Ferretti announces jump in orders in midst of IPO

Milan Stock exchange

Ferretti Group reports new orders totalling more than €465 million for the first nine months of 2019, a gain of 18% over last year

Italy’s second largest luxury yacht builder, the Ferretti Group, today reported new orders totalling more than €465 million for the first nine months of 2019, a gain of 18% over the same period last year.

Coming on the heels of the European boat show season and full summer event schedule, the results were attributed to the launch of five new models under the Riva, Pershing, Ferretti Yachts and Custom Line brands, as well as the relaunch of the Wally brand acquired by the Group in April.

In particular, Ferretti singled out the sales of seven units for the first serial model under the Wally brand – the 48 Wallytender – launched during the Cannes Yachting Festival.  The builder also announced a contract for the Ferretti security Division (FSD) to supply 16 coastal patrol boats to the Arma dei Carabinieri.

“I am very proud of the results achieved,” commented Albero Galassi, CEO of the Ferretti Group. “These numbers seems to confirm our strategy of continuous renewal of our product range, our purchase and development of an exceptional brand such as Wally, and our expansion in the synergistic and a-cyclical FSD business, which is now beginning to see significant results after its start-up phase.”

To read more about the builder’s financial results over the last decade, subscribe to IBI Plus.…

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