Ferretti cuts guidance again as uncertain environment slows yacht market
Ferretti cuts guidance again as uncertain environment slows yacht market Oct 27 (Reuters) - Italian yacht builder Ferretti YACHT.MI cut its 2026 guidance for the second consecutive quarter on Tuesday, saying customers were taking longer to decide on purchases amid geopolitical uncertainty.
"Our profitability remains below the level Ferretti Group can and should deliver," CEO Stassi Anastassov said in the earnings statement, as he announced targeted actions to improve performance in the Americas, the Middle East and the company's Super Yacht business.
Ferretti sees 2026 adjusted EBITDA of €174-185 million ($195-207 million), down from €186-197 million previously
The group's adjusted core profit fell 7.8% to €130.6 million in the first nine months of 2026
Order intake also fell 13.8%, with sharp declines in the Middle East and the Americas
Ferretti reiterated its target for annual net revenue of €1.20-1.24 billion
($1 = 0.8946 euros)
(Reporting by Fabrizio La Rocca in Gdansk, editing by Milla Nissi-Prussak)
((Fabrizio.larocca@thomsonreuters.com))
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