Wednesday, July 28, 2021
Home Yachts Yachts News Deloitte: 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.

- Advertisment -

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.

LATEST ARTICLES

Teams representing 14 nationalities in the BMW ORC Classes

From the start in 1982 through until the first inclusion of the TP52s in 2005, the Copa del Rey MAPFRE was largely...

The new Azimut 68, Flybridge Collection: a yacht for the world

The newest model in the Flybridge Collection is the Azimut 68: a high-tech yacht with a selection of three different layouts on...

Heesen is delighted to announce the delivery of YN 19550 MY Ela

Heesen is delighted to announce the delivery of YN 19550 MY Ela, formerly known as Project Altea. This magnificent yacht set sail...

Ice Yachts presents the Ice 70, designed by Felci Yacht Design

Elegance in the style choices, harmonious both internally and externally, in which classic and modern style elements are based, thus emphasizing exclusivity and...

Royal Huisman’s launch of the 58.5m / 192ft motoryacht PHI

One of this year's highlights is the launch of the 58.5m / 192ft motoryacht PHI at Royal Huisman's newbuild facility in Vollenhove,...

ISA Super Sportivo 100ft GTO, naval engineering by Studio Arnaboldi

Born into the profession, Marco Arnaboldi inherited the passion for yacht design from his father Angelo, but also his love for speed....

ClubSwan One Designs will compete at the 39 Copa del Rey MAPFRE

ClubSwan is the prestigious marque for those one-design boats built by the prestigious Finnish shipyard Nautor's Swan. ClubSwan first joined the Copa...

The Italian Sea Group: delivery of the new EVO120 motor yacht

Tecnomar, brand by The Italian Sea Group, global operator in the luxury yachting industry, active in the construction and refit of motor...

Zeelander Yachts’ flagship Z72 will debut at Cannes Yachting Festival

Zeelander Yachts is going to Cannes Yachting Festival (September 7-12) with a strong presence as the renowned Dutch shipyard will display two...

Canyon di Caprera project: research activities on cetaceans continue

From the 20th to the 23rd of July, One Ocean Foundation will be in in Sardinia for the positioning of three acoustic...