Ferretti Group posts big gains in first quarter 2021

CEO Alberto Galassi says "everything points to a very positive 2021"

author icon By APB Staff | 22 April 2021

Ferretti Group reported a significant rise in first quarter 2021 results compared to the same quarter 2020. First quarter revenues rose 40%, from €133 million to €186 million, with Europe and the Middle East together accounting for more than half of revenue. First quarter EBITDA rose from €5.5 million to €18 million, year on year. The value of new orders currently totals over €300 million, which Ferretti said represented 56% of the entire 2020 order intake. The Italian yachting group, one of the biggest names in the global yacht market, said this figure points to a good year in 2021.

The Group, which includes the Ferretti Yachts, Pershing, Riva and Wally brands, launched 56 yachts in the first quarter of 2021, compared to 43 for the same period in 2020.

Among the launches are the new Ferretti Yacht 1000, the Riva 50 Metri and the Navetta 30 Custom Line, one of which recently arrived in Hong Kong for a local client. Ferretti brand Wally has also just announced the sale of a new 30-metre custom sailing yacht built entirely from carbon fibre.

“Record-breaking first-quarter EBITDA and equally extraordinary new order growth… tell the story of a Ferretti Group with the wind in its sails and everything points to a very positive 2021”, said Ferretti Group CEO Alberto Galassi. “After excellent performance in 2019 and a basically stable 2020, we were expecting to grow, but this fantastic acceleration has beaten all our forecasts.”

Ferretti Group is represented in Asia by Ferretti Group Asia-Pacific, which has recently completed a new distribution agreement in Thailand.