Ferretti Group says year-to-date revenue up 22 percent

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The company will debut five new yachts in Cannes

The company will debut five new yachts in Cannes

The Ferretti Group announced it had recorded a year-to-date consolidated order book for serial brands equal to €218 million, or about $252 million, in line with the budget estimates for the current financial year.

The group expects to close the year with a total purchase order for serial brands of €450 million ($521 million).

From a geographic point of view, in percentage terms on consolidated order book, as of Aug. 31, Europe, the Middle East and Africa contributed 49 percent of new orders, Americas 36 percent and Asia Pacific 15 percent.

After the first eight months of 2018, the Group achieved consolidated revenues of €420 million ($486 million), up 22 percent compared to the same period of 2017. The estimates for 2018 foresee a production value of €704 million ($815 million).

“The figures for the first eight months of 2018, characterized in particular by a production value higher than last year of 22 percent, confirm that we are on the right course,” said Ferretti Group CEO Alberto Galassi in a statement, adding that almost 70 percent of revenues were the result of successful sales of models introduced in the past four years.

The company will bring 25 yachts, including five new models representing three of the group’s brands, to the Cannes Yachting Festival that kicks off today and runs through Sunday.

New model debuts include the Ferretti Yachts 670, a 120-foot Custom Line, a 42-foot Custom Line Navetta, a 110-foot Riva Dolcevita, and a 66-foot Riva Ribelle.

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