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Ferretti Group Presented In Strength At The Cannes Yachting Festival 2019

26 Yachts Fleet With 6 World Premières And A String Of Positive Results Announced By Ferretti Group.

After the yearly exclusive affair jointly organised by Ferretti Group and Yacht Club de Monaco at Yacht Club de Monaco, Ferretti Group sailed southwest toward Cannes where its 26-strong fleet berthed to showcase their magnificence and splendour at the Cannes Yachting Festival 2019. The annual yachting event took place from September 10th to September 15th recently, kicking off the 2019 - 2020 nautical season for the group.

Kicking off the Festival was the annual press conference of Ferretti Group. Presented jointly by Mr. Alberto Galassi, CEO of Ferretti Group together with Mr. Stefano de Vivo, Sales Director of Ferretti Group, they presented the main economic results achieved by the group during the first six months of 2019, which further reaffirmed the positive trend that strengthens the international leadership.

In the first six months of 2019, production value for the group reached 358 million Euros - up 6.5% on the 336 million Euros recorded in the first six months of 2018, and in June 2019, the order backlog reached a value of 653 million Euros, an increase of 19% compared to 2018.

During the press conference, Ferretti Group also took the opportunity to announce the new asset structure of Ferretti S.p.A., where as a confirmation of constant support, Weichai Group - the main shareholder of Ferretti S.p.A., converted a shareholder loan of approximately 212 million Euros through an equivalent capital increase. Concurrently, Piero Ferrari and Adtech Advanced Technologies signed investment agreements to provide for the injection in Ferretti S.p.A. a total of 40 million Euros through share capital increases.

"At Cannes the nautical championship is beginning and we are presenting ourselves at our best, with the exciting beauty of a fleet of 26 boats and the quiet strength of an increasingly solid financial situation. - said Alberto Galassi, Managing Director of Ferretti Group - At Cannes we are lining up our stars, 6 world premiere boats for which we have already received important orders. Ferretti Yachts 720, the 48 Wallytender and the Riva Dolceriva, as well as Riva 90' Argo, Pershing 8X and Custom Line 106, are the spearheads of the Ferretti Group, a healthy and very determined team, to continue in the football metaphor, which this year wants to win them all, starting from the financial challenges. Indeed, as always, the Show - continues Mr. Galassi - is also an opportunity to draw up an initial balance of the brilliant results achieved this year, which confirm that we are on the right track, as has been the case since 2014. Today we are a financially ready to face any challenge".