[dropcap]T[/dropcap]he group has won its challenge and is now finally saved under all aspects. You can feel it not only from the results shown – figures are figures, after all- but from the more relaxed tones, withouth that shortness of breath, that in the past sometimes seemed to appear. A good manager, able to relate at all levels, who understood how to reposition a brand and to revitalize a company. A manager who played with strong marketing actions, but well balanced by a product strategy supported by a team of professionals – staff, architects and designers – who contributed to restore credibility around the brands; but this would not be sufficient without his charisma and positive energy that has always expressed in all his public occasions. The American school teaches after all, a good manager must be a mentor to guide a team. Today Mr Alberto Galassi brought at home today positive results that derive from the combination of all these factors. Success is not a coincidence.
Ferretti Group presented today in Milan at the headquarters of Garage Italia Customs the financial results of the 2017 fiscal year and the investments plan for 2018. The Group registered a consolidated production value of 623 million euros, showing a 10.8% growth compared to 562 million euros in 2016. EBITDA grew by 11,3% compared to 2016, reaching 59 million euros.
2016 was the first year of net profit since 2008, a turning point from a negative growth, equal to -29 million euros, to well perfoming results of +14.1 million euros in 2017. This result confirms the solidity of the Group with a Profit After Taxes equal to 24 million euros and a growth of 71%.
Moreover, the Group’s total assets reached 971 million euros, of which 46 million composed by liquidity assets.
Alberto Galassi, CEO of Ferretti Group, commented: “The brilliant results we have presented today are largely generated by the success of the new serial models, presented in the four-year period 2015-2018, products of great success on the international markets which accounted for about 68% of the total sales value last year. Thanks to the investments allocated, to those planned for the year and an ever-expanding and varied fleet, we are aiming to grow even more, with increasingly surprising percentages, thus creating a solid basis for the development of the next industrial plan, which will be presented at the Cannes Yachting Festival, next September.”
After completing the three-year plan with optimal performance and having fully regained the leadership of the sector, Ferretti Group confirms the strategic direction already outlined and successfully pursued during the last four years: from 2015 to the end of 2018, 90.8 million euros have been invested and allocated to new investments in R&D and in new products development, for a total of 30 new models, of which 8 only in 2018.
The outlook for 2018 foresees a production value of 704 million euros. The 2018 project also includes a recruitment plan of 80 people in all the shipyards, located throughout the Italian territory.
The press conference concluded with a round table participated by three Italian entrepreneurs, Ing. Piero Ferrari (also shareholder of Ferretti Group), Alberto Bombassei (Brembo) and Lapo Elkann (Garage Italia Customs). The main theme discussed was the perception of the Made in Italy value abroad and how to push it in all the sectors where Italy ranks at first place: wine, food, fashion, design but also in the engineering sector, covering mechanical machinery and equipment. As a matter of fact, Italy is not only the place of La Dolce Vita, pizza and mandolini, but a country where exports record a leading position also in the mechanical sector, metal products industry, automotive and transport industry and equipment, chemical products and synthetic fibres, electrical and electronic apparatus.
Among the other things, during his speech, Mr Galassi excluded a future in the stock market for the group, since the yachting sector is too much influenced by external factors able to undermine the stability of each company, and reminded – instead – that the group was saved by the Chinese Weichei that at the time of their acquisition fueled the company with good and healthy capitals, without a speculative orientation, which has meant for the group the success that has reached today. He also confirmed that the group is looking for a new facility to acquire in Italy – even if they are at the same time considering solutions abroad – and that by September they will have to take a decision in order to allow their growing production to be in line with the clients’ orders.
During the media event, a tribute to the memory of Ing. Carlo Riva (passed away exactly one year ago) was paid by Ferretti Grup with a short movie filmed at the yard in Sarnico.