Skip to main content

Ferretti Group approves growth plan

The Ferretti Group approved an 80 million euro (about $105 million) share capital increase to support the group’s relaunch and growth industrial plan.

Ferretti International Holding, the sole shareholder of Ferretti, resolved the capital increase at a recent shareholders’meeting.

The share capital increase the shareholders approved considerably boosts the investment that the Ferretti shareholders, and in particular the majority shareholder — Weichai Group Holding Hong Kong Investment Co. Ltd. — made in Italy.

The result is that the Ferretti Group's capital and finances are “significantly strengthened, thanks to financial instruments allowing the new relaunch and growth industrial plan to be implemented,”the company announced.

"The capital increase of Ferretti International Holding is an essential step forward in pursuing the objectives of the new industrial plan and it is one more demonstration of the Ferretti Group's ability to attract capital in Italy from selective global investors like Weichai Group Holding Hong Kong Investment Co. Ltd., which decided to further invest in one of our country's excellence," Ferretti CEO Alberto Galassi said in a statement.

"I thank the shareholders for their confidence, and in particular the Weichai Group, which confirmed its unwavering will to support the Ferretti Group in the path of relaunch and growth outlined in our new industrial plan by providing the company with the financial means that will allow us to reinforce our leadership worldwide,” Galassi said.

Ferretti International Holding is the holding company of Ferretti, in which the reference shareholder Weichai Group Holding Hong Kong Investment Co. Ltd., The Royal Bank of Scotland Plc and SVP Special Situations LLC, through several investment funds and vehicles related to it, and other minority shareholders, hold interests.

Related

VOLVO-EARNINGS

Volvo Penta Reports Q4, FY22 Results

Net sales of $470 million for the quarter were a 33% increase compared to the prior year period.

Pulse-Report

DEALERS: Are You Improving the Service Experience?

Our monthly Pulse Report survey asks this and other questions about your dealership. Take the survey here.

NMRA-SCHOLARSHIP

NMRA Sets Scholarship Deadline

Students pursuing education in the marine trades can apply for the National Marine Representatives Association awards until April 1.

MARINE-PRODUCTS

Marine Products Reports Record Q4

The builder of Chaparral and Robalo boats reported net sales were up 42% for the quarter and 28% for fiscal year 2022.

1_SHURHOLD

Shurhold Appoints COO

Forrest Ferrari has years of management, business development, IT and quality-assurance experience.

MOBILE-CATCH-CENTER

RBFF, Pure Fishing Partner for a First Catch Center

Pure Fishing will equip a mobile trailer with tackle and gear to bring fishing experiences to areas of South Carolina where participation is low.

Norm

An Oft-Overlooked Sales Opportunity

A recent report from the Recreational Boating & Fishing Foundation showed that women comprise 37% of all anglers. If you haven’t tapped this segment, you’re missing out.

1. 2023 new boat retail outlook

Too Many High-Priced Boats

To wrap up 2022, marine retailers reported lower demand, expressed more negative sentiment and voiced concerns about rising inventory. Boat prices and the economy remained top of mind for dealers in December.

Soundings Nov 2022

New-Boat Registrations Continue to Slide

As the gaudy sales figures from the pandemic continue to return to more realistic numbers, the main segments of the recreational boating industry saw new-model registrations of 4,421 in November, a 30.3% drop from 6,340 during the same time in 2021. .