FERRETTI (09638) new orders for the first three quarters amounted to 7.369 billion euros, a year-on-year decrease of approximately 15.8%.

FERRETTI (09638) released its performance for the nine months ending on September 30, 2024. New orders: for the nine months of 2024, it was 7.369 billion euros, slightly decreasing by about 15.8% compared to the 8.75 billion euros for the nine months of 2023. This was mainly due to the significant impact on the performance of the composite material yacht division by market normalization, despite growth in the performance in the third quarter of 2024, and the comparison affecting the custom division. The custom division showed outstanding performance in the Middle East and Africa regions in the third quarter of 2023. Cumulative orders: reached 13.263 billion euros as of September 30, 2024, decreasing by about 9.9% compared to the 14.717 billion euros as of September 30, 2023, mainly due to the normalization of new orders in 2024. Net cumulative orders: as of September 30, 2024, were 780 million euros, a decrease of about 9.4% compared to 860.7 million euros as of September 30, 2023. Net new yacht income: for the nine months of 2024, it was 8.653 billion euros, an increase of about 3.8% compared to 8.339 billion euros for the nine months of 2023, due to the cumulative orders in 2023 and 2024. The CEO's insight: "As we conclude this quarter, we have achieved a new high in profitability of 16%, confirming the strength and effectiveness of our strategy. In the third quarter of 2024, the super yacht division saw a significant growth in new orders, proving the success of our market positioning through strengthening the brand. The composite material yacht division also showed excellent performance, and it is expected that new yacht orders will increase. In addition, the outstanding performance at major boat shows in the Mediterranean, along with the arrival of the Americas' season, will further drive our prospects, both of which will bring tangible benefits in the short term. The cumulative order total as of September 30 is 13 billion euros, and with the orders received after the end of this quarter, the value matches the record of the first nine months of 2023. In terms of production, we continue to build the Lavagna shipyard at full speed, and soon we will expand and further improve the products offered, optimize the product portfolio, and integrate the positioning of each division with high growth and profit potential."