Financial Performance - The company reported a net revenue of €1,240,346 thousand for the year ending December 31, 2024, representing a 9.3% increase compared to €1,134,484 thousand in 2023[12]. - Adjusted EBITDA reached €190.0 million, up approximately 12.3% from €169.2 million for the year ending December 31, 2023[17]. - The net profit for the year was €88,160 thousand, an increase of about 5.6% from €83,503 thousand in the previous year[12]. - The group's total net revenue for the reporting period was €1,240.3 million, a 9.3% increase from €1,134.5 million for the year ending December 31, 2023[27]. - The group's pure profit increased by approximately 5.6% to €88.2 million, up from €83.5 million for the year ending December 31, 2023[27]. - The group's net revenue increased by approximately 9.3% from €1,134.5 million in 2023 to €1,240.3 million in 2024[44]. - The net revenue from composite yachts reached €558.7 million, a year-on-year increase of 13.6%, accounting for approximately 47.6% of the new yacht net revenue[47]. - The net revenue from custom yachts decreased by 7.5% to €407.2 million, representing about 34.7% of the new yacht net revenue[49]. - The net revenue from superyachts increased by 26.4% to €148.6 million, contributing approximately 12.7% to the new yacht net revenue[50]. Order Backlog and New Orders - The company has a backlog of orders amounting to approximately €1.7 billion as of December 31, 2024, which is an increase of about 11.6% compared to the previous year[17]. - New order volume for 2024 reached €1,139.3 million, a growth of 1.7% compared to €1,120.4 million in 2023, primarily due to strong performance in Europe and the Middle East[29]. - Cumulative orders reached a record high of €1,663.9 million as of December 31, 2024, an increase of approximately 11.6% from €1,491.27 million at the end of 2023[34]. - Cumulative order backlog, defined as total undelivered orders minus recognized revenue, reached a historical high of €900.0 million as of December 31, 2024, up 15.4% from €780.0 million on September 30, 2024[37]. - The new order volume for superyachts surged by 97.3% to €294.9 million in 2024, representing 25.9% of total new orders, compared to €149.5 million (13.3%) in 2023[30]. Product Development and Innovation - The company is focusing on R&D to innovate and expand its product offerings in the yacht manufacturing sector[18]. - New models of composite and custom yachts have been launched to attract new customers while retaining existing ones[20]. - The group plans to expand its product offerings and focus on high-growth segments to strengthen its market leadership in composite and custom yachts[25]. - The group plans to expand its custom product offerings to larger alloy yachts and develop new superyacht models under the Riva, Pershing, and Custom Line brands[43]. Sustainability and Governance - The group is committed to investing in innovation and sustainable materials to reduce environmental impact and enhance the yachting experience[25]. - The group has established a commitment to environmental, social, and governance (ESG) practices, becoming the first in the yacht industry to publish a sustainability report in 2019[24]. - The company is committed to ensuring that all strategic decisions are guided by a strict and purposeful framework regarding sustainability matters[136]. - The sustainability committee plays a strategic role in assisting the board in developing and implementing policies related to environmental, social, and governance issues[135]. - The company is required to prepare a sustainability report in accordance with the provisions of the Italian law on corporate sustainability reporting[134]. Financial Position and Assets - Total assets increased to €1,661,444 thousand in 2024 from €1,602,248 thousand in 2023[13]. - Current assets increased to €912.3 million, while current liabilities decreased to €701.7 million, resulting in a slight increase in net current assets to €210.6 million[75]. - The company's equity return rate decreased from 10.3% in 2023 to 10.2% in 2024, primarily due to an increase in average equity[95]. - The debt-to-equity ratio improved to 3.7% as of December 31, 2024, from 4.0% in 2023, indicating a strong financial position with low debt levels[99]. Employee and Operational Changes - As of December 31, 2024, the company had 2,118 employees, an increase from 1,971 employees as of December 31, 2023[117]. - Personnel costs rose by €14.2 million or 10.9% from €130.7 million to €144.9 million, attributed to an increase in average employee numbers to support business growth[65]. Corporate Governance - The board is responsible for leading the company towards sustainable success, aiming to create long-term value for shareholders while considering the interests of other stakeholders[131]. - The company has adopted a business plan for 2023-2027, which is aimed at achieving sustainable success[131]. - The board has approved the rules for the board and individual committees to ensure compliance with corporate governance codes[128]. - The board consists of 7 to 11 members, including a chairman and one or more vice-chairmen, as per the company's articles of association[174]. Shareholder Information - A dividend of €32,832,817.44 (equivalent to €0.097 per share) was paid to shareholders[113]. - The major shareholders include Shandong State-owned Assets Supervision and Administration Commission holding 37.541% and Valea Foundation holding 13.292% of the ordinary shares[147]. - The company has no restrictions on the transfer of shares, and there are no existing agreements among shareholders regarding the company's shares[145][152].
法拉帝(09638) - 2024 - 年度财报