FERRETTI GROUP AT THE MONACO YACHT SHOW CELEBRATES 60 YEARS OF CRN AND MAJOR INVESTMENTS IN INNOVATION AND SUSTAINABILITY

Seven magnificent boats on show: Riva 130’ Bellissima, Custom Line Navetta 42 and Custom Line 140’, Pershing GTX116, Pershing 140, wallywhy200 and wallypower58.

The Group celebrates 60 years of CRN, the bespoke brand with an incomparable history of excellence, craftsmanship and Italian-made innovation. To mark this splendid anniversary, CRN obtains Sustainable Powered Yacht (SuP-Y) certification thanks to a sustainable technology that entails the installation of modern fuel cells on board a superyacht.

 

Investments, sustainability and outstanding performance: Ferretti Group brings new products, projects and beautiful boats to the Monaco Yacht S how running from today until September 30. The fleet brought to the show is made up of seven models: Riva 130’ Bellissima, Custom Line Navetta 42 and Custom Line 140’, wallywhy200, wallypower58, Pershing GTX116 and Pershing 140.

 

The enchanting setting of the Monaco Yacht Show is also an opportunity to celebrate 60 years since the creation of CRN, the Ferretti Group brand that has revolutionised the yachting world with sharp insights and remarkable achievements that have influenced style trends and the global market. CRN celebrates this anniversary by obtaining Sustainable Powered Yacht (S uP-Y) certification and writing an important chapter in the brand’s history of excellence and innovation. A coordinated effort by Ferretti Group Super Yacht Division, Weichai Power Science & Technology Division and Rina Services Spa has made

it possible to develop a sustainable architecture that entails the installation of modern fuel cells on board a CRN superyacht.

 

This new technology is a milestone in the industry and takes the first steps towards the future of yachting, based on an easy- to-manage solution that meets all legal requirements for safe deployment.

 

“Ferretti Group, and yachting in general, are in a state of grace today that promises a bright future. This positive energy allows and requires us to invest and grow responsibly, focusing on new technologies and sustainable innovations such as those announced in the area of fuel cells,” said Ferretti Group CEO Alberto Galassi. “A good example is set by CRN, our glorious shipyard that celebrates 60 years at the cutting edge with an important certification in the fuel sector. Ferretti Group has the merit and good fortune to have the most iconic brands in the industry, and it is on their solidity and success that we will build

the yachting of tomorrow.”

 

At the press conference traditionally held on the opening day of the Show, the management team first outlined the excellent financial performance of the Group, which after ending fiscal 2022 with outstanding results completed the dual listing of its ordinary shares on Euronext Milan, following their debut last year on the Hong Kong stock exchange. As a result, over 50% of the share capital is traded in the market, making Ferretti Group a public company backed by Italian and International investors.

This is unique on the market and has enabled the Group to continue to deliver outstanding performance: in the first half of 2023, the company reported revenues of €580.8 million (+8.6% compared to the first half of 2022), a margin of 14.7% (+1.2%),

a net financial position equivalent to €320 million in cash, and order intake of €573 million in the six-month period. As a result, the order backlog at June 30 increased to €1.410 billion, a rise of about 15.8% on June 30, 2022 (when it stood at €1.2 billion).

 

The Group isn’t only in excellent financial shape in 2023, because this is also a year of major new developments in terms of products and production capacity, with a 20% increase in global production surface area as a result of recent upgrades and acquisitions (355.4 thousand square metres at the end of 2022 vs 425.4 thousand in the first half of 2023). These investments have made it possible to expand several production sites, not least the Super Yacht Yards in La Spezia and Ancona.

 

As usual, the Group is joined at the event by luxury industry partners offering guests and visitors a packed programme of events. Land Rover, confirmed as official automotive partner, and private aviation leader Flexjet, plus Agath, Venini, Culti, Perennials and Ethimo providing the elegant outdoor furniture. The numerous Italian partners include Dolce & Gabbana for the tailor-made staff uniforms, Frette, Lavazza with the brand’s latest selection of coffee blends, and La Scolca and Veuve Clicquot offering quality wines and champagnes. The Monaco Yacht Club is also providing invaluable support.

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