This document makes use of some alternative performance indicators. The indicators represented are not identified as accounting measures in the context of IFRS and, therefore, should not be considered as alternative measures to those included in the financial statements. The management team considers these indicators are a meaningful metric for assessing the Ferretti Group's operating and financial performance.

The preliminary financial disclosure as of December 31, 2023 has not been audited by the Company's independent auditors.

The Company defines (i) EBITDA as the profit after tax, plus financial expenses (including the result of operational foreign exchange translation, but excluding foreign exchange losses/gains in connection with financial transactions), depreciation and amortisation, and taxes, less financial income and income tax benefits; (ii) Adjusted EBITDA as EBITDA to which special items have been added (including listing expenses, the Management Incentive Plan, additional  personnel-related costs, disputes, and other minor non-recurring events); and (iii) unused net income as income excluding income generated from the sale and purchase of used yachts.


Double digit growth of the main KPI’s, announcement of the 2024 guidance and mid-term guidance confirmation.
 
Net revenue new yachts at €1,110.9 million, up 11.5% from €996.1 million in 2022;
Record adjusted EBITDA margin at 15.2%;
Order backlog reaches €1.5 billion, up 15.1% on 2022.
  • Net revenue new yachts at €1,110.9 million, up 11.5% from €996.1 million in 2022;
  • Adjusted EBITDA of €169.2 million, up about 21% from 2022, with margin of 15.2%, up 110bps;
  • Net income of €83.5 million, up 38% from 2022;
  • Order intake of €1,120.4 million in line with 2022;
  • Net financial position of €281.1 million;
  • The Group announces guidance for 2024 and confirms medium-term guidance.
Also approved the co-option of directors Zhang Quan and Zhu Yi, the new composition of internal board committees, the guidelines of the Management Incentive Plan (MIP) and of the guidelines for the repurchase of the shares of Ferretti S.p.A.


Forlì, February 19, 2024 - The Board of Directors of Ferretti S.p.A. (the "Company") has approved the preliminary consolidated financial results as of December 31, 2023.

Mr. Alberto Galassi, Chief Executive Officer of the Group, stated: "2023 was an extraordinary year for Ferretti Group in terms of both the results and goals achieved.  I would like to emphasise the great importance of the listing on Euronext Milan in June and its very positive reception from the financial community.
The results we are presenting today highlight remarkable growth in the main economic and financial indicators and two absolute records in our recent history: an order backlog of €1.5 billion and a margin of 15.2%, confirming the solidity of the commercial and industrial strategy announced in March 2022. 
These extremely positive numbers will give substance and quality to a further strengthening of our brands, with investments in research, innovation and sustainability. At the Düsseldorf Boat Show we presented Riva El-Iseo, the brand’s first full-electric powerboat that launches the new E-Luxury segment, testifying to Ferretti Group’s commitment to increasingly sustainable yachting.”


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