Decline in orders by 9.2% for Ferretti Group, despite revenue increase
Ferretti Yachts Reports Strong Financial Results Despite Geopolitical Challenges
Ferretti Yachts, a leading manufacturer of luxury yachts, has announced its financial results for the first half of 2025. The company reported a net revenue of €620.4 million, marking a 1.5% increase compared to the same period in 2024. This growth was accompanied by an Adjusted EBITDA of €99.1 million, up 2.5% year-on-year, and a net profit that remained consistent with the corresponding period in 2024 at €43.6 million.
One of the most significant developments is the company's net cash position. As of June 30, 2025, Ferretti Yachts' net cash position was €101.6 million, an increase of €47 million from €54.6 million as of March 31, 2025. This increase was due to a cash inflow from net working capital primarily related to seasonal deliveries.
However, the company's order intake for the first half of 2025 was €467.3 million, down 9.2% year-on-year. Alberto Galassi, CEO of Ferretti Yachts, attributed this decrease to a "slowdown in the luxury market, amidst a macroeconomic backdrop of uncertainty," including the U.S.-EU trade dispute and geopolitical tensions in the Middle East.
Despite this, Ferretti Yachts maintained a relatively strong order backlog of €1.446 billion in H1 2025, which was only slightly down by 3.3% year-on-year. The company expects EBITDA growth of between +5.8% and +8.9% for the full year.
The impact of geopolitical tensions varied by segment. Superyachts saw a significant drop in order intake (-32.7%), while Made-to-measure yachts declined by 7.2%. Composite yachts remained relatively stable, with a slight decrease of 0.4%, and even showed a strong rebound in Q2 2025.
Geographically, order intake was distributed with about 40% from Europe, 30% from the Americas, 28% from Middle East and Africa (MEA), and 3% from Asia-Pacific (APAC), reflecting ongoing regional demand despite global uncertainties.
Ferretti Yachts did not reveal any plans for future investments or expansions, nor did it provide any details about its workforce or employment figures. The company also did not discuss any geopolitical tensions or their potential impact on its business beyond the statement attributing the decrease in order intake to macroeconomic uncertainties.
In summary, while geopolitical tensions contributed to a slowdown in new orders and some volatility in Ferretti's order intake in H1 2025, the company's diverse portfolio and order backlog provided a buffer against a more severe impact. Ferretti Yachts expects a margin increase of between 30 and 50 basis points for the full year.
[1] Ferretti Yachts Press Release, June 30, 2025. [2] Ferretti Yachts Financial Report, Q2 2025. [3] Ferretti Yachts Financial Report, H1 2025. [4] Ferretti Yachts Segment Analysis, H1 2025.
The strong financial results of Ferretti Yachts, a prominent player in the luxury yacht-making industry, showcased a net revenue increase of 1.5% and an Adjusted EBITDA growth of 2.5%, even amidst geopolitical challenges in the first half of 2025. This growth underscores the company's ability to attract finance and investments in the complex and ever-changing business environment.
