Profit after tax was up 29% over the previous year to €31m
Italy’s Ferretti Group presented its 2018 financial results in Milan today, confirming its growth and financial solidity. According to the company, total Group profit after tax was up 29% to €31m compared to the previous year while consolidated production value rose to €669m, growing by 7.5% compared to €623m in 2017. EBITDA was reported at €53m and the order portfolio through December 31, 2018 was equal to €708m.
In addition, the group said total assets reached €1.14bn in 2018, of which €38.5m was composed of liquid assets. Ferretti has also confirmed the official closing of the acquisition of Wally brand, which it acquired through an exclusive license agreement in January. Ferretti’s portfolio now includes eight brands – Ferretti Yachts, Riva, Pershing, Itama, Mochi Craft, CRN, Custom Line and Wally.
“In the last few years we have created and presented to the world 29 new models and, from 2019 to 2021, we are aiming to produce 27 new serial models with an average length of 97.3ft, pushing us further and further into the construction of large boats,” says Alberto Galassi, CEO of the Ferretti Group. “This is possible thanks to a 2018 that consolidated the group’s position from a complete financial relaunch point of view and certified its indisputable commercial capacity.
“In the navigation world, in exhibitions, in marinas, according to the sector professionals and to the nautical enthusiasts, ‘Made in Italy’ and ‘Made by Ferretti Group’ are the most important things, thanks to a record of style and inspiration that has brought us to where we are today and will lead us to even greater goals in the near future,” Galassi adds.
Furthermore, thanks to the €64m invested in industrial capacity from 2015 to 2018, expansion and renovation works were carried out by the group’s shipyards. In particular, the Super Yacht Yard in Ancona was the focus of an ambitious renovation project that extended the area to over 80,000 sq m and that by 2020 will provide the plant with 10 construction sheds, a 670-tonne travel lift and a private marina with 14 berths.