In 2021, the Ferretti Group generated more than Euro 900 million in total economic value, up 42% compared to 2020 and 30% compared to 2019; of the economic value generated, the economic value distributed to the various stakeholders, including suppliers (operating costs), employees, capital providers, the Public Sector, shareholders and the local community, represents approximately 90% of the total, as shown below:
- (€ THOUSANDS)
- Economic value generated
- Economic value distributed
- Operating costs
- Value distributed to employees
- Value distributed to providers of capital
- Value distributed to shareholders
- Economic value retained
For years, more than 75% of the total economic value generated has been distributed along the Group's supply chain; this has led to the creation of a real and ever-expanding ecosystem, predominantly made up of small and medium-sized Italian companies, with whom Ferretti Group has a long history of productive collaboration. While it is true that the Group's complex supply chain allows Ferretti Group to lead the world by exporting its yachts to every corner of the planet, it is also thanks to Ferretti Group that those small and medium Italian companies that contribute to the production of the Group's products have the opportunity to deal indirectly with the global market. In selecting its suppliers Ferretti Group maintains the highest quality standards and takes into account the individual characteristics of each brand. This approach begins as early as the design phase, which often involves co-design activity between the Group and specific suppliers.
Total value of orders (2021)
Percentage of orders to italian companies
Total number of Ferretti SpA suppliers and Zago SpA
Increase in purchase order 1
1 +54% on total order value compared to 2020 (+17% on 2019).
Confirming the Group’s strong local presence, there is a concentration of turnover in the regions where its shipyards are located. In 2021, 26% of Italian purchases were made in the Marche region (30% in 2019), home of the Ancona and Mondolfo shipyards, 22% in Emilia-Romagna (22% in 2020), where the Ferretti Group is present at the Forlì and Cattolica facilities, 16% in Lombardy, location of the Sarnico shipyard and offices in Milan (15% in 2020), and 11% in Liguria, home to the La Spezia shipyard (6% in 2020). The graphic below shows the breakdown of purchases by Italian region and product category for Ferretti S.p.A. only:
The Group's economic activity brings jobs benefits: beyond Ferretti Group's 1,600 employees, an indirect workforce in Italy of an additional 3,800 people is estimated. This analysis considers the Group’s suppliers throughout the Italian supply chain and estimating that the percentage of the economic volume spent on personnel costs in our sector for each product category is on average 40% of the total value spent, and assuming an average annual gross cost of € 55,000 for each employee, this therefore gives a figure of approximately 3,800 people.
As evidence of the importance of the Group's creation of value in the territory, it is specified that this figure, although it slowed down sharply due to the impact of the Covid-19 pandemic during 2020, had been growing steadily since 2017; the figure is expected to continue to grow in the coming years as the production rate gradually returns to its pre-pandemic pace.