Ferretti Group celebrates 60 years of CRN
The Ferretti Group celebrated 60 years of CRN during the Monaco Yacht Show. where they had seven magnificent yachts on display including the Riva 130’ Bellissima, Custom Line Navetta 42, Custom Line 140’, Pershing GTX116, Pershing 140, wallywhy200 and wallypower58. To mark this special anniversary, CRN obtained 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
The enchanting setting of the Monaco Yacht Show provided the perfect opportunity to celebrate 60 years since the creation of CRN, the Ferretti Group brand has revolutionised the yachting world with its sharp insights and remarkable achievements that have influenced style trends and the global market.
CRN celebrated this Anniversary by obtaining Sustainable Powered Yacht (SuP-Y) certification and thereby 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 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 some of 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. 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 Superyacht Yards in La Spezia and Ancona.