Ferretti profit up

Italian boatbuilding group Ferretti has reported its consolidated revenue is up 39 per cent on last year's figures

Italian boatbuilding group Ferretti which comprises the Ferretti, Riva, Pershing, Bertram, CRN, Custom Line, Mochi and Apreamare brands, has released its financial figures for the financial year September 1 2000 – August 31 2001.The company reported consolidated revenues of Euro 261.9 million (US$ 230.5 million) up 39 per cent on Euro 188.3 million (US$ 166 million) for the same period last year, and a consolidated net profit of Euro 15 million (US$ 13 million), up 13.4 per cent.

Ferretti says it registered a continuous growth of orders portfolio which achieved an overall amount of Euro 350 million (US$ 308 million), up 24 per cent compared to August 31 of last year. Distribution of a dividend of Euro 0.03 per share has been approved.

“The positive results approved today by the Board of Directors,” said Norberto Ferretti, chairman of Ferretti, “are also confirmed by the first few months of the current financial year. The excellent trend regarding trade fairs and boat shows (Cannes, Montecarlo, Genoa, Fort Lauderdale) which the Group has taken part in during this period must be pointed out since they have brought the overall orders portfolio for 2001/2004 to approximately Euro 350 million”.

“Thanks to the high average price of the boats sold (equal to Euro 1.27 million, US$ 1 million),” continued Ferretti, “we can continue to rely on important customers (classified as “High Net Worth Individuals”) and therefore our orders portfolio has not been affected by the recent economic environment”.

During last year, Ferretti Group produced a total of 206 boats compared to 179 boats for the previous year.


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