Yacht maker Ferretti cuts full-year guidance pending confirmation of US orders

(Reuters) - Italian luxury yacht maker Ferretti on Wednesday reduced its full-year guidance for adjusted core profit (EBITDA) and revenue pending confirmation of U.S. orders for yachts in its "composite" segment.

"Composite" yachts are the smallest of Ferretti's three business lines, being up to 30 metres (100 feet) in length, with composite hulls made of fibreglass or carbon fibre.

Ferretti now forecasts adjusted EBITDA in a range between 185 million and 190 million euros ($196.45 to $201.76 million) from its previous guidance of 195 million euros to 200 million euros.

The firm also reduced its 2024 forecast for net revenue from new yachts to between 1.16 billion euros and 1.18 billion euros from a previous range of 1.22 to 1.24 billion euros.

In the "mid-term," it said it expects an adjusted EBITDA margin above 18.5% and confirmed its 16% to 16.1% target for 2024, along with 10% CAGR organic growth in net revenue with "further upside from M&A".



Ferretti said nine-month adjusted core profit rose 10.7% year-on-year to 138.2 million euros, while its January to September net revenue from new yacht sales totalled 865.3 million euros.

($1 = 0.9417 euros)

Source: Investing.com

Последние публикации
Siemens shares higher on better-than-expected earnings
14.11.2024 - 10:00
Top Russian official Shoigu visits Zhuhai air show on final trade day
14.11.2024 - 10:00
European stocks mixed; ASML shines ahead of eurozone growth data
14.11.2024 - 10:00
Aviva posts strong Q3 trading update, shares up
14.11.2024 - 10:00
Crypto market cap hits record $3.2 trillion, CoinGecko data shows
14.11.2024 - 10:00
Energy, tech stocks boost European shares at open
14.11.2024 - 10:00
Indonesia stocks lower at close of trade; IDX Composite Index down 0.88%
14.11.2024 - 10:00
Japan's SMFG lifts profit forecasts after Q2 net income rises 27%
14.11.2024 - 10:00
Telecoms group VEON mulls U.S. IPO for Ukraine's Kyivstar
14.11.2024 - 10:00
Foxconn sees robust AI server demand, posts 14% rise in Q3 profit
14.11.2024 - 09:00
Japan stocks lower at close of trade; Nikkei 225 down 0.61%
14.11.2024 - 09:00
ASML sees growth continuing through 2030 on AI demand
14.11.2024 - 09:00
Mizuho lifts annual guidance after bumper Q2 as rate hikes boost margins
14.11.2024 - 09:00
Australia's Woolworths, Coles face class action over dodgy discount claims
14.11.2024 - 09:00
Japan's MUFG lifts profit forecasts after Q2 net income nearly doubles
14.11.2024 - 09:00

© Analytic DC. All Rights Reserved.

new
Анализ рынка Как повлият завтра отчет NFP на курс доллара США?