FERRETTI (09638) announced that during January, February, and March 2026, the group participated in major international boat shows held in Düsseldorf, Miami, and Palm Beach.
New Orders: For the first quarter of 2026, new orders amounted to €180 million. This represents a decrease from the €271 million recorded in the three months ended March 31, 2025 (Q1 2025). The decline is primarily attributed to global uncertainties arising from geopolitical tensions in the Middle East, leading to delays in yacht contract signings and deliveries in that region.
Cumulative Orders: As of March 31, 2026, cumulative orders reached €1.718 billion. This figure is in line with the performance of €1.716 billion as of December 31, 2025. It reflects the strong order intake received in the dedicated custom yacht and superyacht segment during 2024 and 2025. Compared to the €1.769 billion as of March 31, 2025, it shows a slight decrease of approximately 2.9%.
Net Cumulative Orders: As of March 31, 2026, net cumulative orders stood at €722 million. This represents a decrease of approximately 12.8% from the €829 million as of December 31, 2025, and a decrease of approximately 14.0% from the €840 million as of March 31, 2025.
Net Revenue from New Yachts: For the first quarter of 2026, net revenue from new yachts was €302 million. This is a decrease of approximately 8.0% from the €329 million in the first quarter of 2025. The reduction is due to delayed new orders from the Middle East region impacting revenue generation.
Insights from the company's Chief Executive Officer: "The first quarter reflects a softer business environment, and the pace of order conversion has been slower than we anticipated, particularly regarding new orders. We will address this situation with a pragmatic and rigorous approach, focusing on operational aspects, maintaining confidence without complacency. Meanwhile, our business fundamentals remain solid. Our brands continue to hold a very strong position in the market. Combined with resilient margins and the quality and predictability embedded in our cumulative order book, this provides a significant foundation for future operations. We expect more than €400 million of net cumulative orders to convert into revenue for 2026, offering a meaningful outlook for our full-year operations. In the current environment, we will focus on rigorous execution, excellent operational performance, and creating long-term value, rather than short-term market reactions. We remain confident in the long-term strength, market positioning, and development potential of the FERRETTI Group."
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