Italy · Delayed Price · Currency is EUR Ferretti Earnings Call Transcripts
Fiscal Year 2025
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Record revenues and margins were achieved, with strong growth in made-to-measure and large composite segments despite a shrinking market. Order backlog and recurring client sales provide robust visibility for 2026, while disciplined pricing and targeted investments support continued margin expansion.
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Order intake and backlog grew over 4% year-over-year, with revenues and EBITDA up 2.5%. Made to measure yachts now drive 55% of orders, and guidance for 2025 is confirmed with strong visibility into year-end. Competitive discounting persists in smaller segments, but margins remain robust.
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Revenue and EBITDA grew modestly in H1 2025, with strong performance in high-end segments and robust cash generation. Guidance for 2025 is confirmed, supported by a favorable product mix, cost controls, and a resilient business model despite market volatility.
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Record order backlog and revenue growth outpaced market expectations, driven by strong Made-to-measure and Super Yacht segments. EBITDA margin improved, CapEx cycle is ending, and global demand is rebounding after temporary U.S. market uncertainty.
Fiscal Year 2024
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Adjusted EBITDA rose 12.3% to €190M with margin at 16.2%, revenues up 5.6%, and order backlog at a record €1.7B. Strong Q4 order intake, robust global demand, and new product launches support a positive 2025 outlook, with capacity expansion and dividend plans confirmed.