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Ferretti (YACHT) investor relations material
Ferretti Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record revenues and margins, fully meeting or exceeding FY'25 guidance, with revenue up 5% to €1,232 million and adjusted EBITDA up 6.7% to €203 million, outperforming a market that declined 3.1%.
Maintained leadership in profitable yacht segments, with a growing and loyal customer base and robust global presence.
Order backlog reached €1.716 billion, up 3.1% year-over-year, providing strong visibility for 2026.
Order intake rebounded in H2'25, especially in the American market, reflecting renewed client trust and strong demand.
Net profit reached €90.1 million, representing a 7.3% margin.
Financial highlights
Adjusted EBITDA margin improved to 16.5% (+30bps YoY), with adjusted EBITDA at €202.8–€203 million.
Net financial position closed at €111 million net cash, supported by strong order intake and working capital release.
Net working capital ratio decreased to 13.1%, approaching the 12.5% target.
CapEx for FY'25 was €89–€90 million, with over 50% devoted to R&D and business expansion.
Net profit margin was 7.3% of net revenue.
Outlook and guidance
Positive outlook for 2026, with strong order backlog and continued focus on profitable, high-value segments.
2025 guidance for revenue (€1,220–€1,240 million) and adjusted EBITDA (€201–€207 million) fully achieved.
Expectation of 2–3% average price increases and higher margins from options and personalization.
Mid-term guidance targets ~10% CAGR in net revenue new yachts and further margin expansion.
Strategic focus on expanding product mix, innovation, sustainability, and high-value segments.
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