Barca Highlights Ferretti's Innovations at Cannes Yachting Festival
Barca and Ferretti's Dynamic Presence at Cannes
Cannes (France), September 11, 2024 – The Ferretti Group, a global leader in the design, construction, and sale of luxury motor yachts, kicked off the nautical season by bringing 21 boats to the Cannes Yachting Festival, including six world premieres from brands such as Custom Line, Riva, Wally, Pershing, and Ferretti Yacht. The company, headquartered in Forlì, reported its best-ever profitability results in the first half of 2024. The figures show that net revenues reached €611 million, a 7.7% increase compared to the first half of 2023, with a net profit of €44 million.
Financial Highlights and Future Trends
- Order intake stood at €514.4 million in the first half of 2024.
- Projected order book at €1.5 billion signals ongoing growth.
One year after successfully listing on both the Hong Kong and Milan stock exchanges, Ferretti Group, which operates seven shipyards, faces a complex international landscape. Alberto Galassi, CEO of Ferretti Group, explains, “Neither the pandemic nor ongoing conflicts have hindered our growth by focusing on quality and elegance.” With plans for continued competitiveness until at least May 2026, the company remains committed to delivering unique and impressive yachts.
Heritage and Future of Ferretti Group
The historic shipyard in Forlì, where the Ferretti brothers established the company in 1987, continues to produce Ferretti Yachts and Itama models. After overcoming significant challenges, Galassi revitalized the brand, which saw a major investment from Chinese capital. Recently, the company experienced a leadership transition as Tan Xuguang stepped down, succeeded by Jiang Kui, ensuring continuity in the strategic direction.
“We are Ferretti Group,” Galassi emphasized at the French show, “we have the strongest brands globally. Every owner and every show expects increasingly beautiful yachts to fall in love with, as displayed here in Cannes.” As the numbers reflect record results, the company plans and produces with a long-term vision to meet customer demands for larger, custom-designed boats.
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This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.