Italy's Ferretti Group released its preliminary annual figures for the year ended August 31, 2009 at the start of this year's Cannes International Boat Show. Although the year was characterised by a particularly negative macro-economic situation, the group outperformed the market with annual sales of around 800m a 12 per cent decrease over the 900m that was generated last year. This compares to a 20-30 per cent decline in the total general market, Ferretti claims.

"The year which has just ended was a complex one for our group, but we have overcome it and are now stronger than before," said CEO Norberto Ferretti at the company's 7th annual meeting in Cannes. "It is important not to stop, to do more and more, continuously renewing ourselves and seizing the increasing technological and organisational challenges that characterise and continue to characterise the nautical industry."

The last 12 months have been a busy year for Ferretti. At the end of July 2009, the group completed a major debt restructuring and appointed its new Board of Directors and Salvatore Basile as CEO.

Ferretti continues to implement a series of measures aimed at strengthening the synergies of the group, which encompasses nine brands Ferretti Yachts, Pershing, Riva and CRN, among others. The group is now preparing to present 15 new yachts, beginning with the Cannes International Boat Show. Ferretti is currently displaying 37 yachts at Cannes, three of which are world premieres the Ferretti 560, CRN 43 "Sofico" and the Riva's 86' Domino.

The company says that five new models will be displayed at the 2009 autumn boat shows and another 10 new yachts will be launched by the end of October 2010.