Ferretti Group exceeded its 2024 forecast, recording an adjusted EBITDA margin of 16,2%, above guidance (16,0%-16,1%), with net revenues of €1.173,3 million, positioning itself in the high end of estimates.
The order book reached a historic record of €1,7 billion, up 25,5% compared to September 30, 2024 and 11,6% compared to December 2023. Adjusted EBITDA reached €190 million, up 12,3% compared to the previous year, while net profit rose to €88,2 million, up 5,6%. The net financial position at December 31, 2024 shows net liquidity of €124,6 million, compared to €149,6 million at September 30, 2024.
The Board of Directors, which approved the results, also co-opted Tan Ning and Hao Qinggui, following the resignation of directors Xu Xinyu (executive director) and Zhang Quan (non-executive, non-independent director), both for age reasons.
Lawyer Alberto Galassi, CEO of the Group, declared:
“We close 2024 with great optimism and the satisfaction of having achieved extraordinary goals. Our constant growth, year after year, has allowed us to collect unprecedented results, both in terms of order book and margins, confirming the solidity of our strategy and the strength of our brands in the market. The order book, which reached the record figure of 1,7 billion euros, grew by 11,6% compared to 2023 and by as much as 25,5% compared to the first nine months of 2024. The best result ever, driven not only by the exceptional performance of the last quarter of the year, but also by the constant trust of our customers in our ability to innovate, guarantee quality and offer maximum reliability. In terms of profitability, we exceeded the 2024 guidance with a margin of 16,2%, a result that attests to our operational efficiency and ability to guarantee high levels of profitability. A further demonstration of our ability to generate value, maximizing resource efficiency and continuously improving financial management. These successes strengthen our determination and project us with even more momentum towards the future. For this reason, we will continue to invest to expand our presence on global markets, focusing on technological innovation and the enhancement of our product range, with the aim of further consolidating the leadership of Ferretti Group”.
