The new horizon of the Ferretti Group on the Stock Exchange will probably be decided at the beginning of the year. The giant from Forlì, one of the main global players in the luxury yacht sector, is also looking forward to a return to the Milan Stock Exchange, as well as in Hong Kong, where it made its debut on 31 March. The company doesn’t mind the idea and its number one, Alberto Galassi doesn’t mind either; the Chinese majority shareholder is expected to dissolve the reserve. He should do it at an assembly at the beginning of the year.
Last November 15, in presenting the financial results as at September 30, 2022*, the company specified that “the company is constantly evaluating potential strategic opportunities” and that “the board has decided to start evaluating possible operations on the capital market at an international level and the related preparatory preliminary investigations, including, by way of example, the potential listing on the Euronext Milan market».
On the table there would also be the complexity of the “dialogue” between the two possible price lists, that of Hong Kong, still “material” and linked to paper, and Euronext, purely digital.
The Navetta 30 by Custom Line, one of the Ferretti Group brands
The past
Ferretti Group had already been listed on the Milan Stock Exchange in 2000, only to exit from it («We were the first nautical group to enter the Stock Exchange. The listing, which took place in the luxury sector together with brands such as Bulgari and Hermès, went very well, even after the IPO. Then, there was the delisting, we left Piazza Affari for financial reasons…”, the memory of the founder Norberto Ferretti). An IPO attempt followed in 2019, but the placement offer was made because the shareholders did not like the price expressed by the market: the initial request started from 2.5-3.7 euros per share, then reduced to 2-2 .5 euros on a proposal from the banks.
*The group closed the first nine months of 2022 with an order backlog of over €1.38 billion, revenues of €779.8 million (+16.5% compared to the same period of 2021), adjusted EBITDA of €106 million euro (+26.4% compared to the first nine months of 2021), a net profit of 47.4 million euro (32.1 million euro in the first nine months of 2021) and a positive net financial position of 393.1 million euros.