+5% on the Stock Exchange, orders worth over 1.3 billion euros - Corriere.it

+5% on the Stock Exchange, orders worth over 1.3 billion euros - Corriere.it

With the ringing of the iconic bell, the Ferretti group made its debut on Tuesday 27 June in Piazza Affari up 4.67%. A few minutes after the start of trading, the price of the luxury yacht company, led by Alberto Galassi, settled at 3.14 euros per share against the 3 euros of the placement.

For Borsa Italiana the ninth admission to Milan since the beginning of the year — said Barbara Lunghi, Head of Primary Markets of Borsa Italiana Euronext Group —. Today you join the family of the Euronext group, the leading pan-European structure that brings together over 1,900 companies and also the largest European liquidity with over 6,400 institutional investors from all over the world. Our portfolio is enriched by the world leader in the design, construction and sale of luxury pleasure motor yachts with 7 iconic brands, 7 shipyards in Italy. A quotation expected by the Italian Stock Exchange which confirms Milan as the reference market for the Made in Italy luxury sector which today has around fifty stocks with a capitalization of around 116 billion euros, added Lunghi.

He opens his speech with the thanks to Tan Xuguang (President of Weichai) the lawyer Alberto Galassi: without him I would never have made it, he said. I love contemporary art and as my friend Domenico Dolce says (founder together with Stefano Gabbana of the Dolce & Gabbana fashion house ed), we are condemned to beauty. Picasso said that inspiration exists but it has to find you at work. We make the most beautiful boats in the world but inspiration is not enough. Behind it is the work of 1,800 families who allow me to be on this stage today. The company has orders worth over 1.3 billion euros. Real orders, the manager underlined, emphasizing again: we have orders until 2025 or 2026. The group will now focus on acquisitions, added the CEO.

The CEO recalled when in 2012 the company was in great difficulty. In 2012 nobody considered Ferretti. Tan Xuguang saw a moored Riva and picked it up, relaunching it together with the group. We owe the success to this man's vision. We try to give the right boost to the power of Ferretti yachts. I hope to provide more support, said the president of Weichai, speaking remotely. The manager recalled that when the Chinese group bought the company in 2012, this invoiced around 300 million, while today it has reached 1.07 billion eurosalso by consolidating acquisitions.
As far as future expectations are concerned, this 2023 was the best year since the relaunch, Galassi declared, but I'm sure it will improve even more in '24 because from the signs we have, those who enter this privileged world never leave it. Now we have to carry on with the growth plan which is going very well, added the CEO, explaining that the group will focus on acquisitions.

In addition to the top management of the luxury yacht company, the ceremony for the ringing of the bell was also present the Minister of Tourism Daniela Santanch. Today is one of those days that makes us even more proud to be Italian. The Ferretti group is an ambassador of Italy in the world, with its iconic brands that tell a piece of our nation's history - said the minister -. In all parts of the world there is a piece of our way of life. I want to thank all of you for making us more proud to be Italian.
Special thanks were addressed by the lawyer Galassi a Piero Ferrari who holds about 8% of the company's capital through the holding company F. Investments SA To win, you need the champions and we have one: Piero Ferrari on board with us since 2016 – said Galassi – If there is a man who understands luxury, he has the style of beauty and markets.

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