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Ferretti's Profit Drops 12% in Q1

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Ferretti S.p.A (HKG:9638) recorded a net profit of 21 million euros in the first quarter of 2026, down 12% from 23.9 million euros a year prior, according to a Tuesday Hong Kong bourse filing.

The Italian yacht maker's net revenue of new yachts declined 8% to 302.1 million euros from 328.5 million euros previously due to a delay in order intake from the Middle East.

Order intake fell to 179.6 million euros in the quarter from 270.6 million euros in the year-ago period amid uncertainty due to the Middle East war, while order backlog slipped 2.9% year over year to 1.72 billion euros as of March 31.

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