Ferretti

Stefano de Vivo is leaving his role as chief commercial officer with Ferretti Group and managing director of Wally.

The Italian builder reported record margin of 15.2% and net income of $90.2 million, a 38% increase YoY.

The expansion is a “key milestone in consolidating the Ferretti Group Superyacht Yard as a strategic multibrand yacht construction hub.”

Net revenue was $635.51 million, an 8.6% increase over 2022, and the company became the first to be listed on both the Hong Kong Stock Exchange and the Euronext Milan.

Italian builder announced that the IPO resulted in a market capitalization of US$970 million.

The conglomerate saw revenues increase by 40 percent, with a record 56 yachts launched in the first quarter.

Ferretti Group and Sanlorenzo create a new venture to take over the ailing Perini Navi yard.

The company announced a $15 million investment for service center in Fort Lauderdale.

It’s the first Italian yard is the first to reach the milestone.

The company said orders were up 20 percent in 2019 compared to the previous year.

Ferretti’s new ad campaign, “Just like Home,” focuses on a “lifestyle allure” designed to “elevate the brand image internationally.”

The company said the stock valuation was too low and that it will hold another IPO after it shows the “markets what we are worth,” according to CEO Alberto Galassi.

The technical- and experience-based training event is designed for captains and chief engineers working aboard the group’s yachts.

In the middle of its IPO, the Italian company said orders for new boats are up 18 percent for the first three quarters compared to a year earlier.

The Italian builder plans to list about 30 percent of its stock and begin trading Oct. 16.

The initial public offering comes as sales grow in 2019.

The company will have an office, workshop and parts department at the facility.

The Italian conglomerate reported profits of $35 million for fiscal 2018

Reuters reports that the Italian conglomerate is preparing to return to the Milan stock exchange.

The Italian conglomerate will invest $95.8 million into Wally over the next four years.

The is now group world’s second-largest builder in the 78-plus-foot category.

The Ferretti Group’s year-to-date order book is €218 million, or $252 million, which is in line with its budget estimates.

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

Ferretti Group is holding its Convergence training and refresher conference for vessel captains and chief engineers March 1st through 3rd in Dubai.