The Ferretti Group has kicked off the new yachting season on a high note, showcasing an impressive fleet of 21 stunning vessels at the Cannes Yachting Festival, including six brand new launches across its prestigious brands: Custom Line, Riva, Wally, Pershing, and Ferretti Yachts. This event runs from September 10 to September 15 and serves as an important platform for the Group to highlight its strategic vision and innovative product developments.
Underlining the strength of its operations, Ferretti Group has reported record profitability for the first half of 2024, with a net income of €44.0 million, reflecting a 7.6% increase from the previous year. The Group’s net revenues from new yachts reached €611 million, a 7.7% growth, while adjusted EBITDA climbed to €96.7 million – a notable 15.9% increase over the same period in 2023. The order intake in the first six months stands strong at €514.4 million, contributing to a robust backlog of €1.5 billion.
"Ferretti Group represents the pinnacle of yachting excellence with the world’s most renowned brands. Our fleet here at Cannes not only meets but exceeds the aesthetic and functional expectations of boat enthusiasts," stated CEO Alberto Galassi. He emphasized the Group's commitment to long-term planning and production, aimed at catering to the rising demand for bespoke, larger yachts.
This year's festival marked the launch of remarkable new models including the Custom Line Navetta 38, known for its impeccable integration of indoor and outdoor spaces, and the striking Pershing GTX80, designed for both comfort and exhilarating performance with its spacious sundeck and innovative SeaScape feature. Also making waves at the festival is the Ferretti Yachts INFYNITO 80, which stands out with its sustainable features and fluid design, embodying the Group’s pioneering approach to yachting.
The heritage brand Riva is also making headlines with the debut of Riva El Iseo, a modern electric powerboat that marries classic design with cutting-edge technology. Additionally, Wally introduces the innovative wallywhy100, boasting a single-level layout and expansive glazed superstructure for a luxurious on-water experience.
As it continues to grow, Ferretti Group is focused on expanding its tailor-made offerings, particularly in the superyacht market, while bolstering production capabilities at its various shipyards. With plans for over 25 new launches slated from 2024 to 2026, the Group reinforces its commitment to innovation and excellence in the yachting industry.
The festival is further heightened with partnerships from renowned luxury brands such as Range Rover and Flexjet, and exquisite collaborations with Italian names like Dolce & Gabbana and Lavazza, making this event not just a showcase of yachts, but a celebration of luxury living.
The Ferretti Group, led by Chief Executive Officer Alberto Galassi, is now one of the world’s leaders in the construction and sale of luxury yachts and pleasure vessels, with a unique portfolio of brands: Ferretti Yachts, Riva, Pershing, Itama, Mochi Craft, CRN, Custom Line and Wally.
Credit: Ferretti Group