In the latest financial disclosure Ferretti SpA reported strong performance for the first nine months of 2023. The Board of Directors officially approved the Consolidated Periodic Financial Information as of September 30, 2023.
The key financial highlights include a significant increase in revenue, reaching €856.4 million, marking a 9.8% surge from the same period in 2022. The adjusted EBITDA also showed impressive growth, hitting €124.8 million, a substantial 17.7% increase from the figures reported in the first nine months of 2022. The adjusted EBITDA margin stood at 15.0%, representing a notable 100 basis points increase from the previous year.
The order backlog experienced a healthy growth of 6.6%, reaching approximately €1.5 billion, showcasing sustained demand for Ferretti’s offerings. The net profit for the first three quarters of 2023 surged by 30.6%, totaling €61.9 million. The Group reported a substantial order intake of €875.0 million, reflecting a continued strong demand for Ferretti’s yachts. Ferretti Group maintains a robust financial position, with a net cash position of €288.0 million.
Alberto Galassi, the Chief Executive Officer of Ferretti Group, expressed confidence in the positive trend observed in fiscal 2023. He highlighted the commendable financial results, emphasizing improved margins and sustained growth in the order backlog. Galassi attributed the success to the dedicated efforts of the team and spotlighted the Group’s achievement at recent boat shows, signaling excellent sales results.
Galassi outlined strategic plans, underscoring the focus on Ferretti Group’s shipyards, particularly in Ravenna. The goal is to expand the Ferretti Yachts’ new sustainable INFYNITO range and increase production capacity, responding promptly to evolving market expectations. The Group reaffirms its mid-term guidance, signifying a commitment to sustained success and agility in addressing dynamic market demands.
Credits: Ferretti Group
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