Ferretti Group predicts strong growth for 2023 with order backlog of €1.4b

The Ferretti Group predicts another strong year of growth following the world preview of the 18.24-metre Ferretti 580 yacht at boot Düsseldorf. The Italian-based group announced new models as well as business strategies and project decisions at the German maritime trade fair on Saturday.Ferretti 580 yacht exterior renderingPhoto: Ferretti YachtsThe Group reported that 2022 was decisive in terms of new models and extending the range, with 54 models from Pershing, Wally, Riva, Custom Line, CRN and Ferretti Yachts. These new yachts are all part of a robust investment plan of €68 million in the first nine months of 2022.

In recent years, the Group has used investments to boost production capacity and now boasts around 290,000 square-metres at its various sites, up by 14.5 percent from 2021. This strong trend is also reflected in the financial results for Q3 2022, with revenues at €781.1 million and an order backlog close to €1.4 billion. Alberto Galassi CEO Ferretti Group“This is just the beginning," commented Ferretti Group CEO, Alberto Galassi. “We’ve been determined in recent years to focus on the long term and fuel Ferretti Group’s growth with all the right ingredients: investments in innovation and sustainability, sustained recruitment of high-flying young talents, and initiatives to build on our brands, which are unique in their appeal, history and prestige.”

During the conference the Ferretti Group also discussed newmodels and projects from the Group’s brands, ranging from Wally and its new wallypower58X project, to progress reports on  the wallywhy150, which will make its world debut at the Venice Boat Show 2023. Construction is also proceeding on the wally10 that will be launched in the spring.Ferretti Group yacht fleet in Hong KongPhoto: Ferretti GroupThe main developments at Pershing include the new GTX 116 and the GTX80 project, which is to accompany the flagship from 2024. The official name of the latest Riva 82 yacht was unveiled as Diva, and Custom Line presented its Navetta 38, the first navetta to have a deck level with the water.

“This, in addition to the extremely positive signals we keep getting from the market, is why I’m expecting an exciting 2023, in terms of both orders and all the beauty and wonder that our boats will be bringing to the international yachting scene,” concluded Alberto Galassi.

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