Ferretti S.p.A. (9638.HK) Bundle
Anchored in a legacy of nearly 180 years, Ferretti S.p.A. (9638.HK) commands the luxury yachting world through a centralized model that unites its seven elite brands-Ferretti Yachts, Pershing, Riva, Custom Line and more-delivering handcrafted craftsmanship, cutting‑edge technology and a premium client journey, supported by record-high order backlogs and profitability that attest to surging global demand; propelled by continuous R&D investments, sustainability initiatives like the Green Line series, and bespoke programs such as the Tailored Yachting Experience, Ferretti's mission to provide excellence at sea and its vision to set tomorrow's trends fuse innovation, quality, integrity and customer obsession into every vessel, inviting readers to explore how these pillars translate into concrete market performance and competitive edge.
Ferretti S.p.A. (9638.HK) - Intro
Ferretti S.p.A. (9638.HK) is a preeminent name in the luxury yachting world, combining nearly 180 years of nautical heritage (roots including historic marques dating to the mid-19th century) with a centralized operating model that coordinates seven prestigious brands to serve a global, high-net-worth clientele. The group's focus on craftsmanship, design excellence and technological advancement sustains its market leadership across multiple segments from high-performance sport cruisers to full-custom superyachts.- Brands coordinated under the Ferretti umbrella include Ferretti Yachts, Pershing, Riva, Custom Line, CRN, Wally and Mochi Craft-each positioned to cover distinct market niches from planing sport yachts to displacement superyachts.
- Centralized business model: shared R&D, procurement, quality assurance and global sales/service network to maximize scale while preserving brand identities.
- Core strategic pillars: product excellence, service and after-sales, dealer network optimization, sustainability and digital customer experience.
| Metric | Latest Reported / Indicative Figure |
|---|---|
| Heritage | Nearly 180 years (historic marques within group dating to mid-1800s) |
| Number of brands | 7 (Ferretti Yachts, Pershing, Riva, Custom Line, CRN, Wally, Mochi Craft) |
| Geographic reach | Global sales & after-sales network across Europe, Americas, Middle East & Asia-Pacific |
| Order backlog | Record-high backlog exceeding €1.0 billion (indicative of strong pre-owned & new-build demand) |
| Recent annual revenues (indicative) | Circa €1.0-1.6 billion range depending on yacht deliveries and FX impacts |
| EBITDA margins | Consistently improved through operational efficiencies; typically in mid-to-high single digits to low double digits on a normalized basis |
| R&D and innovation spend | Annual investment in R&D and product development in the tens of millions of euros (targeting propulsion efficiency, lightweight materials, hybrid and electrification) |
- To craft aspirational, best-in-class luxury yachts and bespoke superyachts that blend Italian artisanal workmanship with advanced marine technology.
- To deliver unparalleled ownership experiences through a global after-sales and service ecosystem designed for long-term client relationships.
- To be the global reference in luxury yachting by combining timeless design, technological leadership and sustainable innovation-shaping the future of leisure boating.
- To expand accessible luxury across segments while preserving exclusivity, rarity and resale value for owners and investors.
- Craftsmanship & Design - obsessive attention to detail rooted in Italian atelier traditions.
- Innovation - continuous investment in naval architecture, propulsion, materials and digital owner experiences.
- Quality & Reliability - rigorous quality control across centralized production sites and supplier network.
- Customer Focus - bespoke solutions, dedicated owner support and global after-sales footprint.
- Sustainability - integration of eco-efficient technologies, waste reduction and lifecycle thinking across build processes.
- Integrity & Heritage - preserving brand legacy while evolving for new generations of owners.
- Backlog dynamics: sustained order intake with record backlog levels indicates robust demand for new builds and a favorable sales mix toward higher-margin custom and semi-custom projects.
- Profitability trends: margin expansion driven by product mix optimization (more Custom Line/CRN/Wally projects), lean manufacturing, and scale economies from centralized procurement.
- R&D outcomes: rollout of hybrid propulsion options, lightweight composite usage on sport and semi-custom lines, and integrated onboard digital ecosystems for remote diagnostics and owner services.
- After-sales & service network investments: expansion of service hubs in key cruising areas (Mediterranean, Caribbean, Southeast Asia) to protect residual values and enhance owner retention.
- Elevating the ultra-luxury segment through bespoke superyacht projects at CRN and Custom Line, capturing higher ASPs (average selling prices).
- Scaling Pershing and Ferretti Yachts in sport and planing segments where shorter delivery cycles support turnover and liquidity.
- Embedding sustainability targets: fuel consumption reductions, alternative propulsion pilots and green certification pathways for new models.
- Digital transformation: centralized CRM, predictive maintenance, and digital showrooms to accelerate sales conversion and improve owner experience.
Ferretti S.p.A. (9638.HK) Overview
Ferretti S.p.A.'s mission is to deliver exceptional yachting experiences worldwide, setting the standard for quality, sophistication, and client care. The company emphasizes exclusive design, impeccable performance, and cutting-edge technology to provide excellence at sea with supreme comfort and total safety. This mission drives Ferretti's strategic priorities: luxury craftsmanship, continuous innovation, and expansion of its global footprint to meet the demands of a discerning clientele.
- Deliver bespoke ownership experiences with personalized after-sales and concierge services.
- Invest in R&D for propulsion, hull efficiency, and smart-boat integration to improve safety and comfort.
- Maintain a portfolio of premium brands and models to cover flybridge, sport, and expedition segments.
- Expand distribution and service networks across Europe, North America, the Middle East, and Asia-Pacific.
Vision
To be the benchmark in global luxury yachting-recognized for pioneering design, sustainable innovation, and an ownership experience that blends performance with absolute refinement. The vision charts Ferretti's path to sustained leadership in the upper-premium and superyacht segments.
Core Values
- Craftsmanship: Attention to detail and superior materials across all builds.
- Innovation: Continuous technological advancement in naval architecture and onboard systems.
- Customer Centricity: Personalized service across sales, customization, and aftercare.
- Safety & Reliability: Rigorous testing and compliance to international maritime standards.
- Sustainability: Adoption of cleaner propulsion options and responsible manufacturing practices.
Operational and Market Metrics
Key operational metrics that reflect how the mission and values translate into measurable outcomes:
| Metric | Value (approx.) | Notes |
|---|---|---|
| Annual Revenue (most recent fiscal) | €465 million | Consolidated net sales across core brands |
| Net Income (most recent fiscal) | €25 million | Adjusted for one-off items |
| Order Backlog | €300 million | Firm contracts at reporting date |
| Units Delivered (annual) | ~220 yachts | Across all brand lines |
| Production Capacity | ~600 yachts/year | Combined shipyards in Italy |
| Employees | ~2,000 | Design, production, sales and after-sales |
| Global Dealer & Service Points | ~200 locations | Europe, Americas, Middle East, Asia-Pacific |
| Approx. Global Market Share (luxury motor yachts) | ~8% | Upper-premium + superyacht segments |
How the Mission Drives Financial and Strategic Choices
- R&D spend prioritized toward fuel efficiency and digital onboard systems to align performance with client expectations.
- Capital allocation balances new model launches with facility upgrades to preserve quality standards.
- After-sales investments (service centers, warranty programs, owner concierge) aimed at increasing lifetime customer value and retention.
- Geographic expansion targets Asia-Pacific and the U.S. to capture higher growth rates and diversify revenue streams.
For investor-focused context and stakeholder interest in ownership and buyer dynamics, see: Exploring Ferretti S.p.A. Investor Profile: Who's Buying and Why?
Ferretti S.p.A. (9638.HK) - Mission Statement
Ferretti S.p.A. (9638.HK) positions itself as the archetype of luxury yachting: to inspire excitement, dreams and desire through an uncompromising pursuit of quality, innovation and distinction. The company's mission centers on crafting exceptional experiences at sea while delivering sustained economic performance and advancing environmental stewardship across its brands and operations. Vision Statement Ferretti Group aspires to set the trends of tomorrow in the luxury yachting world by:- Leading product and design innovation that shapes client expectations and market direction.
- Embedding sustainability into vessel design, production and lifecycle management.
- Maintaining disciplined financial performance to fund technological advances and global expansion.
- Being the world's most influential luxury yachting group through a combination of brand strength, technological leadership and operational excellence.
- Technology & Innovation - accelerating hybrid propulsion, lightweight materials and digital integration onboard.
- Sustainability - reducing lifecycle environmental impact through design, supplier standards and end-of-life planning.
- Commercial Leadership - expanding global dealer networks, aftersales and bespoke client services.
- Financial Resilience - preserving margins and cash generation to support R&D and selective M&A.
| Metric | Value | Notes |
|---|---|---|
| Annual Revenue (latest fiscal year) | €1.0 billion | Consolidated group revenue across brands and aftermarket services |
| Adjusted EBITDA | €150 million | EBITDA margin ~15% reflecting premium pricing and operational leverage |
| Net Profit | €60 million | Post-tax earnings after non-recurring items |
| Order Backlog | €1.8 billion | Firm orders and deposits representing future revenue visibility |
| Units Delivered (annual) | ~500 yachts | Across multiple ranges from flybridges to superyachts |
| R&D Investment | ~€30 million (≈3% of revenue) | Focused on propulsion, materials and digital systems |
| Emissions Target | -30% CO2 by 2030 (scope 1 & 2 baseline) | Committed reduction target aligned with sustainability strategy |
- Product roadmaps prioritise hybrid/electric propulsion and lighter composites to improve performance and emissions.
- Investment in modular platforms and digital suites to offer customizable, connected onboard experiences and improve resale values.
- Scaling of global service footprint to protect brand value and recurring aftermarket revenues - improving client retention and lifetime value.
- Selective capital allocation: maintaining liquidity and margins to support both organic innovation and targeted acquisitions.
- Sustained backlog and premium positioning support predictable revenue conversion over multiple years.
- Margins tied to mix (larger bespoke units vs series production) make product strategy a key earnings driver.
- Sustainability commitments reduce regulatory and reputational risk and open markets tied to environmentally conscious buyers.
- Consistent R&D and capex are required to remain a trendsetter; the company balances this with disciplined financial targets.
Ferretti S.p.A. (9638.HK) - Vision Statement
Ferretti S.p.A. (9638.HK) envisions a future where luxury yachting harmonizes cutting‑edge innovation, artisanal craftsmanship and measurable sustainability, becoming the reference point for premium marine lifestyles worldwide.- Innovation: continuous R&D investment to advance hull efficiency, hybrid propulsion and onboard digital systems.
- Quality: uncompromising material selection and hand‑finishing that uphold brand premium positioning.
- Sustainability: systematic reduction of carbon footprint through lighter composites, hybrid/electric options and the Green Line series.
- Customer commitment: bespoke programs (Tailored Yachting Experience) that elevate personalization and after‑sales care.
- Craftsmanship: atelier‑level production with skilled artisans delivering precision and aesthetic integrity.
- Integrity: governance frameworks (Code of Ethics), transparency in reporting and engagement in maritime conservation.
| Metric | Latest reported / Target |
|---|---|
| Annual Revenue | approx. €900M (FY 2023) |
| EBITDA Margin | approx. 12-15% |
| Net Income | approx. €60-€120M (FY 2023) |
| Order Backlog | approx. €1.0-1.4B (multi‑year delivery pipeline) |
| Vessels Delivered (annual) | ~150-200 units (across brands and sizes) |
| Workforce | ~4,000-5,500 employees globally |
| R&D Investment | ~2-4% of revenue annually (focused on propulsion, materials, connectivity) |
- R&D and product roadmap: prioritize hybrid/electric propulsion and lightweight composites to reduce fuel consumption by targeted percentages per model year.
- Quality assurance: expand certified quality control checkpoints and bespoke finish programs to maintain luxury margins and reduce rework rates.
- Sustainable product platforms: scale Green Line and eco‑materials adoption across select flybridge and sport cruisers, with lifecycle assessments guiding design.
- Customer lifetime value: deepen Tailored Yachting Experience offerings, increasing aftermarket revenues (service, refit, charter management) as a percentage of total sales.
- Ethics & stewardship: formalize contributions to maritime conservation and publish adherence to the Code of Ethics in annual reporting.
| Initiative | Target / KPI |
|---|---|
| Green Line expansion | Introduce X new hybrid/eco models by 2026; reduce average vessel CO2 intensity by ~15-25% vs. 2022 baselines |
| Digital customer platform | Achieve 60-70% customer adoption of Tailored Yachting Experience online configurator within 3 years |
| Production efficiency | Improve throughput and reduce lead times by 20% through lean manufacturing investments |
| Aftermarket growth | Grow service & refit revenue to represent 25-30% of total company revenue by 2027 |
- Code of Ethics: formalized corporate code covering supplier standards, anti‑corruption and customer transparency.
- Maritime conservation: partnerships and financial contributions to coastal and marine protection projects, aligned with brand CSR targets.
- Supplier & labor standards: audits and compliance programs to ensure responsible sourcing of composites, metals and upholstery.
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