The company has also revised its full-year guidance, citing geopolitical uncertainty and longer sales negotiations, particularly in the Middle East.
Ferretti Group H1 Results at a Glance
Ferretti Group's first-half results reflect a softer trading environment, although the company continued to generate strong cash and maintain healthy profitability.
- Net revenue: €585.6 million, down 5.6% year-on-year
- Adjusted EBITDA: €92.5 million, with a 15.8% margin
- Net profit: €37.9 million, down from €43.6 million in H1 2025
- Order intake: €341.4 million, compared with €467.3 million a year earlier
- Net backlog: €564.9 million at 30 June 2026
- Net cash position: €95 million, up €76.6 million from the end of Q1 despite paying approximately €37.2 million in dividends
The figures also mirror a broader trend across the superyacht industry, where longer sales cycles, more cautious buyers and fewer high-value contracts are affecting order activity.
An Industry Adjusting to Slower Demand
While the reduction in order intake is one of the headline figures in Ferretti's results, it also provides a clearer indication of current market conditions than previous reporting periods.
Ferretti's revised guidance reflects challenges being experienced across much of the yacht building sector rather than issues unique to the Group. The company attributed the updated outlook to continued geopolitical uncertainty, particularly in the Middle East, alongside broader macroeconomic conditions that are extending negotiation timelines with prospective buyers.
Revenue, which fell 8% year-on-year during the first quarter, declined by a more modest 2.9% in the second quarter, suggesting trading conditions improved as the half progressed despite remaining below last year's levels.
The Impact of Ultra-Large Yacht Orders
YachtBuyer Intelligence has tracked the 94m CRN Project C147, a 2,990GT superyacht due for delivery in 2029, despite the order never being formally announced by Ferretti. Projects of this scale can have a significant impact on reported order intake and backlog, meaning the absence of similarly sized contracts in the latest reporting period provides a clearer view of activity across the Group's wider production and semi-custom business.
That does not necessarily indicate weakening demand for the Group's flagship custom yachts. Instead, it illustrates how the timing of a handful of ultra-large superyacht contracts can materially affect reported order figures from one reporting period to the next.
For the full year, Ferretti has adopted what it described as a prudent outlook while negotiations continue to take longer to conclude.
New CEO Focuses on Long-Term Growth
The half-year results are the first to be presented under Global Chief Executive Officer Stassi Anastassov, who joined Ferretti Group two months ago. Responsible for leading the company's portfolio of brands - Ferretti Yachts, Riva, Pershing, Itama, Custom Line, CRN, and Wally - Anastassov said the business remained financially strong but acknowledged that commercial momentum had slowed as customer decision cycles lengthened and competition increased across several market segments.
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 approach will create greater value over time."
CEO
Group’s Global Chief Executive Officer,
Rather than pursuing short-term volume, he said the Group would focus on rebuilding commercial momentum while protecting pricing discipline and the long-term value of its brands. Recent initiatives include strengthening commercial execution, improving the owner experience, reinforcing product governance and increasing organizational accountability, with the aim of supporting more sustainable growth beyond 2026.
Although Ferretti expects market uncertainty to continue through the remainder of the year, its balance sheet remains one of the strongest among listed yacht builders. Strong cash generation during the second quarter lifted the Group's net cash position to €95 million, providing financial flexibility as the market works through a slower ordering cycle.
Looking to buy a Ferretti yacht? View all new and used Ferretti yachts for sale, tracked in real time by YachtBuyer MarketWatch. We scan the entire market to ensure access to all genuine listings, saving you time. Alternatively, you can view all other yachts for sale.
