2026 Outlook for Major Recreational Yacht Manufacturing Groups.
The pre-owned market will probably dominate in 2026, especially for recent and very recent users.
The Ferretti Group (Italian) publishes its first-quarter 2026 results.
FERRETTI GROUP
Wally, Ferretti Yachts, Pershing, Itama, Riva, CRN, Custom Line
Revenue is down 8% compared with the same quarter of the previous year, and net profit stands at $24.3 million.
Source: David Conway, Trade Only Today, May 20, 2026.
Ferretti Group reported revenue of €302 million ($350 million) in the first quarter of 2026, down 8% from €329 million ($382 million) in the same period a year earlier. Despite the decline, the group’s adjusted EBITDA margin improved by 10 basis points year-over-year to 16.1%, a result management attributed to better profitability of the order backlog and continued cost discipline. Net profit for the quarter totaled €21 million ($24.3 million), compared with €24 million ($28 million) in the first quarter of 2025. The order backlog remained virtually stable at €1.718 billion ($2 billion) as of March 31, slightly higher than on December 31, 2025, reinforcing the company’s confidence in its outlook for the fiscal year.
“During a quarter marked by seasonal cash absorption related to preparations for the European summer season, the first quarter of 2026 also faced delays in order collections, resulting in lower down payments and delivery postponements due to geopolitical tensions in the Middle East, which delayed the collection of final milestone payments,” the company said in a statement. “These factors led to temporary cash absorption in the first quarter of 2026, with improvement expected in the second quarter of 2026, supported by the start of the delivery season.”
Order intake fell 33.6% to €180 million ($210 million), compared with €271 million ($314 million) in the first quarter of 2025. The company said the Americas region recorded an 87% year-over-year decline and the Middle East and Africa (MEA) region a 33.9% decline, as customers postponed the final signing of contracts due to uncertainties related to the conflict in the Middle East. Europe stood out as a bright spot, with order intake increasing 28.2% during the quarter. Composite yachts, the group’s most accessible segment, saw orders rise 7.3%, driven by European buyers ahead of the summer season.
Management highlighted the sharp increase in ongoing negotiations as evidence that underlying demand remains strong. As of May 19, 2026, ongoing negotiations totaled approximately €630 million ($731 million), up 75% from the same period a year earlier.
For fiscal year 2026, the company reaffirmed its guidance, forecasting net revenue between €1.25 billion and €1.265 billion ($1.5 billion) and an adjusted EBITDA margin of 16.2% to 16.6%, compared with 16.5% in 2025.
The company also announced the appointment of a new board of directors and the development of a new strategic plan by management. An investor day is scheduled before year-end to present updated strategic priorities and growth objectives to investors.
Indeed, CEO Alberto Galassi has been replaced by a new CEO.
The Chinese group WEICHAI is now the majority shareholder on the board of directors. They have decided to make major changes within the company. The CEO as well as two board members have been replaced.
Here is the group’s new CEO, Mr. Stassi Anastassov:
We will have to see what these very significant changes will produce.
reference article : Source David Conway, editor-in-chief, has covered news and issues in the recreational fishing industry for more than 20 years. He is the author of *Fishing Key West & the Lower Keys* and also contributes to *Saltwater Sportsman*, a Firecrown publication.
IN CONCLUSION
Things are really stirring, as they say at Ferretti Group. The two board members who resigned were very scathing, describing a very difficult situation over the past few weeks and the efforts by the Chinese group to block the Swiss group KKCG from acquiring shares.
It was the Chinese group that wanted to remove the current CEO. The latest shareholders’ meeting approved the new directives proposed by the Chinese shareholder with 52% of the vote.
The Chinese group WEICHAI owns approximately 39.5% of the capital, while the KKCG group owns about 23%.
However, as of May 28, it was announced that an investigation is underway at the request of the office of the Italian Prime Minister. Italy is investigating whether investors from the Weichai group violated Italy’s golden power rules regarding the protection of strategic assets (according to the REUTERS agency). Ferretti Group has recently begun producing military vessels, which requires the disclosure of certain shareholder-related information.
In short, the outcome of this entire affair is still to come.
The new CEO of Ferretti Group, Mr. Anastassov, is currently touring the company’s facilities and conducting extensive consultations with employees, managers, and others. Since his appointment, he has issued letters to everyone outlining his vision and intentions.
As mentioned earlier in this document, the Group’s sales in North America have declined sharply—by 87%, which is more than significant—and by nearly 34% in the Middle Eastern market.
It is certain that 2026 will be a very bad year, probably for many major manufacturers in the recreational boating industry.
It would have been interesting to compare these results with those of the AZIMUT-BENETTI group, but since it is a privately held company not listed on the stock exchange, no data is available, and we will have to remain curious.
But it is safe to assume that the decline in sales in North America and the Middle East will also be felt by Azimut-Benetti. After all, aside from Europe, these are the two best markets for these major manufacturers. The year 2025 had been particularly strong for the Middle Eastern market.
Therefore, the beginning of the year appears uncertain for the major builders, facing strong headwinds. However, for the third-largest player, the SANLORENZO group, the situation appears fairly stable and is even showing slight growth.
We will return with the next financial statements from the industry’s major leaders.
As a result, the pre-owned boat market will likely dominate in 2026, especially for recent and very recent vessels.
The brokers at Ita Yachts Canada and its ProprioBateau division are here to support you and help you take full advantage of current market conditions, whether in the Canadian, American, or European markets.
Do not hesitate to contact us.
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