Ferretti S.p.A has announced its consolidated preliminary financial results for the fiscal year ending December 31, 2023. The company reported significant growth across key performance indicators, showcasing an impressive double-digit increase in net revenue from new yachts, which surged to €1,110.9 million, up by 11.5% from the previous year’s figure of €996.1 million.
The announcement also highlighted a record-setting adjusted EBITDA margin of 15.2%, representing a remarkable milestone for the group. Adjusted EBITDA reached €169.2 million, marking a substantial increase of approximately 21% from the previous year. Net income also saw a notable uptick, climbing by 38% to €83.5 million compared to the previous year’s figure of €60.5 million.
Mr. Alberto Galassi, Chief Executive Officer of Ferretti Group, expressed his satisfaction with the company’s performance, characterizing 2023 as an extraordinary year marked by significant achievements. Galassi attributed the success to the company’s strategic initiatives and underscored the importance of the listing on Euronext Milan in June, which was met with a positive response from the financial community.
Galassi emphasized Ferretti Group’s commitment to further strengthening its brands through investments in research, innovation, and sustainability. Notably, the group showcased Riva El-Iseo, its first full-electric powerboat, at the Düsseldorf Boat Show, signaling its dedication to promoting sustainable yachting practices.
Looking ahead, Ferretti Group has outlined its guidance for 2024 and reaffirmed its medium-term objectives. With a robust order backlog of €1.5 billion and a solid margin, the company is well-positioned to capitalize on growth opportunities and continue delivering exceptional value to its stakeholders.
The financial disclosure provided by Ferretti Group underscores the company’s commitment to transparency and accountability. While the preliminary results for 2023 have not been audited, they reflect the company’s strong performance and strategic direction moving forward.
Credit: Ferretti Group
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