Ferretti Group: minimal impact of the current geopolitical situation on turnover.
Forlì, March 9, 2022 – Despite the critical geopolitical situation caused by the outbreak of the conflict between Russia and Ukraine, Ferretti Group foresees no significant consequences for business volume.
With an order backlog of 1,272 million of Euro as of 28 February 2022 and an Order Intake of 308 million of Euro in the first two months of 2022, the Group, which is present in over 70 countries, has a geographically diversified commercial strategy and an exposure in terms of revenues of less than 3% to the areas currently involved in the conflict. Ferretti Group has no exposure to the mega and gigayacht segment, the one of greatest interest to the Russian elites most affected by international sanctions. Furthermore, as of today, the Group is not aware of any sales to subjects targeted by these sanctions.
The company is monitoring market developments on an ongoing basis and mitigating any risk through a distribution model involving progress payments during construction and the possibility of reallocating series and semi-custom yachts thanks to waiting lists for almost all the models in the range.