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HomeYachtsYachts NewsDeloitte: in 2020 all luxury suffered, except boating

Deloitte: in 2020 all luxury suffered, except boating

In the luxury sector, global mergers and acquisitions have increased despite the coronavirus: 277 transactions took place in 2020, an increase of 6 compared to 2019. The deals in the nautical sector decreased slightly from 4 to 3. Deloitte’s Global Fashion & Luxury Private Equity and Investors Survey 2021 , presented yesterday at a press conference.

In the fashion and luxury sectors we have seen an average decline in revenues of 20% , with peaks of up to 70% in the case of cruises and 45% in the hotel sector. The only sector that not only held up, but actually grew, was the nautical one: + 2% . The reason? “The boat is more in sync with coronavirus-induced changes in demand,” explained Tommaso Nastasi , partner and value creation service leader at Deloitte.Fashion and luxury deal in 2020Fashion and luxury deal in 2020

In his study, Deloitte writes: “The boating industry was hit during the first half of 2020 but showed a recovery during the summer season. Most companies were able to recover order cancellations, closing FY2020 at the 2019 level, with some yards even increasing deliveries over the previous year. “Covid-19 impact on luxury marketsCovid-19 impact on luxury markets

A picture of the sector confirmed Alberto Galassi , CEO of Ferretti Group , who spoke at the round table following the presentation of the research. “We sell private islands: our boats guarantee security, privacy and freedom, and lockdowns do not affect them. We have seen it with the summer season ”. Galassi also took stock more generally on the effects of the coronavirus on Ferretti Group. “The impact of Covid-19 on the industry was disruptive in the beginning, due to the absolute uncertainty about the production and future deliveries of yachts. But then he imposed important investments on us: in fact, we allocated 2.5 million euros to protect our employees ”.

Ferretti Group was the first to restart with production thanks to a trade union agreement signed on April 19, 2020. “This allowed us to deliver all the boats planned for the season, so our results in 2020 have suffered a limited decline, equal to only the 5% ”, specified the CEO of Ferretti Group. Thanks also to greater savings: we have cut all non-essential boat trips and boat shows. This lesson will not abandon us: we will operate differently in the future ”.Alberto GalassiAlberto Galassi, CEO of the Ferretti Group

We recall that Ferretti closed the first quarter of 2021 with: revenues increased by 40%, going from 133 million euros to 186 million euros; an ebitda of 18 million euros – compared to 5.5 million euros in the same period of the previous year; a collection of new orders over 300 million euros. In the first quarter of 2021 there was also the sale of the 48th full custom sailing superyacht Wally, the first unit sold since the brand was part of the Ferretti Group.

It is a boat of over 30 meters with a sail area of ​​630 square meters and made entirely of carbon fiber. Wally 101 represents excellence in terms of naval architecture, performance and comfort and is proposed as a new icon of sailing yachting, confirming the significant contribution of the company to the progress of design and technological innovation in the sailing field. Galassi yesterday said he was optimistic about the future: “We expect that we will close this year with better results than all the previous ones”.Superyacht

According to Deloitte, boating , after the 13% Compound Annual Growth Rate (CAGR) increase in 2015-2019, is expected to grow by 8% between 2020 and 2025 . The recovery of the sector will be favored by the desire of customers to enjoy intimate and safe stays, which will also be valid in the new post-Covid normality, and will be driven above all by purchases. The nautical companies already show a substantial order book and are investing heavily in new technologies and in the development of boats.

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