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Ferretti Group Reports Strong Q1


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.

2_Ferretti_Navetta 30.2_Launch_Fleet

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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