Honestly, if you’ve been following the luxury yachting world, you know it’s rarely just about the shiny hulls and the champagne. October 2025 proved that point in spades for the Ferretti Group. While the world was looking at the gorgeous silhouettes on the water at the Fort Lauderdale International Boat Show (FLIBS), there was a much more complex story unfolding in the boardrooms and financial ledgers.
It was a month of massive highs—think record-breaking order intakes—and some pretty intense behind-the-scenes friction.
The Financial Surge: Why the Numbers Don't Lie
On October 23, 2025, the Board of Directors met in Forlì to approve the consolidated financial results for the first nine months of the year. The numbers were, frankly, staggering. We're talking about net revenues from new yachts hitting €887.2 million. That’s a 2.5% bump compared to the same period in 2024.
But the real "wow" factor? The order intake.
In the third quarter alone, orders jumped by about 36%. If you zoom in on the Made-to-Measure segment, that figure rockets to an insane 185% increase. People aren't just buying boats; they are buying highly customized, massive assets. CEO Alberto Galassi wasn't shy about it either, noting that the "Mediterranean boat show season has been a success" and that the market recovery is giving them serious tailwinds.
Ferretti Group News October 2025: The FLIBS Fleet
You can't talk about October without mentioning the Fort Lauderdale International Boat Show, which kicked off on the 29th. This is the big one for the American market, and Ferretti brought the heavy hitters. They showed up with a seven-vessel fleet that basically acted as a victory lap for their 2025 design cycle.
- Pershing GTX70: This was a big deal because it marked the brand's 40th anniversary. It’s the third model in their Sport Utility Yacht range and made its American premiere here.
- wallywhy200: This was the first full-wide-body superyacht from Wally to hit the U.S. market. It's got that "spaceship on water" vibe that Wally is famous for, focusing on a massive connection to the sea.
- Custom Line Saetta 106’: Part of their rebranding of the planing line, showing that the "Made-to-Measure" demand isn't slowing down.
They also had the Ferretti Yachts INFYNITO 90 and the Riva 82’ Diva on display. It’s a lot of fiberglass and Italian leather in one place.
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The Weichai Dispute: Tensions at the Top
Now, here’s the part that wasn't in the glossy brochures. Around October 9, reports started swirling about a renewed power struggle between Ferretti’s management and its largest shareholder, China’s Weichai Group.
Weichai owns about 37.5% of the company. According to internal memos leaked to Bloomberg, Weichai isn't happy. They've allegedly accused Galassi of "centralizing control" and claimed their board representatives have been effectively "cut off" from the headquarters in Forlì, left to handle "sporadic, superficial tasks" in the Milan office.
This isn't just corporate drama. It’s a geopolitical headache. Italy has these "Golden Power" rules designed to protect strategic national industries from too much foreign influence. Some observers are drawing parallels to the Pirelli situation, where the Italian government stepped in to limit the governance role of Chinese investors.
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The Spy Scandal Hangover
To make things even weirder, this friction is happening against the backdrop of an ongoing investigation into listening devices found in Ferretti’s Milan offices back in 2024. These bugs were reportedly found in rooms used by Chinese board members. While the company filed a complaint as an injured party, it’s clear the trust has been thin for a while.
Breaking Down the Portfolio Performance
If you look at where the money is actually coming from, the shift in the market is obvious. Composite yachts are still a staple, but the Super Yacht and Made-to-Measure segments are where the growth is.
The order backlog as of September 30 reached €794.7 million. That is a lot of work booked for the coming years. Interestingly, the Group's net financial position sat at €65.2 million in net cash. While that’s down slightly due to the usual Q3 working capital absorption (building boats is expensive!), the company remains incredibly liquid.
What This Means for You
So, what’s the takeaway from all this Ferretti Group news from October 2025?
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If you're a buyer, the message is clear: the queue is getting longer. With a double-digit growth in the backlog (+12.9% year-on-year), if you want a custom build, you're looking years into the future.
For investors, the stock (YACHT on the BIT) saw some volatility in October, starting the month around €2.70 and hitting highs near €2.96 following the financial release. The fundamental business is rocking, but the governance dispute with Weichai is a "wait and see" risk factor.
Actionable Insights for Yacht Enthusiasts & Investors:
- Monitor the "Golden Power" Developments: Keep an eye on how the Italian government reacts to the Weichai dispute. Any move to further restrict Chinese governance could impact how the company is run.
- Focus on the Made-to-Measure Segment: This is where the 185% growth is. If you're tracking the luxury market, this segment is the primary bellwether for ultra-high-net-worth sentiment.
- Watch the 2026 Deliveries: With 47 units over 30 meters currently under construction, the next 12 months will be a test of the Group's ability to maintain margins while scaling production at the Ancona Superyacht Yard.
- The American Season is Key: The success at FLIBS usually dictates the Q1 intake for the following year. Given the premieres of the GTX70 and wallywhy200, expect a strong start to 2026 in the AMAS region.