September 25，The world’s second largest luxury yacht manufacturer、Italy Ferretti Group Announces，Milan Stock Exchange (Borsa Italiana) has approved the group’s IPO (initial public offering) application，The group is expected to be officially listed on October 16th。

Ferretti hopes to end with 2.€5 to 3.30% of the group’s shares sold at €7 per share。Accordingly，The company’s valuation will reach 7.€2.7 billion to 10.800 million euros。Major shareholder of the group、Shandong Heavy Industry Weichai Group currently holds 87% of Ferretti shares。This IPO，They will reduce some of their shares，188bet app But will retain a controlling stake in Ferretti。

Including luxury yacht manufacturer Wally Yachts acquired in April this year，The Ferretti Group currently owns 8 yacht brands，Respectively: CRN、Pershing、Riva、Custom Line、Ferretti Yachts、Itama、Mochi、Wally Yachts。In order to better complete the order，Meet market demand，The group has made significant investments in production facilities。It is reported，The Ferretti Group currently does not have any debt，The funds obtained this time will be mainly used for business expansion。

For fiscal year 2018, the group’s core financial data are as follows:

• Consolidated turnover increased by 7% year-on-year.5% to 6.6.9 billion euros

• Earnings before interest, taxes, depreciation and amortization (EBITDA) 53 million euros，€59 million in the same period last year

• Net profit increased 29% year-on-year to 31 million euros

In the first half of fiscal year 2019, the group’s core financial data are as follows:

• Sales increased 11% year-on-year to 3.€3.2 billion

• Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 25% year-on-year.7% to €30 million

• Total 188bet app download orders increased 19% year-on-year to 6.€5.3 billion

First 9 months of 2019，The group’s total new orders increased by 18% year-on-year to 4.6.5 billion euros。

The Ferretti Group launched the 48 Wallytender, the first new yacht in partnership with Wally Yacht, at this year’s Cannes Yachting Festival。Currently，They have received orders for 7 yachts of this model。Otherwise，The Group’s defense unit Ferretti Security Division (FSD) also provided 16 coastal patrol boats for the Italian National Carabinieri Arma dei Carabinieri。

CEO of Ferretti Group Albero Galassi Very satisfied with the group’s performance。He said，Continuously upgrade products，Acquisition and development of excellent brands，The group strategy of cyclical defense sector business expansion has achieved initial results。

This is not the first time the Ferretti Group has gone public。2003，At private equity firm Primera with 6.After fully acquiring the Ferretti Group for 9.8 billion euros，Ferretti announces privatization and delisting。2007，Primera announced its withdrawal，The group subsequently changed hands many times。January 2012，Financially distressed Ferretti sells 188bet sports betting app download 75% stake to Shandong Heavy Industry Weichai Group，The overall valuation is only 3.500 million euros，One-fifth of the market capitalization of 1.7 billion euros in 2007。

With the strong support of Shandong Heavy Industry Weichai Group，Ferretti successfully turned a profit in 2016，Profit increases year by year。Sales in fiscal year 2018 (6.€6.9 billion) is close to 2015 (3.twice of 700 million euros。

188bet app Source: Luxe.CO, author: Bai Yujia, original title: "Italian luxury yacht manufacturer Ferretti will be listed in mid-October，Valuation reaches 10.800 million euros》.