Ferretti Group sees H1 2026 net revenue drop 5.6% but reports strong cash generation
Image courtesy of Ferretti Group Ferretti Group has posted a decline in net revenue, net profit and order intake in the first half (H1) of 2026 but reports strong cash generation for this period.
In the group’s approved financial results to 30 June 2026, net revenue from new yachts in H1 2026 totalled €585.6 million, down 5.6 per cent year-on-year. However, the decline slowed in the second quarter, easing to a 2.9 per cent year-on-year drop compared with an 8 per cent contraction in the first quarter.
The company’s net profit totalled €37.9 million, compared with €43.6 million reported in H1 2025, while order intake stood at €341.4 million for H1 2026, compared with €467.3 million in H1 2025.
Net backlog stood at €564.9 million as of 30 June 2026, compared with €760.8 million at the end of H1 2025.
The group reported a net financial position (net cash) of €95.0 million as of 30 June 2026, an increase of €76.6 million compared with 31 March 2026, supported by the seasonal release of net working capital associated with deliveries and after distributing approximately €37.2 million in dividends.
Tthe group’s global chief executive officer, Stassi Anastassov, was appointed in May 2026 following a months-long boardroom battle for control of the luxury Italian shipbuilder.
Commenting in the financial H1 report, Anastassov (pictured left) states: “My first two months at Ferretti group have been dedicated to listening, learning and understanding the business from the inside. I have spent time in our shipyards with our employees, dealers, agents and owners, and reviewed our performance brand by brand and market by market. The conclusion is clear. Ferretti remains an exceptional company with outstanding brands, talented people and one of the strongest balance sheets in our industry.
“At the same time, the first half confirms that we are operating in a more challenging market than we have experienced in recent years. Customer decision cycles have lengthened, competition has intensified in several segments and order intake remains below the levels required to replenish our backlog at the pace we would like.
“Our challenge today is therefore primarily commercial rather than financial. The company continues to generate healthy cash, maintains a solid financial position and benefits from excellent operational capabilities. Our priority is to rebuild commercial momentum while protecting the quality of our order book, our pricing discipline and the long-term value of our brands.
“Over the past two months we have already launched a number of initiatives to strengthen commercial execution, improve owner experience, reinforce product governance and increase organisational accountability. These actions are not designed simply to improve the second half of 2026. They are intended to position Ferretti Group for stronger and more sustainable growth in 2027 and beyond.
“The market environment remains uncertain, and we expect that uncertainty to continue. Our focus is therefore not on chasing short-term volume, but on making the right decisions for our customers, our shareholders and the long-term strength of our company. I am confident that this disciplined approach will create greater value over time”
The group has also revised its full-year guidance on what it described as a prudent basis, noting continued geopolitical uncertainty, particularly in the Middle East, and wider macroeconomic conditions that have lengthened negotiations with clients.
Leave a Reply