Ferretti Group inaugurates new Milan HQ and outlines future strategy
After halving its consolidated losses, the Ferretti Group has allocated investments worth over €50 million for product development and research over the next three years, with its majority shareholder, Weichai Group, subscribing to an €80 million increase in capital.
he Group is focusing on the continued development of the core brands in its portfolio – particularly Riva, Ferretti Yachts, Pershing and Custom Line – involving investments in product development and research worth over €50 million over the three year period spanning 2015-2017, that will fund the launch of 27 new models. The new Riva Superyachtdivision is part of this new direction, endorsing the decision by the historic and iconic brand to enter the 50-metre-plus super yacht segment.
The launch of new models and the efforts to develop markets in the years to come, are signs of the Group’s hopes and intentions to reach break-even and achieve sales volume worth €542 million by the end of 2017, compared to estimated sales of €373 million by the end of 2015 and €392 million in 2016. The Group also expects to see steady growth in its margins over the next three years, and aims to achieve a positive EBITDA of €16 million in 2016, expanding to €44 million in 2017.