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Ferretti Group announce strong growth at Cannes

Business

During the opening press conference at the 38th edition of the Cannes Yachting Festival which is currently being held in the French Riviera, the Ferretti Group presented a review of the first eight months of the 2015 financial year. Reporting strong growth for the Italian company, CEO Alberto Galassi announced positive EBIT and cash flow and a 105% increase in orders intake, amounting to a total of €253,000,000.

The initial review of the key figures achieved this year are fully in line with the targets announced at the presentation of the Group’s development and growth strategic plans for 2015-2017, focusing on the further development of the Group’s core brands. Galassi noted this is largely due to Product Research & Development investments totaling €50,000,000, which are supporting the launch of as many as 27 new models.

Galassi stated, “This year, at Cannes, our Group presents six world premieres, confirming our commitments, continuous brand investments and strong focus on product development. In particular, we are very satisfied with the brilliant results achieved in the first eight months of 2015, showing a substantial increase in orders intake, as well as positive cash flow and EBIT performances, and validating the effectiveness of our strategy for growth through continuous product range innovation.”

Furthermore, geographically, in the first eight months of 2015, the Group has continued its sales growth on an international level, particularly in Europe, the Middle East and Africa, and the Group’s orders intake as at 31 August 2015 shows a notable 187% increase as against the first eight months of 2014.

A considerable increase has also been seen in orders in Asia Pacific, equal to 96% in the consolidated orders intake as against 31 August 2014, whilst orders in the Americas shows a 20% increase.

As to the percentage breakdown of the total consolidated orders intake by geographical area as at 31 August 2015, Europe - Middle East - Africa accounts for 59%, Americas for 22% and Asia Pacific for 19%. Ferretti Group’s cash flow and EBIT figures as at 31 August 2015 also show positive performances as against the first eight months of the year 2014.

By Gemma Fottles

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