The Ferretti Group has reported a strong start to 2021, with the first quarter of the year showing growth on a number of fronts compared to the same period last year.
First quarter revenue has increased by 40% from €133million to €186million, with Europe and the Middle East accounting for more than half of the revenues. Earnings before interest, taxes, depreciation and amortization (EBITDA) for the first quarter of 2021 stood at €18million, compared to €5.5million at the same time last year.
The Group also reported that new orders, totalling over €300million, already represent 56% of the order intake for the entirety of 2020.
This fantastic acceleration has beaten all our forecasts and gives everyone who works in Ferretti Group twice the satisfaction and energy.
CEO
Ferretti Group
Continuing the positive trend, a record number of new yachts from the Ferretti Group hit the water in the first three months of 2021, with 56 launches taking place compared to 43 in 2020. This includes yachts from almost all of the Group’s shipyards and main brands, with the Riva 50 METRI superyacht FIFTY, the new Ferretti Yacht 1000 and the Navetta 30 Custom Line all making a splash this year.
The start of 2021 also saw the sale of a Wally full custom sailing superyacht, 30.8m (101ft) Wally 101, the first unit sold since the brand became part of the Ferretti Group.
“Record-breaking first-quarter EBITDA and equally extraordinary new order growth - including an extremely significant order for a large Wally sailing yacht tell the story of a Ferretti Group with the wind in its sails and everything points to a very positive 2021”, said Ferretti Group CEO Alberto Galassi.
“The launches are like the dates of a successful show, because this record number in just three months attests to the huge appreciation our boats enjoy and the strength of our production strategies. After excellent performance in 2019 and a basically stable 2020, we were expecting to grow, but this fantastic acceleration has beaten all our forecasts and gives everyone who works in Ferretti Group twice the satisfaction and energy”.
Operating from six production shipyards in Italy, the Ferretti Group is one of the world’s leading motor yacht builders. Along with its own eponymous brand it also owns the Pershing, Itama, Riva, Mochi Craft, CRN, Custom Line and Wally marques. Earlier this year it became the first marine group to release a sustainability report. To get a taste of its iconic designs you can view all Ferretti Yachts for sale.
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