Skip to main content

Ferretti Group experienced strong growth in 2017

Ferretti’s Custom Line is working on a new 106-foot yacht.

Ferretti’s Custom Line is working on a new 106-foot yacht.

Ferretti Group said it will hire 80 people across its five Italian shipyards after it experienced double-digit growth in 2017.

The company gave financial results from 2017 and its outlook for this year during an investment meeting in Milan on Tuesday.

The group registered a consolidated production value equal to 623 million euros last year, about $767.6 million, demonstrating 10.8 percent growth compared to 562 million euros ($692.5 million) in 2016.

Earnings before interest, taxes, depreciation and amortization grew 11.3 percent compared to 2016, reaching 59 million euros ($72.7 million).

In 2017 the group’s profit after taxes was 24 million euros ($29.6 million) and a growth of 71 percent.

The company said that 2016 marked the first year of net profit since 2008; in 2015 it had a 29 million euro operating loss (-$35.7 million) versus a 14.1 million euro profit ($17.4 million) in 2016.

The company’s total assets reached 971 million euros ($1.19 billion), of which 46 million ($56.7 million) composed by liquidity assets.

"The fantastic results of 2017 satisfy us but do not surprise us, because they are the mathematical and natural product of the extraordinary commitment that the whole group has expressed over the last years,” said Ferretti Group CEO Alberto Galassi in a statement.

“The numbers prove it: thanks to the decisive support of the Weichai Group and Mr. Piero Ferrari, the company has achieved a record profit this year, rose to 24 million euros,” Galassi said. “By decision of the shareholders, the cycle profit will be entirely reinvested in research and development on new models, which will be added to the 30 developed in recent years. The production capacity of the group's six shipyards and the workforce also grew, demonstrating that yachting, if managed at best, creates important job opportunities in Italy as well.”

From 2015 to the end of 2018, 90.8 million euros have been invested and allocated to new investments in R&D and in new products development, for a total of 30 new models, including eight in 2018

The outlook for 2018 foresees a production value of 704 million euros ($867.2 million). 



Industry Pushes Back Against Speed Restrictions

A NOAA Fisheries proposal would restrict boats 35 feet and larger to a 10-knot speed limit along the East Coast to protect right whales from vessel strikes.


Magonis Opens Connecticut Office

The Spain-based, electric-boat builder offers an 18-footer that’s available with motors from Torqeedo and Mag Power.


Bill Seeks to Increase Youth Fishing

The bipartisan Coastal Fishing Program Act of 2022 would ease barriers to accessing the outdoors in underserved communities.


Fall Is in Full Swing

With the autumnal equinox ushering in a new season today, the fall boat-show circuit is in high gear. Here are some recent reports and a look at what’s to come.


Manufacturer Confidence Drops

Still, U.S. builders remain largely optimistic despite ongoing constraints with the supply chain and workforce, as well as yesterday’s interest rate hike.


Defender Adds TEMO Electric Boat Motor

Defender Industries is the official U.S. dealer for the French company’s lightweight, portable electric motors.


Twin Disc Sells Belgium Facility

The transmission manufacturer is still using the facility in a leaseback transaction as it looks to reduce costs.