wally 101 design was unveiled in late 2019

The Ferretti Group has reported first-quarter revenues of €186 million (about US$224 million), a 40 per cent increase on the €133 million generated in the same period last year. Europe and the Middle East accounted for more than half of revenues. First-quarter EBITDA stood at €18 million, compared to €5.5 million for the same three months last year.

As of April 21, new orders this year totalled over €300 million, pointing to “an extremely positive trend in 2021”, the Group stated. The figure represents 56 per cent of the entire 2020 order intake.

An early render of a cherry interior for the Wally 101

New sales included a Wally 101, the first Wally sailing yacht sold since the brand became part of the Ferretti Group and the brand’s 48th custom sailing superyacht since Luca Bassani founded the company in 1994. Over 30m long, the 101ft sloop has a sail area of 630sqm and is built entirely from carbon-fibre.

Alberto Galassi, CEO of Ferretti Group, said: “Record-breaking first-quarter EBITDA and equally extraordinary new order growth – including an extremely significant order for a large Wally sailing yacht – tell the story of a Ferretti Group with the wind in its sails. Everything points to a very positive 2021.”

The second Custom Line Navetta 30 was among Q1 launches

From an industrial perspective, Ferretti Group reported a record 56 launches in the first quarter, compared to 43 in the same period last year. Almost all the Group’s shipyards and main brands contributed to this record, with major launches including the first Ferretti Yachts 1000, the second Riva 50 Metri, Fifty, and the second Custom Line Navetta 30, following the first sold into Hong Kong.

“The launches are like the dates of a successful show, because this record number in just three months attests to the huge appreciation our boats enjoy and the strength of our production strategies,” Galassi added.

“After excellent performance in 2019 and a basically stable 2020, we were expecting to grow, but this fantastic acceleration has beaten all our forecasts and gives everyone who works in Ferretti Group twice the satisfaction and energy.”