Ferretti, revenues and profits up. Altus appointed advisor for the Kkcg tender offer

The Ferretti Group has reported net revenues from the sale of new yachts of €1.23 billion in the 2025 financial year, up 5% on 2024. This was announced by the company at the end of the board meeting that approved the consolidated results as of 31 December last year. Adjusted EBITDA amounted to EUR 202.8m, up 6.7 per cent from 2024, with a margin of 16.5 per cent, up 30 basis points from 2024. Net profit amounted to 90.1 million, up 2.2% from 2024, while order intake reached 1.13 billion, broadly in line with 2024.

The order backlog was 1.71 billion, up 14.5% compared to 30 September 2025, and up 3.1% compared to 2024. The net backlog (orders acquired but not yet delivered) was 828.6 million as at 31 December 2025, up 4.3% compared to 30 September 2025 and down 7.9% compared to 31 December 2024. The net financial position was 111 million (net cash) at 31 December 2025, up by approximately 45.8 million compared to 30 September 2025 and down by 13.6 million on 31 December 2024.

In the context of the conditional voluntary partial tender offer promoted by Kkcg maritime and aimed at the acquisition of Ferretti shares up to 52.13 million, equal to 15.4% of the share capital, the board of directors has appointed Altus capital as independent financial advisor, to assist the independent board committee in its evaluation of the offer (the appointment, the group announced, in compliance with the Hk takeovers code, was approved in advance by the independent board committee).

The board of directors also decided not to appoint a further financial advisor, but to make use of the analyses that will be carried out, and the conclusions that will be drawn, by Altus. If the offer is accepted in full, Kkcg Maritime would hold 101.16 million Ferretti shares, equal to 29.9% of the share capital.

"2025," said Alberto Galassi, the group's CEO, "has been a challenging year for the boating industry worldwide, and in selective contexts, the companies that have industrial vision, financial discipline and strategic coherence emerge. We hit all the targets we had set ourselves, correctly interpreting the market trend and, as a result, achieving excellent results: revenues grew beyond the reference sector and margins improved significantly. The objective and the choices implemented with constancy and vision by the management remain clear: profitable growth, sector leadership and value creation for all stakeholders'.