The Ferretti Group board approved the builder’s half-year financial report for the period ended June 30, showing net revenue from new yachts of €585.6 million ($667.4 million), down 5.6% year-over-year, though the decline moderated in the second quarter compared with the first, the company said last week.
Net profit came was €37.9 million ($43 million), down from €43.6 million ($49.6 million) in the prior-year period. The group reported adjusted EBITDA margin of 15.8%, which it called confirmation of the resilience of its profitability profile.
“My first two months at Ferretti Group have been dedicated to listening, learning and understanding the business from the inside,” global chief executive officer Stassi Anastassov said in the release. “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.”
Order intake and net backlog both declined compared with the first half of 2025, and Ferretti said it updated its full-year guidance on a prudent basis given continued geopolitical uncertainty, particularly in the Middle East, and a broader macroeconomic environment that has lengthened negotiation processes.
Anastassov said Ferretti’s challenge is “primarily commercial rather than financial,” noting the company continues to generate healthy cash and maintains a solid financial position. He said Ferretti has launched initiatives over the past two months to strengthen commercial execution, improve owner experience, reinforce product governance and increase organizational accountability, aimed not just at improving the second half of 2026 but at positioning the group “for stronger and more sustainable growth in 2027 and beyond.”
