UniCredit and SACE, together with SIMEST, the CDP Group's Export and Internationalization Pole, have finalized a financing operation to support Ferretti Group in setting up new foreign commissions.
The 35 million credit line, provided by UniCredit and guaranteed by SACE, is designed to support the Emilian-Romagna Group's working capital requirements for the execution of foreign orders for yachts and pleasure boats.
The lawyer Alberto Galassi, CEO of Ferretti Group, declared: «UniCredit and SACE are supporting the growth of the Ferretti Group. The new credit lines will be used for the construction of boats destined for the world market. The Ferretti Group is enjoying an extraordinary commercial success which will allow the Company to close the year with an overall order intake of over 400 million euros, confirming and consolidating the extraordinary result already achieved in 2016 with a double-digit return to profit . The Group is continuing its strong international commercial penetration: the Europe – Middle East – Africa area contributed 53% of new orders, the Americas 28% and the Asia Pacific markets 19%. The growth of the group and of exports requires, for a complex product with medium-long lead times, the support of expert, solid and reliable financial partners. UniCredit and SACE are forming a system together with the Ferretti Group, supporting the growth and success of an Italian industry leader in the global nautical market».
With this operation, UniCredit and SACE confirm their commitment to Italian nautical shipbuilding companies, an area where Made in Italy plays a global role globally. In particular, SACE has supported Ferretti Group on several occasions providing the necessary guarantees to the company for the preparation and execution of foreign orders.
Ferretti Group is a world leader in the design, construction and marketing of motor yachts and pleasure boats. The company makes use of six modern shipyards, all in Italy where it builds boats and pleasure boats from 8 to 90 meters in fibreglass, steel and aluminum under the brands Ferretti Yachts, Pershing, Itama, Riva, Mochi Craft, CRN and Custom Line . In addition to being present in the United States and Asia through its subsidiaries, the Group has a network of around 60 dealers which allows it to operate in over 80 countries around the world.
