[dropcap]P[/dropcap]assion ranks first at the Ferretti Group exhibition area in Cannes. Not a chance metaphor since on the stage, close to the CEO and the Chief Commercial Officer, the group shows the helmets of the two Ferrari car racers, greeting the two in a friendly fashion, Sebastian and Kimi. Sit in the first row, we find Mr Piero Ferrari, now in his new position of Ferretti Group’s shareholder, after his recent acquisition of the 13% of the share capital through F Investments, the holding company controlled by the Ferrari family.
So, family introduced (Mr Ferrari is Mr Galassi’s father-in-law), after a quick thanks also to “Batman & Robin” (Mauro Micheli and Sergio Beretta of Officina Italiana Design), the press conference starts following the already consolidated exuberant communication format, where Mr Alberto Galassi, CEO of Ferretti Group, proudly, and moved by his great enthusiasm, diplays all the succesfull results achieved by the group. Very proud of being at the show with the largest fleet and the greatest number of world premieres, he announced:
“This year our group is a key player at the Yachting Show in France as a star, with 6 world premieres among open, coupe, flybridge and maxi yachts, confirming that our three-year plan for development and the launch of new products is continuing as planned.”
The group, confirming their return to profitable results and order intakes in line with the budget (see below their note), exhibited in Cannes 6 world premieres, a fleet from 12 to 37 meters: Yachts Ferretti 450 and Ferretti Yachts 850, Pershing 5X, Rivamare and 76’ Bahamas (Riva), Navetta 37 Custom Line.
The press conference ends with Mr Galassi proudly showing the video of the private concert-event “Blue Wonderful” by Elton John. The show, a co-production between Ferretti Group and the Yacht Club de Monaco, took place the week before the Cannes Yachting Festival, in the extraordinary setting of the YCM Marina surrounded by 30 yachts, representing all brands of the Ferretti Group. Sir Elton John entertained international guests with his solo piano concert performing his most celebrated songs. The concert opened the Private Preview weekend, the much anticipated event during which Ferretti Group presented its whole fleet.
The Ferretti Group’s six world première models in Cannes
Ferretti Yachts 850
A luxurious flybridge that offers the experience of living in a loft surrounded by the sea, is the latest masterpiece in the nearly fifty-year history of a brand that has conquered all major international markets. With four units sold, the new yacht is already an extraordinary international success.
Ferretti Yachts 450
It is the model with which the brand returns to dominate the yachts of strategic importance with size between 40 and 50 feet. This flybridge is distinguished by the hull geometry, the amplitude of the volumes, elegance and functionality in setting the interior by enhancing a family feeling with the “big brother” Ferretti Yachts 550, one of the biggest recent successes of the brand.
Rivamare
New icon of style and design that once again redefines the rules of timeless elegance and writes a new page in the more than 170 years of Riva history. The new open model from Sarnico, with already 8 units sold in less than three months, is a gem with sinuous lines, precious materials and unique details, a worthy heir of masterpieces like Aquariva Super and, before that, Aquarama. A contemporary masterpiece.
76’ Bahamas
The new “convertible” Riva yacht inspires from the coupe platform of 76 ‘Perseus “Convertible Top” technology, Ferretti Group exclusive patent presented for the first time on 88’ Florida. 76 ‘Bahamas has the DNA of a modern Riva: a synthesis of tradition and innovation, elegance and performance. The Mediterranean style of the interior offers also an unforgettable yachting experience.
Pershing 5X
The first model of the “Generation X” Pershing is the new coupe of the fleet: more and more advanced, more and more surprising. The letter X – aeronautical code referring to extreme performance and technological evolution – evokes that inexhaustible urge to discover new horizons at great speed. Lines, propulsion, performance and style of Pershing 5X have captivated audiences in no time, with six units already sold.
Navetta 37
The new flagship of the semi-displacement series is the largest ever built model by Custom Line and is among the largest vessels on show in Cannes. The values of manoeuvrability, comfort, security and personalization – always in the DNA of Custom Line – are revealed in a revolutionary product of style, design and volumes, offering a top of the class model. A yacht of great success, thanks to the four units already sold, pays tribute to the twentieth anniversary of the brand, navigating it, at the same time, toward an even more brilliant future.
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In the press note by Ferretti Group:
From a commercial point of view, as of the 31st of August 2016, Ferretti Group recorded a consolidated order intake of 217 million euros for its serial brands, in line with the budget forecasts for the current year. The Group expects to close 2016 with a total order intake of € 394 million, thus with an increase of 6.2% compared to 2015.
In the first eight months of the year Ferretti Group continued its further market penetration internationally. In terms of consolidated order intake divided by geographies, as of the 31st of August 2016, the area including Europe, the Middle East and Africa accounted for 48% of new orders, while the Americas for 34% and the Asia Pacific markets for 18%.
The success of our commercial strategy and the continuous improvement in terms of efficiency and productivity at each of the Group’s construction sites has led, after the first 8 months of the year, to achieve consolidated revenues of 314 million euros, compared to the 250 million as of the 31st of August, 2015.
The EBITDA, as of the 31st of August 2016, reached 34.7 million euros, which is an extremely positive result compared to the breakeven obtained 12 months ago. These achievements lead to a firmly positive profit after tax in 2016, reaching 10.5 million as of August 31st, 2016, compared to a loss of 16.9 million recorded last year in the same period.
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