Informazione
Regolamentata n.
0425-86-2026Data/Ora Inizio Diffusione 31 Luglio 2026 11:27:29Euronext Milan
Societa' :FERRETTI
Utenza - referente :FERRETTIEST01 - Sacerdoti Margherita Tipologia :2.2; 1.2 Data/Ora Ricezione :31 Luglio 2026 11:27:29 Data/Ora Inizio Diffusione :31 Luglio 2026 11:27:29 Oggetto :Ferretti SpA approves the consolidated financial results as of 30 June 2026 Testo del comunicato
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FERRETTI SPA APPROVES THE CONSOLIDATED FINANCIAL RESULTS
AS OF 30 JUNE 2026
STRONG CASH GENERATION WITH NET FINANCIAL POS ITION OF €95
MILLION (NET CASH) , UP €77 MILLION AFTER DIVIDEND PAYMENT
• Net revenue from new yachts amounted to €585.6 million, down 5.6% year -on-year ;
however, reflecting a n improved trend in the second quarter of 2026, with revenue declining by 2.9% in Q2’26 vs. Q2’25, compared with the decline of 8.0% in Q1’26
vs. Q1’25
• Adjusted EBITDA reached €92.5 million with a margin of 15.8%, confirming the resilience of the Group’s profitability profile • Net profit remain s robust at €37.9 million, compared with €43.6 million reported in the first half of 2025 • Order intake totaled €341.4 million in the first half of 2026, down versus the sound comparative period in the first half of 2025, when it reached €467.3 million • Net backlog stood at €564.9 million as of 30 June 2026, compared with €7 60.8 million at the end of the first semester 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 • Full-year guidance updated on a prudent basis in light of the continued geopolitical uncertainty, particularly in the Middle East, and the broader macroeconomic environment that continue to lengthen negotiation processes
Forlì, 31 July 2026 - The Board of Directors of Ferretti S .p.A. reviewed and approved the Half-
Year F inancial Report as of 30 June 2026.
Mr. Stassi Anastassov , the Group’s Global Chief Executive Officer, stated : "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 mo mentum 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 organizational 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 appr oach will create greater value over time”
The consolidated key financial highlights of the first semester 2026 as follow:
EUR million Data as of 30 June
H1’26
(unaudited) H1’25
(unaudited) Change1
H1’26 vs. H1’25 Net revenue new yachts2 585.6 620.4 -5.6%
EBITDA adj3 92.5 99.1 -6.7%
Net Profit 37.9 43.6 -13.1%
EUR million
30 Jun ’26 (unaudited) 31 Mar ’26
(unaudited) Change
in €mln
1 Sums might not add up to total due to rounding 2 Revenue without pre -owned business 3 Excluding non-recurring costs and other minor non -recurring events
Net financial position -
net cash 95.0 18.4 +76.6
Order intake , Order backlog and Revenue overview
Order intake
In the first half of 2026, order intake reached €341.4 million, compared with €467. 3 million in the sound comparative period of H1 ’25 (-26.9%). Performance was influenced by a more selective order conversion environment, with some postponement of orders for larger yachts in core markets as customers remained cautious against a backdrop of continued global uncertainty.
Order intake by segment The following table shows the breakdown of order intake by segment:
Million euros Order intake by segment
H1’26
(unaudited) % of total order intake H1’25 (unaudited) % of total order intake Change4 H1’2 6 vs.
H1’2 5
Composite yachts 170.7 50.0% 160.9 34.4% +6.1% Made -to-measure yachts 169.3 49.6% 237.8 50.9% -28.8% Super yachts 0.0 0.0% 64.9 13.9% n.m.
Other businesses 1.4 0.4% 3.8 0.8% -63.2% Total 341.4 100.0% 467.3 100.0% -26.9%
The Composite yachts segment totaled €170.7 million, accounting for about 50.0% of total order intake (from € 160.9 million, accounting for about 34.4% of total order intake in H1’25), showing good resilience with an increase year on year , supported by the starting of the European summer season and the attractiveness of the new models launched .
The Made -to-measure yachts segment totaled €169.3 million, accounting for about 49.6% of total order intake (from €237.8 million, accounting for about 50.9% of total order intake in H1’25), reflecting a temporary postponement of order intake conversion, mainly in the Middle East region, due to the ongoing geopolitical tensions.
No Super yachts order was recorded in H1’26 (from €64.9 million, accounting for about 13.9% of total order intake in H1’25).
4 Sums might not add up to total due to rounding
The Other businesses totaled €1.4 million, accounting for about 0.4% of total order intake ( from €3.8 million, accounting for about 0.8% of total order intake in H1’25).
Order intake by geographic area5 The following table shows the breakdown of order intake by geographic area:
Million euros Order intake by geographic area
H1’26
(unaudited) % of total order intake H1’25 (unaudited) % of total order intake Change6 H1’26 vs.
H1’25
Europe 135.1 39.6% 181.1 38.8% -25.4%
MEA 92.9 27.2% 130.6 27.9% -28.9%
APAC 39.9 11.7% 12.8 2.7% +211.7%
AMAS 73.4 21.5% 142.8 30.6% -48.6%
Total 341.4 100.0% 467.3 100.0% -26.9%
Europe totaled €135.1 million, accounting for about 39.6% of total order intake (from €181.1 million, accounting for about 38.8% of total order intake in H1’25). The challenging comparison with H1’25 reflects the order intake of two Super Yachts (total value of ca. €64.9 million) in the region in H1’25 , while no Super Yacht was recorded in H1’26 .
MEA totaled €92.9 million, accounting for about 27.2% of total order intake (from €130.6 million, accounting for about 27.9% of total order intake in H1’25). The region was still impacted by the geopolitical tensions with negotiation s progressing with delays in final contracts signing.
APAC totaled €39.9 million, accounting for about 11.7% of total order intake (from €12.8 million, accounting for about 2.7% of total order intake in H1’25), continuing its growth trend .
AMAS totaled € 73.4 million, accounting for about 21.5% of total order intake (from € 142.8 million , accounting for about 30.6% of total order intake in H1’25). In Q2’26 t he A mericas were up 49.5% year -on-year, and the overall performance of H 1’26 moved to -48.6% from -87.0% of Q1’26 .
Order backlog
As of 30 June 2026, the order backlog amounted to €1,455.0 million, in line with the data as of 30 June 202 5 (€1,446.0 million) .
5 The geographical breakdown, differently from the previous year’s financial statements refers to the dealer's area of exclusiv ity or by the
customer's nationality
6 Sums might not add up to total due to rounding
Order backlog by segment The table below shows the breakdown of order backlog by production type:
EUR million Order backlog by segment
H1’26
(unaudited) % of total order backlog H1’25 (unaudited) % of total order backlog Change7 H1’26 vs.
H1’25
Composite yachts 219.2 15.1% 225.2 15.6% -2.7%
Made -to-measure
yachts 595.0 40.9% 490.8 33.9% +21.2% Super yachts 639.5 43.9% 689.0 47.6% -7.2% Other businesses 1.4 0.1% 41.0 2.8% -96.6% Total 1,455.0 100.0% 1,446.0 100.0% +0.6%
Composite yachts reached €219.2 million, equal to approximately 15.1% of the total backlog (compared to €225.2 million, equal to approximately 15.6% of the total backlog as of 30 June 2025).
Made -to-measure yach ts reached €595.0 million, equal to approximately 40.9% of the total backlog (from €490.8 million, equal to approximately 33.9% of the total backlog as of 30 June 2025).
Super yachts reached €639.5 million, equal to approximately 43.9% of the total backlog (from €689.0 million, equal to approximately 47.6% of the total backlog as of 30 June 2025).
Other businesses reached €1.4 million, equal to approximately 0.1% of the total backlog (from €41.0 million, equal to approximately 2.8% of the total backlog as of 30 June 2025).
Net Backlog
The Net Backlog that is calculated as the total orders in portfolio not yet delivered net of revenues already booked stood at € 564.9 million as of 30 June 2026 remaining supportive of revenue visibility , although down 25.7% compared to €760.8 million as of 30 June 202 5.
Net backlog coverage for FY’26, as of 30 June 2026, is higher than at the same period last year (€300 million vs €265 million ), supported by the increased contribution from the Composite (+7.3%) and Made -to-Measure (+2.1%) segments, providing greater revenue visibility for the H2’26 .
As of 30 June 2025, 61% of the Net Backlog corresponded to S uper Yachts and therefore mostly referred to the following year , while a s of 30 June 2026 the current pipeline of Super Yachts
7 Sums might not add up to total due to rounding
negotiations is still expected to convert into new orders, further strengthening backlog visibility and supporting revenue coverage into 2027 and 2028 .
EUR million Net Backlog by segment
H1’26
(unaudited) % of total net backlog H1’25 (unaudited) % of total net backlog Change8 H1’26 vs.
H125
Composite yachts 60.1 10.6% 56.0 7.4% +7.3%
Made -to-measure
yachts 238.3 42.2% 233.4 30.7% +2.1% Super yachts 265.6 47.0% 461.4 60.6% -42.4% Other businesses 0.9 0.2% 10.0 1.3% -91.0% Total 564.9 100.0% 760.8 100.0% -25.7%
Composite yachts reached €60.1 million, equal to approximately 10.6% of the total net backlog (compared to €56.0 million, equal to approximately 7.4% of the total net backlog as of 30 June 2025 ).
Made -to-measure yach ts reached €238.3 million, equal to approximately 42.2% of the total net backlog (from €233.4 million, equal to approximately 30.7% of the total net backlog as of 30 June 2025 ).
Super yachts reached €265.6 million, equal to approximately 47.0% of the total net backlog (from €461.4 million, equal to approximately 60.6% of the total net backlog as of 30 June 2025 ).
Other businesses reached €0.9 million, equal to approximately 0.2% of the total net backlog (from €10.0 million, equal to approximately 1.3% of the total backlog as of 30 June 2025 ).
Net revenue new yachts The Group’s overall net revenue new yachts were down 5.6%, from € 620.4 million in H1’25 to €585.6 million in H1’26, reflecting an improved trend in the second quarter of 2026, with revenues declining by 2.9% in Q2’26 vs. Q2’25 , compared with the decline of 8.0% in Q1’26 vs. Q1’25 .
8 Sums might not add up to total due to rounding
Net r evenue new yachts by segment The table below shows the breakdown of net revenue new yachts by production type:
EUR million Net r evenue new yachts by segment
H1’26
(unaudited) % of total
net revenue
new yachts H1’25 (unaudited) % of total
net revenue
new yachts Change9 H1’26 vs.
H1’25
Composite yachts 211.6 36.1% 234.4 37.8% -9.7%
Made -to-measure
yachts 255.5 43.6% 253.1 40.8% +0.9% Super yachts 91.7 15.7% 104.4 16.8% -12.2% Other businesses 26.8 4.6% 28.5 4.6% -6.0% Total 585.6 100.0% 620.4 100.0% -5.6%
Composite yachts reached €211.6 million, equal to approximately 36.1% of total net revenue new yachts , (from €234.4 million, equal to approximately 37.8% of total net revenue new yachts , in H1’25).
Made -to-measure yachts reached €255.5 million, equal to approximately 43.6% of total net revenue new yachts (from €253.1 million, equal to approximately 40.8% of total net revenue new yachts , in H1’25).
Super yachts reached €91.7 million, equal to approximately 15.7% of total net revenue new yachts (from €104.4 million, equal to approximately 16.8% of total net revenue new yachts , in H1’25).
Other businesses reached €26.8 million, equal to approximately 4.6% of total net revenue new yachts (from €28.5 million, equal to approximately 4.6% of total net revenue new yachts , in H1’25).
9 Sums might not add up to total due to rounding
Net r evenue new yachts by geographic area10 The breakdown of net revenue new yachts by geographical area is as follows:
Million euros Net r evenue new yachts by geographic area
H1’26
(unaudited) % of total
net revenue
new yachts H1’25 (unaudited) % of total
net revenue
new yachts Change11 H1’26 vs.
H1’25
Europe 252.3 43.1% 250.7 40.4% +0.6%
MEA 163.8 28.0% 219.9 35.4% -25.5%
APAC 29.7 5.0% 9.7 1.6% +206.2%
AMAS 139.8 23.9% 140.1 22.6% -0.2%
Total 585.6 100.0% 620.4 100.0% -5.6%
The Europe region reached €252.3 million, accounting for about 43.1% of total net revenue new yachts (from €250.7 million, accounting for about 40.4% of total H1’25 net revenue new yachts ).
The MEA region reached €163.8 million accounting for about 28.0% of total net revenue new yachts (from €219.9 million accounting for about 35.4% of total H1’25 net revenue new yachts ).
The APAC region reached €29.7 million, accounting for about 5.0% of total net revenue new yachts (from €9.7 million, accounting for about 1.6% of total H1’25 net revenue new yachts ).
The AMAS region reached €139.8 million, accounting for about 23.9% of total net revenue new yachts (from €140.1 million, accounting for about 22.6% of total H1’25 net revenue new yachts ).
Consolidated operating and net results
Adj. EBITDA
The Group's adjusted EBITDA was €92.5 million in H1’26 , compared with €99.1 million of the first semester 2025 . The adjusted EBITDA margin12 confirmed a good resilience at 15 .8%, despite a limited 20 -basis -point s decline compared with the corresponding period of the previous year.
10 The geographical breakdown refers to the dealer's area of exclusivity or by the customer's nationality 11 Sums might not add up to total due to rounding 12 Calculated as EBITDA adj./revenue without pre -owned business
Net profit
The Group's net profit amounted to €37.9 million in the first semester of 2026 , remaining at robust levels, although slightly decreasing compared to the €43.6 million recorded in the corresponding period of 2025.
Overview of the consolidated balance sheet Investments in tangible and intangible assets Investments in tangible and intangible fixed assets as of 30 June 2026 were €30.6 million, of which approximately €15.7 million were allocated to maintaining existing production operations and the current product portfolio and around €14.8 million for business expansion activities .
Consolidated net financial position The net financial position as of 30 June 2026 was €95.0 million of net cash , up € 76.6 million compared to €18.4 million as of 31 March 2026 thanks to a cash releas e from the net working capital mainly linked to seasonal deliveries . Compared with €111.0 million as of 31 December 2025, the net financial position decreased by €16.0 million.
Net working capital The net working capital as of 30 June 2026 was positive at €178.8 million, a decrease of €100.9 million compared to 31 March 2026, in relation to the dynamics mentioned in the previous paragraph .
2026 guidance updated13 The full -year guidance has been updated on a prudent basis in light of the continued geopolitical uncertainty, particularly in the Middle East, and the broader macroeconomic environment that continue to extend customers’ decision -making and negotiation processes.
2025 A OLD 2026E NEW 2026E
Net R evenue New Yachts
(€ millions)
1,231.7
1,250 – 1,265 1,200 – 1,240
13 The Guidance should not be read as forecasts and should not be read as indicating that the Group will achieve such performanc es but are merely objectives that result from the Group’s pursuit of its strategy. The Group’s ability to meet these objectives is based upon the assumption that it will be successful in executing its strategy and is also dependable on the accuracy of a number of assumptions involving factors that are significantly or entirely beyond its control. The objectives are also subject to known and unknown risks, uncertainties and o ther factors that may result in the Group being unable to achieve them
Adjusted EBITDA
(€ millions)
202.8
203 - 210 186 – 197
Adjusted EBITDA margin (%)
16.5%
16.2% - 16.6% 15.5% - 15.9%
Capex
(€ millions)
89.2
70.0 – 75.0 60.0 – 65.0
Significant events that occurred in the first semester 2026 In January, February, and March, the Group participated in the major international boat shows in Düsseldorf, Miami, Palm Beach and Venice .
On 19 January 2026, KKCG Maritime announced its intention to launch a conditional voluntary partial tender offer to acquire up to 52,132,861 Ferretti shares, representing 15.4% of Ferretti’s share capital (the “ Offer ”).
On 29 January 2026, KKCG Maritime announced that it had filed the offer document with Consob and the Executive Director of the Corporate Finance Division of the SFC (the “Executive ”).
On 30 January 2026, Ferretti’s Board of Directors, in compliance with the provisions of the Hong Kong Code on Takeovers and Mergers, established an “Independent Board Committee” composed entirely of the Company’s non -executive directors.
On 27 February 2026, K KCG Maritime announced that it obtained, on February 25th, 2026, the clearance of the Offer document from CONSOB and, on February 27th, 2026, confirmation from the Executive that it had no further comments on the Offer document.
On 2 March 2026, K KCG Maritime made available to the public the Offer document approved by the Authorities and the acceptance form for the Offer.
On 12 March 2026, the Board of Directors of Ferretti approved (by majority, with directors Piero Ferrari, Alberto Galassi and Stefano Domenicali abstaining ) the issuer’s statement in relation to the Offer (the “Response Document”), which has been made available to the public on the Company’s website the same day.
On 16 March 2026, the acceptance period for the Offer began.
On 26 March 2026, KKCG Maritime announced an increase in the Offer’s consideration from €3.50 per share to €3.90 per share and, on the same date, it published the relevant Offer document supplement.
Thus, on 2 April 2026, the Board of Directors of Ferretti approved (by majority, with Alberto Galassi abstaining and Piero Ferrari e Stefano Domenicali voting against) the supplement of the issuer’s statement in relation to the Offer (the “Response Document Supplement ”), which has been made available to the public on the Company’s website the same day.
On 13 April 2026, the acceptance period of the Offer closed and, on April 14th, 2026, KKCG Maritime announced the Offer’s final results: i.e., KKCG Maritime received valid acceptances of the Offer in respect of a total of 29,611,598 shares, representing approximately 8.748335% of the corporate capital of Ferretti and approximately 56.800255% of the maximum number of shares object of the Offer .
Since the number of Shares tendered to the Offer does not exceed 52,132,861 ( i.e., the maximum number of shares object of the Offer ), KKCG Maritime purchased all the shares tendered into the Offer, for an aggregate consideration of Euro 115,485,232.20, without carrying out the allocation procedure described in the Offer document.
On 14 May 2026, the Company announced the resignations of directors Piero Ferrari and Stefano Domenicali, which had been submitted on the evening of 13 May 2026. On the same date, the ordinary Shareholder’s meeting of Ferretti was held and, among others, it :
• Approved the audited separate Financial Statements as of December 31, 202 5 e the allocation of profit ;
• Approved the distribution of an ordinary dividend of Euro 0.11 per share ;
• Approved the "Report on the Remuneration Policy and on Compensation Paid" ;
• Appointed the new Board of Directors, prior determination of the relevant number of members and of the term of office, appointed the Chairman of the Board of Directors and determined the remuneration of the members of the Board of Directors • Appointed the new Board of Statutory Auditors and its Chairman for the financial years 2026 –2028 and it determined the remuneration of the members of the Board of Statutory
Auditors :
For further information on the resolutions of the abovementioned Shareholders’ Meeting, please refer to the press release dated 14 May 2026, available on the website of Ferretti www.ferrettigroup.com ., section “Investor Relations – Press Releases”.
On 15 May 2026, the first meeting of the newly elected Board of Directors was held, during which, among other things, Stassi Anastassov was appointed as the new Chief Executive Officer and the new members of the board committees were appointed.
On 9 June 2026, Azur a.s. filed a writ of summons against Ferretti before the Court of Bologna pursuant to Articles 2377 and 2378 of the Italian Civil Code seeking, inter alia , a declaration of nullity and/or annulment of the resolutions adopted by Ferretti's shareholders' meeting of 14 May 2026, with respect to the appointment of the new board of directors, the number of its members, and the appointment of the board of statuto ry auditors. The claimant has also filed an application
pursuant to Article 2377, paragraph 3, of the Italian Civil Code and Article 700 of the Italian Code of Civil Procedure seeking interim relief to suspend the effectiveness of such resolutions.
Ferretti, having taken note of the service of the writ of summons, is protecting its rights and sought appropriate legal advice to defend and is and will have the absolute correctness of its conduct ascertained before the competent Court.
Ferretti confirms that, as of today , its corporate bodies are fully operational in the exercise of their respective duties and responsibilities, and that its business, customer relationships, commercial initiatives, and strategic projects continue on a regular basis. The proceedings brought by Azur a.s.
against Ferretti have no impact on its operations, and its management remains fully focused on the implementation of its business plan, on serving clients worldwide, and on creating long -term value for all shareholders. Ferretti will keep the shareholders informed of the progress of the matter according to the applicable law and regulations.
Outlook
Top-tier luxury clients continue to exhibit spending behaviours that defy market trends, contrasting with the aspirational luxury segment . The global yachting industry remains resilient amid geopolitical and macroeconomic uncertainty, highlighting its stability and strength. At the date of publication of this document, the geopolitical situation in the Middle East is still causing delays in order intake from the region as well as in the delivery of boats scheduled for that market. It should be noted, however, that not all boats classified under “Middle East” are necessarily delivered to or used within that region.
In this context, the Group maintained profitability and its market share , reinforcing its strategic position not only in high -value segments but also in new emerging and high -growth segments. To continue building on the expected growth trends of the global luxury yacht industry, enhancing its value proposition and strengthening its overall resilience, the Group’s future plans are based on the following strategic pillars :
• the Group will enhance and expand its product offering and product mix ahead of evolving market trends and customer expectations, with the aim to consolidate its market leadership position in both Composite and Made-to-measure segments, focusing on the segments with the highest growth potential and marginality ;
• the Group will continue to invest in innovation, technologies, and products with the aim of providing a more environmentally responsible yachting experience, thanks to the skillful use of more sustainable materials and processes aimed at reducing the environmental impact of the products ;
• the Group will expand its Made-to-measure offering into larger alloy yachts, developing new alloy -hulled super yacht models under its iconic Riva, Pershing, and Custom Line brands ;
• the Group will also broaden both its yacht brokerage, chartering and management services and its after - sales and refitting services ; extend its brand extension and licensing activities ;
• finally , the Group will keep investing in the internalization of high value -added activities to support its future growth and product portfolio expansion.
***
CONFERENCE CALL
The results as of 3 0 June 2026, shall be presented to the financial community through a n audio conference call to be held on 31 July 2026 at 2:00 p.m. CEST, 8:00 p.m. HKT.
To attend the audio webcast meeting, you can register at this link: Webinar Registration - Zoom .
The presentation of the management will be available a few minutes before the starting of the conference call on the website : Ferretti Group Web Site > Investor relations > Reports and presentations .
*** The Executive Officer for Financial Reporting, Marco Zammarchi , declares in accordance with Article 154 bis, paragraph 2, of the Consolidated Finance Act, that the accounting information contained in this press release corresponds to the underlying accounting documents, records and accounting entries.
***
NON -IFRS MEASURE
To supplement the Group’s consolidated results which are presented in accordance with IFRS, EBITDA, adjusted EBITDA, adjusted EBITDA/net revenue without pre -owned, being non -IFRS measures, were also presented. The Group is of the view that this measure fac ilitates comparison of operating performance from period to period by eliminating potential impacts of certain items and believes that this measure provides useful information to understand and evaluate the Group’s consolidated income statements in the sam e manner as they help the Group’s management. However, the Group’s presentation of EBITDA may not be comparable to similar terms used by other companies. The use of this measure has limitations as an analytical tool , as such, it should not be considered in isolation from, or as substitute for analysis of, the Group’s results of operations or financial condition as reported under IFRS.
The periodic financial information , as of 30 June 202 6, has not been audited by the Company’s independent auditing firm.
The Company defines (i) EBITDA as profit after tax plus financial expenses (including the result of operating foreign exchange conversion but excluding exchange rate gains/(losses) related to financial transactions), depreciation and amortization, and income tax expense, and less financial income and income tax benefit; (ii) adjusted EBITDA as EBITDA adjusted by adding back certain special items (including non -recurring costs and other minor non -recurring events); and (iii) net revenue without pre -owned as net revenue excluding revenue generated from the trading of pre -owned yachts.
***
Ferretti Group
With a legacy rooted in Italy’s centuries -old nautical tradition, Ferretti Group is a global leader in the design, construction, and sale of luxury yachts ranging from 8 to 95 meters in length. The Group boasts a unique portfolio of prestigious and exclusi ve brands: Ferretti Yachts, Riva, Pershing, Itama, CRN, Custom Line, and Wally.
Ferretti Group owns and operates seven shipyards across Italy, where efficient industrial production meets the finest Italian craftsmanship. With a direct presence in Europe, the United States, and Asia, and a carefully selected network of dealers, the Gro up reaches clients in over 70 countries worldwide.
The yachts crafted by Ferretti Group’s brands, the ultimate expression of Italian creativity and elegance, stand out for their exceptional build quality, cutting -edge technology, industry -leading safety standards, outstanding performance at sea, and timele ss allure.
For more information: www.ferrettigroup.com
Investor Relations
Head of Investor Relations
Margherita Sacerdoti
Email: margherita.sacerdoti@ferrettigroup.com
T.+39 02 83994 000
Email: Investorrelations@ferrettigroup.com
Ferretti Group
Head of Media Relations
Giovanni Bogetto
Email: Giovanni.bogetto@ferrettigroup.com
T.+39 02 83994 000
Barabino & Partners Barabino & Partners
Federico Vercellino
f.vercellino@barabino.it
Mob: +39 331.5745171
Virginia Bertè
v.berte@barabino.it
Mob: +39 342.9787585
Interim Condensed Consolidated Income Statement
(in thousands Euro) June 30, 2026 (unaudited) June 30, 2025
(unaudited)
Revenue 635,234 676,999 Commissions and other costs related to revenue (31,001) (38,730)
NET REVENUE 604,233 638,269
Change in inventories of work -in-process, semi -finished and finished goods 33,887 22,268 Cost capitalised 18,043 23,496 Other income 23,671 11,257 Raw materials and consumables used (292,474) (288,750) Contractors costs (126,667) (142,429) Costs for trade shows, events and advertising (9,784) (9,335) Other service costs (65,521) (59,728) Rentals and leases (6,634) (6,014) Personnel costs (75,475) (77,450) Other operating expenses (5,405) (5,105) Provisions and impairment (6,156) (7,405) Depreciation and amortisation (35,984) (34,988) Financial income 362 630 Financial expenses (1,589) (1,454) Foreign exchange losses (34) 89
PROFIT BEFORE TAX 54,472 63,350
Income tax (16,606) (19,780)
PROFIT FOR THE PERIOD 37,866 43,569
Attributable to:
Shareholders of the Company 37,875 43,453 Non-controlling interests (9) 116
EARNINGS PER SHARE ATTRIBUTABLE TO
SHAREHOLDERS OF THE COMP ANY
Basic and diluted (€)
0.11 0.13
Interim Condensed Consolidated Comprehensive Income Statement
(in thousands Euro) June 30, 2026 (unaudited) June 30, 2025
(unaudited)
PROFIT FOR THE PERI OD 37,866 43,569
Other comprehensive income/(loss) not to be reclassified to profit or loss in subsequent periods:
Profit on defined benefits plan (24) (596) Income tax effect 6 143
(19) (453)
Other comprehensive income to be reclassified to profit or loss in subsequent periods:
Gains from the translation of foreign operations 2,309 (4,525)
OTHER COMPREHENSIVE INCOME FOR THE
PERIOD 2,290 (4,978)
TOTAL COMPREHENSIVE INCOME FOR THE
PERIOD 40,157 38,591
Attributable to:
Shareholders of the Company 40,165 38,476 Non-controlling interests (9) 116
Interim Condensed Consolidated Statement of Financial Position
(in thousands Euro) June 30, 2026 (unaudited) December 31, 2025
(audited)
CURRENT ASSETS
Cash and cash equivalents 122,941 159,920 Trade and other receivables 70,849 68,145 Contract assets 177,673 227,024 Inventories 471,603 442,405 Advances on inventories 41,266 38,761 Other current assets 1,234 3,945 Income tax recoverable 1,544 1,680
887,110 941,880
NON -CURRENT ASSETS
Property, plant and equipment 486,158 484,818 Intangible assets 284,641 285,368 Other non -current assets 5,382 7,772 Deferred tax assets - -
776,181 777,959
TOTAL ASSETS 1,663,291 1,719,839
(in thousands Euro) June 30, 2026 (unaudited) December 31, 2025
(audited)
CURRENT LIABILITIES
Minority Shareholders’ loan 34 20 Bank and other borrowings 11,281 34,254 Provisions 54,783 57,405 Trade and other payables 458,284 478,892 Contract liabilities 104,249 128,415 Income tax payable 21,568 9,225
650,199 708,210
NON -CURRENT LIABILITIES
Bank and other borrowings 18,585 19,527 Provisions 5,300 9,377 Non-current employee benefits 6,363 6,428 Trade and other payables 1,837 2,087 Deferred tax liabilities 39,156 35,282
71,241 72,701
TOTAL LIABILITIES 721,439 780,911
SHARE CAPITAL AND RESERVES
Share capital 338,483 338,483 Reserves 603,725 600,793
Equity attributable to shareholders of the Company 942,208 939,276 Non-controlling interests (356) (348)
TOTAL EQUITY 941,852 938,928
TOTAL LIABILITIES AND EQUITY 1,663,291 1,719,839
Interim Condensed Consolidated Cash Flow Statement
June 30, 2026 (unaudited) June 30, 2025
(unaudited)
(in thousands Euro)
CASH FLOWS FROM OPERATING ACTIVITIES:
Profit before tax 54,472 63,350 Depreciation and amortisation 35,984 34,988 Loss/(gain) on disposal of property, plant and equipment (24) (24) Provisions (7,284) (832) Financial income (362) (630) Financial expenses 1,589 1,454 Provision against inventories, net (7,667) (340) Decrease / (increase) in inventories (24,036) (15,397) Change in contract assets and contract liabilities 25,185 9,681 Decrease / (increase) in trade and other receivables (2,568) 13,929
Increase / (decrease) in trade and other payables (36,390) (30,707) Change in other operating liabilities and assets 2,559 1,197
41,459 76,667
Cash flows from operating activities (A) 41,459 76,667
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment and intangible assets (37,604) (51,401) Proceeds from disposal of property, plant and equipment and intangible assets 12 80 Other financial investments 2,686 (1,954) Interest received 362 630
Cash flows used in investing activities (B) (34,543) (52,645)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issue of shares 0 0 Dividends paid (37,233) (33,848) New bank and other borrowings 0 1,386 Repayment of bank and other borrowings (7,348) (7,342) Interest paid (1,589) (1,454)
Cash flows from/(used in) financing activities (C) (46,170) (41,258)
NET INCREASE/(DECREASE) IN
CASH AND CASH EQUIV ALENTS (D=A+B+C) (39,255) (17,236)
Cash and cash equivalents at beginning of year (E) 159,920 155,744 Effect of foreign exchange rate changes, net (F) 2,275 (4,525)
CASH AND CASH EQUIV ALENTS AT END OF PERIOD
(G=D+E+F) 122,941 133,982
Cash and cash equivalents as stated in the consolidated statement of financial position 122,941 133,982
Interim Condensed Consolidated Statement of Changes in Equity
Equity
attributable
to the
shareholders
Non Share Share Legal Translation Other of the controlling (in thousands Euro) capital premium* reserve* reserve* reserves* company interests Total equity At January 1, 2026 (audited) 338,483
425,041
18,384
610
156,758 939,276
(348)
938,928
Profit for the period Other comprehensive income for the period: — — — — — — — —
37,875
—
37,875
— (9)
—
37,866
— Profit on defined benefits plan, net of tax Exchange differences on translation of foreign operations — — — — — — —
2,309 (19)
— (19)
2,309 —
— (19)
2,309
Total comprehensive income for the period —
—
—
2,309
37,856
40,165
(9)
40,157
Transfer to the legal reserve 2,232 — (2,232) — — — Dividends — — — — (37,233) (37,233) — (37,233) At June 30, 2026 (unaudited) 338,483
425,041
20,616
2,919
155,149
942,208
(356)
941,85 2
*These reserve accounts comprise the consolidated reserves of Euro 603,725 thousand (January 1, 2026: Euro 600,793 thousand) in the Interim condensed consolidated statements of financial position.
Equity
attributable
to the
shareholders
Non-
Share Legal Translation Other of the controlling Total (in thousands Euro) Share capital premium* reserve* reserve* reserves* company interests equity At January 1, 2025 (audited) 338,483
425,041
15,225
8,263 110,144 897,155 1,081
898,238
Profit for the period — — —
— 43,454
43,454 116
43,569
Profit on defined benefits plan, net of tax Exchange differences on translation of foreign operations — — — — — — —
(4,525) 453
— 453
(4,525) —
— 453
(4,525)
Total comprehensive income for the period — — —
(4,525) 43,906
39,381 116
39,497
Transfer to the legal reserve — — 3,160 — (3,160) 0 — 0 Dividends — — — — (33,848) (33,848) — (33,848) Acquisition of subsidiaries — — — — 30 30 (30) 0 At June 30, 2025 (unaudited) 338,483
425,041
18,384
3,738
117,072
902,717
1,167
903,884
*These reserve accounts comprise the consolidated reserves of €564,235 thousand (January 1, 2025: €558,672 thousand) in the Interim condensed consolidated statements of financial position.
Fine Comunicato n.0425-86-2026 Numero di Pagine: 24