Difference between revisions of "Ferretti"

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{| border=1 align="right" cellpadding=2 cellspacing=0 width=250  style="margin-left:3em; margin-bottom: 2em;"
 
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|colspan=2|[[Image:Ferretti logo.jpg|150px|center]]
 
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!colspan=2 style="color: white; background: darkred;"|'''Ferretti Group'''
 
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|Company slogan  || leader'''ship'''
 
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|Vector logo      ||
 
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|Company type    || [[Private Company|Private]]
 
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|Genre            ||
 
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|Foundation      || [[1968]]
 
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|Founder          || [[Alessandro Ferretti|Alessandro]] and [[Norberto Ferretti]]
 
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|Location        || [[Forlì]], [[Italy]]
 
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|Origins          || [[Italy]]
 
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|Key people      || [[Norberto Ferretti]], [[chairman]]<br>Ferruccio Rossi, [[CEO]]
 
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|Area served      || Worldwide
 
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|Industry        || Yachtbuilding
 
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|Products        || Ferretti, Pershing, Itama, Bertram, Riva, Apreamare, Mochi Craft, Custom Line, CRN
 
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|Revenue          || {{profit}} €770.4 million [[Euro|EUR]] ([[2006]])
 
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|Operating income || {{profit}} €118.4 million EUR (2006)
 
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|Net income      || {{profit}} €26 million EUR (2006)
 
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|Num employees    || 2,800 (2006)
 
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|Parent          || 60% [[Candover]]<br>10% [[Permira]]
 
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|Subsid          || [[#Group structure|view all subsidiaries]]
 
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|Owner            ||
 
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|Homepage        || [http://www.ferrettigroup.com/ www.ferrettigroup.com]
 
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|Footnotes        ||
 
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'''[[Ferretti Group]]''' is an [[Italy|Italian]] yachtbuilding conglomerate founded in 1968. The company initially produced small boats and in 1971 it produced the first [[sailboat|motorsailer]]. It now focuses on the [[powerboat]] sector, specializing in [[luxury motoryacht]]s production. The group is based in [[Forlì]] and is one of the leading companies in the world of design and construction of luxury motoryachts and sporting boats measuring from 7 to 80 [[meter]]s long. It employs 2,800 people directly, out of which over 100 specialised engineers who comprise the group's design team.
 
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According to a research carried out by [[Business Week]], Ferretti Group is the top Italian company and twenty-eighth of the 500 Hot Growth Companies in Europe. The research ranked companies based on their turnover growth compared with the sales volumes and number of employees and included top European companies from different sectors. The group is the only company in the nautical world on the list.
 
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==Group structure==
 
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[[Image:Ferretti 68'.jpg|right|thumb|340px|Ferretti model 68' (2005) cruising at 31 [[Knot (speed)|knots]] in the rarely-calm [[Aegean Sea|Aegean]].]]
 
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The group consists of the following design and production companies:
 
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*''Ferretti Yachts division'' (flybridge motoryachts, 14 to 27 meters)
 
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*''Pershing S.p.A.'' (high performance open cruisers, 11 to 35 meters)
 
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*''Itama Cantieri Navali S.p.A'' (open motoryachts, 13 to 23 meters)
 
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*''the American Bertram Yacht, Inc.'' (sport fisherman motoryachts, 12 to 22 meters)
 
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*''Riva S.p.A.'' (open and flybridge motoryachts, 10 to 35 meters)
 
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*''Apreamare S.p.A.'' in [[Sorrento]] (“gozzo sorrentino”, 7 to 20 meters)
 
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*''Mochi Craft division'' (lobster boats, 13 to 23 meters)
 
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*''Custom Line division'' (maxiyachts in composite materials from 30 to 34 meters with two decks) and,
 
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*''CRN S.p.A.'', (maxiyachts in composite materials from 39 to 43 meters with 3 decks and steel megayachts from 46 to 8 meters.
 
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The Group has also a marketing subsidiary for the [[US]] and [[Canada]] (''Ferretti Group USA, Inc.''), a company specialized in the production of [[fiberglass]] products (''Resin Sistem S.r.l.''), a company specialized in the production of boat interiors (''Diesse Arredamenti''), a distributor of [[diesel]] [[marine engine]]s, [[marine propulsion]] and control systems, [[reverser]]s, [[reducer]]s and [[Electrical generator|generator]]s (''Diesel Center''), a company specialized in yacht painting and refitting (''Pinmar S.L.''), a company specialized in the production of wooden fixtures and furnishing for megayachts over 100 feet (''Zago S.p.A.''), and lastly ''Slys'' (La Spezia Luxury Yacht Service), ''CRN Ferretti Group Monaco S.A.M.'' of [[Montecarlo]] and ''Cantiere Navale M.Morini'' of [[Ancona]].
 
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==Financial data==
 
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Ferretti Group has a 90.7% three-year expansion rate and a Production Value of 770.4 million [[Euros]] as of 31st August 2006 (an 18% increase compared with previous year's 652.9 million Euros). The group's [[EBITDA]] rose by +37.7% to 118.4 million euros (85.9million euros in 2005), and [[net income|net profits]] rose by +118.8% to 26 million euros (11.22 million euros at August 31, 2005), while the net borrowings decreased by 90 million euros to 407 million euros (497 million euros in 2005). The number of boats delivered was 461 in 2006 from 419 in 2005 and the order backlog was at an all-time high of more than 635 million euros, up about 62.4%.
 
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The increase in financial data is attributed to the growing demand in both Group’s traditional brands (''Ferretti Yacht'', ''Riva'' and ''Pershing'') and newly introduced product lines (''Mochi Craft'' and ''Maestro'' of Apreamare), as well as in the relaunching of the ''Itama'' brand and the positive performance of ''CRN'' in the steel megayacht segment. Other factors were further growth in the established Italian and [[Europe]]an markets, as well as strong sales in the emerging markets of the [[Far East]], and more assertive marketing strategies in such new markets as [[Russia]], [[Brazil]] and [[South America]] in general. The increase in profits is attributed to the contribution of new production facilities, to the launch of increasingly large new models and to a steady effort to maximize intra-Group synergies.
 
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The contribution of foreign business accounts for 78% of the Group’s production value, about half of which is directed to [[EU]] countries.
 
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==History==
 
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The company was founded in 1968 by [[Alessandro Ferretti|Alessandro]] and [[Norberto Ferretti]] and produced its first motor sailer in 1971. During the 1980s, the two brothers decided to specialize in the production of luxury motoryachts. They established a new unit in [[Forlì]], which today houses the company headquarters. In 1998 the group acquired the already affiliated company ''Custom line'' and the controlling interest of ''Pershing'' and ''Bertram''. The acquisitions continued in 1999 and 2000, when the company purchased the ''CRN'' ([[Ancona]]) and ''Riva'' ([[Sarnico]]) shipyards.
 
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In 2001, the group proceeded in two more acquisitions: ''Apreamare S.p.A'' boatyards ([[Sorrento, Italy|Sorrento]], [[Naples]]) and ''Mochi Craft'' boatyards ([[Pesaro]]).
 
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In 2003, the group proceeded further in acquiring ''Cantiere Nacale M. Morini S.p.A'' ([[Ancona]]) and several companies with activity in compementary sectors, such as the [[Spain|Spanish]] ''Pinmar S.L.'' (yacht painting and refitting), and ''Zago S.p.A.'' (wooden fixtures and furnishing). Finally, in 2004, the group's subsidiary ''Pershing'', purchased ''Cantieri Navali S.p.A.'' ([[Rome]]).
 
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An exclusive distribution network of over 75 selected dealers undertakes the group's products marketing and after sales service in 96 countries.
 
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Customers of the group have included [[Richard Burton]] and [[Brigitte Bardot]].
 
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===Racing===
 
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Motivated by the needs for high tech synergy, and greater international recognition, the company entered in 1989, into [[Offshore powerboat racing|offshore racing]]. The sporting results achieved were excellent. [[Norberto Ferretti]] won the Class 1 [[Offshore World Championship]] title in 1994.
 
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The Ferretti team won the [[European Offshore Championship]] in 1995. In 1997 it won both European and World champion titles. The company attributes these winnings to a hi-tech hull designed with a carbon-fiber autoclave.
 
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===Ownership===
 
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In 1995, after the sudden death of Alessandro Ferretti, 70% of the group was acquired by [[Permira]]. In 2000, it was temporarily listed in the [[Italian Stock Exchange]], but decided to be taken private citing concerns for negative financial climate by the [[September 11, 2001 attacks]]. Permira had a 54 times return of its original investment from the listing.
 
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In October 2006, the owners reconsidered flotation and filed an application to list its shares on the Milan stock exchange. Due to a high level of interest from private equity buyers, the [[IPO]] was postponed. [[Candover]] bought 60% of the company in an auction, outbidding the French [[PA Partners]] and leaving the rest 30% to the founder and 10% to Permira. Based on financial data, the group was valued at 1.7 billion euros. No change is expected in the group's management.
 
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===Technology===
 
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Together with [[Mitsubishi]] the Ferretti group has developed a system called ARG ([[Anti rolling gyro|Anti Rolling Gyro]]), which reduces the effects of the waves on their boats, using a [[counterweight]] and a [[gyroscope]].
 
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==Shipyards==
 
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The total indoor and outdoor surface covered by the group's shipbuilding activities is 673,000 square meters, in 19 Italian, 2 Spanish and one American production units.
 
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While works are still in progress, the company started partially operating in a new production center at [[La Spezia]] in March 2004, which will become the group's largest in terms of technical, logistical and sales support in the northern [[Tyrrhenian Sea]]. The overall investment is 26 million [[euros]], and for the moment it produces ''Riva'' yachts over 21 meters long. It has an area of over 15,000 square meters, and once completed, it will include 2 industrial buildings, two office buildings, and 400 meters of [[pier]]s and [[dock (maritime)|docks]] served by a mobile 400-ton travel-lift. It will feature a center for the testing, launching and delivery of all crafts and provide harbor and support services to customers.
 
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A new boat production center at [[Torre Annunziata]], [[Naples]] is also underway and will be completed by the end of 2006. It will be over 125,000 square meters, (65,000 square meters of it covered) and it includes an internal private dock of 10,000 square meters with 100 moorings, and a channel for sea access. A travel-lift will be used on very large boats, for quick, hassle-free inspections and sea-trials, as well as haulage. Total investments are currently estimated at 55 million [[euros]].
 
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== External links ==
 
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*[http://www.superyachttimes.com/yachts/search/?name=&yacht_type=0&min_length=&max_length=&year_from=&year_to=&shipyard=25&country=0&hull=&designer=0 Yachts build by CRN Ancona]
 
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*[http://www.superyachttimes.com/yachts/search/?name=&yacht_type=0&min_length=&max_length=&year_from=&year_to=&shipyard=608&country=0&hull=&designer=0 Superyachts build by Pershing]
 
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*[http://www.superyachttimes.com/yachts/search/?name=&yacht_type=0&min_length=&max_length=&year_from=&year_to=&shipyard=384&country=0&hull=&designer=0 Superyachts build by Riva]
 
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[[Category:Companies of Italy]]
 
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[[Category:Shipbuilding companies of Italy]]
 

Latest revision as of 16:55, 27 September 2009

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