September 6 2011
The Ferretti Group inaugurates the new nautical year In Cannes at the XXXIV Festival International de la Plaisance
Cannes, September 6h, 2011 – The Ferretti Group, a world leader in the design, construction and sale of motoryachts, encompassing a unique portfolio of some of the most exclusive and prestigious brands in the nautical world, inaugurates the new 2011-2012 nautical year in Cannes, at the 34th Festival International De La Plaisance. With an impressive fleet of 29 yachts on display, 10 models are noted as world previews,including: the Ferretti 720, Pershing 108’, Pershing 74’, Itama 45’, Riva 75’ Venere Super, Rivarama Super, Riva Iseo, Ferretti Custom Line 124’, Ferretti Custom Line 100’, Navetta 33 Crescendo by Ferretti Custom Line and My Navetta 43 “Lady Trudy” by CRN.
As usual, the traditional Ferretti Group Meeting was the occasion for the Group’sChairman and Founder, Norberto Ferretti, and for the Chief Executive Officer, Giancarlo Galeone for drafting the first preliminary results of the 2010-2011 nautical year. This nautical year has been characterized by a further expansion at an international level and by the launch of innovative models, confirming the great ability of the Ferretti Group to interpret the trends of the nautical market as well as the needs of its customers. With an increasing demand for Made in Italy luxury products, the company is constantly improving its standards of exceptionality, quality and performance, despite the challenging moment at the macroeconomic level.
The preliminary results of the nautical year ended on August, 31st, 2011 show a Value of Production of about 521 million euro, withan increase of +12%compared to approximately 465 million euro on August 31st, 2010. The Order Portfolio as of August, 31st 2011 is approximately 401 million euro, with a increase of +55%compared to 257 million euro as of August, 31st 2010, with a volume of new orders of about 552 million euro, an increase of +27% compared to about 434 million euro of the 2009-2010 nautical year.
During the 2010-2011 nautical year the Ferretti Group has confirmed its strong commitment to international expansion, through a strategy focused towards the local development and marketing growth in areas with strong present and future development opportunities.
In April 2010, the Group signed an agreement with its historic dealer and centre for production, sales, and after-sale service of all the yachts of the brands of the Group for the Brazilian market, Ferretti Group Brasil. The new production plant in the Sao Paolo area was officially inaugurated in June 2011.
With this same perspective, in July 2011, the company signed a non-binding Memorandum of Understanding with Shandong Heavy Industry Group (“SHIG”) – a Chinese holding, controlling leading companies in the sector of engines, generators and propulsion systems for the creation of a joint venture with the aim of developing an industrial partnership for the design, production and sale of motor yachts for the market of Greater China (China, Hong Kong, Taiwan and Macao) and other emerging markets . This initiative, which focuses on the development of new brands and models – not in competition with the present models of the Ferretti Group’s current portfolio- has the purpose of exploiting synergies starting with the respective technological and industrial skills, and will not determine impacts on the current production set up of the Group, traditionally based in Italy. Moreover, SHIG will evaluate the possibility to make a cash investment into the Group, for the acquisition of a minority shareholding.
As for North America, an area considered as strongly strategic by the Group, the distribution network has been strengthened further with new sales centres established in the North East USA, in Greenwich, CT, Newport, RI and Sag Harbor, NY as well as supporting Allied Marine in maintaining its successful brokerage activities. In the next few months, this process will expand to Michigan and California. The Group will take part in the Fort Lauderdale International Boat Show, displaying a preview for the continent, the new Custom Line 100’, the yacht which has recently been sold to an American customer as well as other new debut models for the US market including the Ferretti 720 and Riva 86’ Domino.
As for market segments, during the 2010-2011 nautical year, Ferretti Group, which ranked first in the 2011 Global Order Book, the most thorough and accurate analysis of the global nautical industry, issued every year by authoritative international nautical magazine ‘Showboats International’, focused on medium and large yachts and on continuous product and process innovation, constantly launching new models and looking for technological solutions to be ahead of market trends.
Continuing on its strategy of constant product innovation, which envisages the launch of 42 new models between 2011 and the end of 2013, in Cannes the Ferretti Group will present:
- Ferretti 720 by Ferretti Yachts;
- Pershing 108’ and Pershing 74’ by Pershing;
- Riva 75’ Venere Super, Rivarama Super, and Riva Iseo by Riva;
- Itama 45’ by Itama;
- Custom Line 124’, Custom Line 100’ and Navetta 33 Crescendo by Ferretti Custom Line;
- Navetta 43#7 ‘Lady Truly’ by CRN.
At the Festival de la Plaisance in Cannes the 200th hull of Aquariva, the elegant 33 foot vessel descending from the legendary Aquarama, will be on display. Representing the revival of the historic brand Riva after it has been acquired by the Group in 2000, Aquariva is a timeless icon of elegance and style.
The Ferretti Group is on a continuous quest for technological solutions in an effort to be ahead of market trends. This search led the Group to further develop the hybrid propulsion system "Zero Emission Mode”, which has been succesfully applied to the new Riva Iseo. The hybrid propulsion and Zero Emissions by means of the ‘Hybrid Propulsion ZEM’ version is particularly suitable for lakes or other areas where cruising is forbidden. This hybrid propulsion system is the result of the R&D activity of AYT (Advanced Yacht Technology), the research and design centre of the Group. This technology was first applied on the Mochi Craft Long Range 23 and was noted as the most advanced “green” yacht at the world level, awarded by the Union Internationale Motonautique. Once again proving to be the most advanced technology in this field, the Group is coping with every day more demanding owners, who are particularly interested in investing in yachts that guarantee the reduction of consumption, emissions, and noise
“Product culture has always been our DNA and our aim, more than ever, is to focus our energy on model innovation and on the continuous search for new technological and style solutions, in order to be ahead of the new trends of the nautical market at the world level” –declaredNorberto Ferretti, Chairman and Founder of the Ferretti Group. “For this reason, I consider presenting in Cannes with an impressive fleet of 29 yachts, with 10 world previews, the best and the most concrete sign of the strength of our Group and of the absolute quality and typical Italian elegance which have always characterized us and resulted in a 43 year commitment to manufacturing our yachts”.
“We underwent a period of major changes, but today we can proudly state that the industrial and market choices made in the last two years by our Group have been confirmed by facts. The Group focused on its core business and became even more international, expanding in the world nautical market and into emerging economies. This has already proved to be the best choice overall. Results show that it has provided and will provide many new opportunities for further developments in future years” – declared Giancarlo Galeone, Chief Executive Officer of the Ferretti Group. “Our goal is to continue on this double and parallel path, focusing and strengthening our brands and being the protagonists of new markets where Ferretti Group symbolizes passion, innovation and excellence”.