Zhixun Finance App reported that Ferretti (09638) released its performance for the nine months ending September 30, 2024, with new orders: 0.7369 billion euros for the 9 months of 2024, a slight decrease of about 15.8% from 0.875 billion euros in the 9 months of 2023. This was mainly due to the significant impact on the performance of the composite material yacht division by market normalization, despite growth in the performance in the third quarter of 2024, and the impact of year-on-year comparison on the customized division, while the customized division excelled in the Middle East and Africa region in the third quarter of 2023.

Accumulated orders: As of September 30, 2024, reached 1.3263 billion euros, a decrease of about 9.9% compared to 1.4717 billion euros as of September 30, 2023, mainly due to normalization of new orders in 2024.

Net cumulative orders: As of September 30, 2024, it was 0.78 billion euros, a decrease of about 9.4% from 0.8607 billion euros as of September 30, 2023.

New yacht net income: 0.8653 billion euros for the 9 months of 2024, an increase of about 3.8% from 0.8339 billion euros in the 9 months of 2023, attributed to the cumulative orders in 2023 and 2024.

The CEO's perspective: "As we close this quarter, our profitability reaches a new high of 16%, confirming the strength and effectiveness of our strategy. In the third quarter of 2024, the super yacht division saw significant growth in new orders, proving successful market positioning through brand strengthening. The composite material yacht division also showed outstanding performance, with expectations for an increase in yacht new orders. In addition, the excellent performance at major Mediterranean boat shows along with the upcoming Americas season further drive our prospects, both of which can bring tangible benefits in the short term. The total value of cumulative orders as of September 30 is 1.3 billion euros, matching the record of the first 9 months of 2023. In terms of production, we continue to construct the Lavagna shipyard at full speed, expecting expansion soon to further enhance the products provided, optimize the product mix, and integrate the positioning of each division with high growth and profit potential."