September 10 2013
THE FERRETTI GROUP AT THE CANNES 2013 INTERNATIONAL BOAT SHOW.
Cannes, 10th September 2013 – The Ferretti Group, one of the leading world players in the design, construction and sale of motor yachts, with a unique portfolio of the most exclusive and prestigious brands worldwide, opens the new autumn nautical season by taking part in the 36th Festival International de la Plaisance in Cannes, to be held from 10th to 15th September 2013, with an impressive fleet of 19 yachts, 3 of which are world premieres: Ferretti Yachts 960, Ferretti Yachts 750 and Pershing 62’.
This year too the Cannes boat show is the perfect venue to hold the Ferretti Group Meeting, which has reached its 11th edition. During the meeting - in front of a large audience made up of employees, dealers, customers, suppliers, and the media -, the Group's CEO Ferruccio Rossi outlined today the main guidelines and strategic objectives of the new 2013-2018 Industrial Plan and took stock of the first six months of 2013.
Maintaining the Group’s leadership in the boating sector thanks to the “Made in Italy” quality of its yachts, further increasing its presence at a global level, and pursuing a sustainable growth: these are the main guidelines and strategic objectives of the new 2013-2018 Industrial Plan, which aims to reach a consolidated turnover of approximately €900 million in 2018 and more balanced revenues from the three macro-areas: 1) Europe, Middle East, Africa (EMEA); 2) Americas; and 3) Asia-Pacific (APAC).
The above objectives will be achieved through the development of highly innovative products, world-class brokerage & service activities, and the increase of the Group’s components business. These strategies will not only allow for a revenue increase, but also make cash flows less dependent on the various seasons.
Moreover, the new Plan also aims to generate approximately 50 % of revenues outside the Euro area by 2015 and to complete the restructuring process that the Group has been implementing over the last few years by curbing fixed and structural costs, whose current level is no longer sustainable against the present scenario, through several tools ensuring more flexibility and a series of internal measures aimed at improving the boatyards' production efficiency.
In spite of the unfavourable macro-economic scenario, over the 2013-2016 period the Ferretti Group is expecting to make considerable investments, amounting to over €80 million, mainly in the development of new products and in activities aimed at increasing the efficiency, safety, and environmental soundness of its boatyards in Italy.
The 2013-2018 Plan also envisages a further expansion of the Group at a global level, to confirm its leadership in the luxury boating sector and the achievement of a more thorough knowledge and a better understanding of the needs of its customers and of individual markets. From a geographic standpoint, the Group will thus implement a global strategy in terms of marketing, product development and planning&control, while taking a strong local approach as regards its sales, pre-and after-sale services and product customisation based on specific local needs.
Moreover, during the Cannes Boat Show the Group is presenting a significant change in the "architecture" of its historical brand Ferretti Yachts, following the creation (last April) of the Group's internal Product Strategy Committee, the main goals being to constantly improve and widen its offer and to develop increasingly successful synergies between all its prestigious brands. Indeed, in September 2013, the “new” Ferretti brand is born, while Ferretti Custom Line is being divided into two product lines which will now be part of the new brand together with Ferretti Yachts. This new architecture has been developed to have three different product lines within the same brand, thereby meeting at best the demand of the Owners (who already noticed how Ferretti Yachts and Ferretti Custom Line shared a whole series of features) and managing sales and marketing strategies even more effectively. The Ferretti brand will thus include three different product lines:
- Ferretti Yachts: flybridge motor yachts ranging between 15 and 29 metres;
- Ferretti Custom Line: flybridge fibreglass planing yachts between 26 and 38 metres in length;
- Ferretti Navetta: the boats of the semi-displacement line Navetta 26 Crescendo and Navetta 33 Crescendo.
The Ferretti Group Meeting has also given the opportunity to take stock of the first six months of 2013, during which the Group received orders recording a 2.3% in spite of the unfavourable macro-economic situation that is still affecting the Euro area. This result has been achieved thanks to the Group’s further expansion on international markets, particularly in the Americas and the APAC area, which confirms the effectiveness of the strategy recently implemented by the Group.
More specifically, the EMEA area is still affected by the austerity policies put in place by the countries with the highest public debt and by the ongoing crisis in the boating sector, while the Group's sales have increased in Eastern Europe, Russia and Turkey, as well as in Africa.
The Group is also witnessing, for the second consecutive year, a two-digit growth in the Americas, with a more-than 19% increase in orders, also thanks to the strategic decisions made over the last few years, which have focused on strengthening the Group's presence in this continent and expanding its distribution network.
Last, but not least, the Ferretti Group is aiming to further expand in the APAC area, which has gained a crucial role in future nautical business growth strategies and where the establishment of the Group’s subsidiary - based in Hong Kong -, the opening of a representative office and showroom in Shanghai, and the strengthening of a local multinational team have allowed to double the order portfolio. In order to further strengthen its presence in this region, over the next few months the Ferretti Group will open several sales offices and showrooms in Hong Kong, Shanghai, Qindao, Xamien and Sanya.
In line with its strategy of constantly launching new products so as to forerun market trends, the Group this year will present 3 world premieres in the magnificent setting of Cannes: Ferretti Yachts 960 and Ferretti Yachts 750 for the Ferretti brand and Pershing 62’ representing the Pershing brand.
Many other models, symbols of Made in Italy luxury and glamour, will also be on display at the Festival de la Plaisance:
• Ferretti Yachts 800, Ferretti Yachts 690, Ferretti Custom Line 100’ and Ferretti Navetta 33 Crescendo, representing the Ferretti brand;
• Pershing 82’ representing Pershing;
• Itama 75’, Itama 62’ and Itama 45’, representing the Itama brand;
• Mochi Craft Dolphin 74’ Cruiser and Mochi Craft Dolphin 64’ Cruiser, representing Mochi Craft;
Riva, an iconic brand for the Ferretti Group, is displaying some of the best-known yachts in its open line – Iseo, Aquariva Super, Rivarama Super and 63’ Virtus - as well as the 86’ Domino from the coupe line.
“Maintaining our leadership at a worldwide level, also thanks to the unique Made in Italy quality of our yachts; further increasing our global presence, particularly on emerging markets; and pursuing a sustainable growth – these are the main objectives of our five-year Plan, that we wanted to share with the dealers, Customers, and suppliers that took part today in our annual meeting” – commented Ferruccio Rossi, Ferretti Group’s CEO. "I think that being present this year at Cannes Festival de la Plaisance - one of the most prestigious international boat shows and the event that opens the autumn season – with as many as 19 yachts (3 of which are world premieres) on display bears witness to our will to keep growing, confirming our global leadership”.
THE THREE NEW MODELS AT THE 36th FESTIVAL INTERNATIONAL DE LA PLAISANCE IN CANNES
FERRETTI YACHTS 960
Ferretti Yachts 960 is the largest planing recreational craft ever built by the Group's historical brand. Thanks to its 29.20 metre-overall length and 23.98 metre-hull length, the flagship – the result of the cooperation between Studio Zuccon International Project, AYTD - Advanced Yacht Technology& Design, and the Group's team of engineers, architects, and designers – can be managed as a pleasure boat, even without the presence of a professional captain, while boasting an unprecedented onboard liveability: it is indeed the first yacht in this brand featuring the master cabin on the main deck and four more cabins on the lower deck, all equally sized and with equivalent furnishings and fittings. The layout also includes three crew cabins with direct access from the galley. The flybridge and the aft area are devoted to leisure activities. The garage door features a series of comfortable sunpads while the swimming platform is fitted with a convenient mobile section that makes launching and hauling the tender much easier: once the garage door is opened, the central part of the platform can be lowered to flood part of the garage, allowing the tender to slide into the water, with no need for any davit. The flagship is available with three different MTU engine configurations. The standard one mounts two 16V 2000 M84 2218 mhp engines, while the two optional versions include two 16V M93 2435 mhp engines or two 16V M94 2638 mhp engines, respectively. When the most powerful set of engines is installed, the Ferretti Yachts 960 can reach a maximum speed of 31 knots and a cruising speed of 27 knots. The ARG (Anti Rolling Gyro) system comes standard.
FERRETTI YACHTS 750
Ferretti Yachts 750 - having a 22.75-metre overall length and a beam of 5.70 metres - is the evolution of the largely appreciated Ferretti 720 and stands out for a series of exterior and interior innovative features and a new interior décor. Ferretti Yachts 750 immediately strikes for its even more slender and sportier outer lines, which benefit from the installation of a new elongated flybridge that is even more spacious as there is no davit installed. Another important innovation can be found in the aft outdoor area, where a wide (over 1.5 metres long) electrically-hydraulically operated swimming platform can be lowered by almost half a metre below the water surface, resulting in very easy tender launch and haulage. The platform can lift up to 450 kg and can host an almost four-metre tender. As regards its interiors, the Ferretti 750 is characterised not only by many new decor elements, introduced to restyle the living and dining areas, but especially for the various possible layout configurations: alternative versions are indeed available to meet the specific needs of the various international markets where the Group is currently present.
The natural evolution of Pershing 56’ and Pershing 58’, two of the brand’s most successful models, boasting more than 70 built and sold hulls overall, the new Pershing 62’ immediately strikes for its streamlined, slender profile: the bottom line and the superstructure have indeed been designed to obtain a slim, fast yacht characterised by aggressive lines and a sporty personality, also thanks to the unique shape of the hull glazing - a typical feature in Pershing's new era that can now be found in this model too, preserving the family feeling and ensuring great brightness in the full-beam master cabin located amidships. The VIP cabin too benefits from two windows with portholes, which let it plenty of natural light. Pershing 62' is available in two versions: with three cabins and three heads with separate shower box or with two cabins – the master stateroom and the VIP cabin -, while the guest cabin is replaced by a living area.