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Ferretti Group Reports Strong Q1

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Ferretti Group said strong sales in Europe and the Middle East helped boost first quarter revenues by 40 percent compared with the same quarter in 2020.

The Italy-based group today reported revenues of EUR186 million ($224 million) for the quarter, with more than half of its sales made in the aforementioned regions.

Also for the quarter, new orders totaled EUR300 million ($360 million), which Ferretti said was equal to 56 percent of the group’s entire 2020 order book.

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Ferretti Group said it launched a record 56 yachts and superyachts in the first three months of the year, representing nearly all of the group’s brands. A 30-meter, carbon fiber Wally sailboat was the first sailing yacht sold since Wally joined the group in 2019.

“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,” Ferretti Group CEO Alberto Galassi said in the statement. “We were expecting to grow, but this fantastic acceleration has beaten all our forecasts.”

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