Italy's Ferretti Q1 revenue falls, hurt by softer commercial environment

Ferretti SpA

19/05/2026 09:07

Overview

Italy luxury yacht maker's Q1 net revenue fell 8% yr/yr amid softer commercial environment

Order intake dropped 33.6% yr/yr, impacted by geopolitical tensions in the Middle East

Adjusted EBITDA and net profit declined yr/yr, with EBITDA margin slightly improving

Outlook

Ferretti sees 2026 net revenue new yachts at €1,250–€1,265 mln

Company expects 2026 adj EBITDA margin between 16.2% and 16.6%

Ferretti forecasts 2026 capex in the range of €70.0–€75.0 mln

Result Drivers

GEOPOLITICAL UNCERTAINTY - Co said global tensions, especially in the Middle East, delayed contract signings and yacht deliveries

SOFTER COMMERCIAL ENVIRONMENT - CEO said Q1 reflected a softer commercial environment and slower order conversion

SEGMENT VARIATION - Composite yacht orders grew, but made-to-measure and super yacht orders declined sharply

Company press release: ID:nBIA7bK0C5

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Orders
EUR 179.60 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the recreational products peer group is "buy"

Wall Street's median 12-month price target for Ferretti SpA is €4.23, about 30.4% above its May 18 closing price of €3.24

The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 12 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)