PMI-NIC, Milano, 26 Gen 2018 Michelangelo Casadei ......Custom Line, established in 1996, builds...
Transcript of PMI-NIC, Milano, 26 Gen 2018 Michelangelo Casadei ......Custom Line, established in 1996, builds...
Il programma di Sviluppo Prodotto multi-brand
fattore di rilancio di Ferretti Group 2015-2017
PMI-NIC, Milano, 26 Gen 2018
Michelangelo Casadei, Engineering Director
The Ferretti Group Overview
Ferretti Group represents the Italian excellence in the worldwide nautical sector and through its brands, both the actual ones and those owned in the past, built more than 10 thousand boats in more than 170 years of history. Chairman: Tan Xuguang Chief Executive Officer: Alberto Galassi Executive President: Xu Xinyu Facts & Figures: The Group, with over than 1500 employees is leader in the design, construction and sale of luxury motor yachts from 9 metres to 90 metres of length. Range of boats: flybridge, open, lobster boat, maxi and mega-yacht, with a unique portfolio of the most exclusive brands in the world: Riva, Ferretti Yachts, Pershing, Itama, Mochi Craft, Custom Line and CRN. Shareholders:
Weichai, the Ferretti Group’s majority shareholder (86,8% of the Company), is one of the most competitive Chinese manufacturing groups in the world in the production of heavy-duty vehicles, engines and their components, as well as machinery and industrial products, with a turnover in 2014 of almost $20 billion. It is listed on the Hong Kong and Shenzhen Stock Exchanges and works on the Chinese and international markets. Weichai is also one of the main Chinese investors in Europe, investing over €2 billion in the last 3 years.
F Investments Sa., holding controlled by the Ferrari family, chose to become a shareholder of Ferretti International Holding S.p.A. together with Weichai Group by acquiring the 13.2% of the Company. Mr. Piero Ferrari has been invited by Weichai Group to join the Board of Directors of Ferretti Group and will also continue to preside over the Product Development Committee.
A brief history
In May 2014,
Mr Alberto Galassi
was appointed CEO
of the Group
2014 2013 2012 2008 2004 2000
2001 1993 ‘90 ‘80 1971 1968
The Origins
Production of the
first motorsailer
boat
Beginning of
participation at Offshore
competitions
Start of strategic
expansion plan for
external lines
(Custom Line, Pershing,
Bertram, CRN)
Creation of Ferretti of
America Inc.
Further expansion
(Riva, Apreamare,
Mochi Craft)
Acquisition of Itama
brand
Ferretti’s 40th
anniversary
Acquisition of
Ferretti Group by
Weichai Group
Creation of Ferretti
Group Asia Pacific
Ltd.
2015
2017
The High-Growth
Era
Manufacturing Footprint: The Shipyards Forlì: Headquarters Ferretti Yachts from 45 ft to 70 ft
Itama 45, 62 and Mochi Craft Sarnico: Riva from 27 ft to 63 ft
La Spezia: Riva from 63 ft to 110 ft Custom Line planing series
Cattolica: Ferretti Yachts from 78 ft to 96 ft
Mondolfo: Pershing range and Itama 75
Ancona Super Yacht Yard: Custom Line Navetta series CRN (Alu&Steel) including Riva Superyacht Division from 50mt to 100mt, Pershing 140
Quality Certification
The Brands
The Ferretti Group controls a portfolio of some of the most prestigious brands
in the nautical world
Ferretti Yachts, the Group’s historical brand established in 1968 by the Ferretti brothers. Builds flybridge planing yachts in GRP measuring 45 to 96 feet (14-29 metres) in length overall.
The pioneer of intelligent engineering and discreet, harmonious design for the ultimate Made-in-Italy cruising experience
Ferretti Yachts 780 (2017) Ferretti Yachts 920 (2017)
Superior engineering and design for the ultimate sports M/Y experience offering unrivaled mix of comfort and performance
Pershing, founded by Tilli Antonelli in 1981 joined the Ferretti Group in 1998, and is one of the leading brand in the world for the production of open fibreglass yachts, with top performance (over 40 knots), measuring between 50 and 140 feet.
Pershing 9X (2017)
The art of timeless beauty, Italian craftsmanship and unrivaled heritage in a pleasure craft.
Riva was founded in 1842 and has been part of the Ferretti Group since 2000. It is one of the best-known producer of luxury fiberglass yachts in the world measuring 27 to 122 feet (9-37 metres) in flybridge, open and coupé lines. Riva has announced in 2014 its new full custom line in steel, the Riva Superyachts Division, which will develop a range of crafts from 50 to 100 meters in length. The first Riva 50m is under construction at the Group’s Super Yacht Yard, in Ancona.
Riva 100’ Corsaro (2016) Riva 56’ Rivale (2017)
Riva 38’ Rivamare (2016)
Custom Line, established in 1996, builds semi-custom flybridge planing yachts in fibreglass measuring 28 to 42 meters in length overall. Custom Line features two distinct product lines - the Planing series (108’ and 120’) and the Navetta series (28, the new 33, 37 and 42 m), built in two different shipyards, the Ancona Super Yacht Yard and the Group’s La Spezia plant.
The pioneer of intelligent engineering combined with a refined design for the ultimate tailor-made Made-in-Italy cruising
experience with a personal touch
Custom Line Navetta 33 (2017)
Custom Line 120’ (2017)
Mochi Craft, has been part of the Ferretti Group since 2001, and has been designing and building luxury fiberglass loabster boat «Dolphin line» with the typical American shape with a contemporary design and layout, measuring 13 to 23 metres.
Resilient and sophisticated vessels to savor the genuine
essence of boating.
Itama (founded 1969), historical brand in the Italian shipbuilding industry, is one of the most famous in the sector of open fiberglass yachts, with the single, outdoor driving position and classical hull, varying from 45 to 75 feet and a speed of 34 to 50 knots.
The most seductive and sporty “open” to enjoy the sea, pure and simple
CRN, established in 1963 under the name of “Costruzioni e Riparazioni Navali S.r.l.” joined the Ferretti Group in 1999, and builds fully-custom steel and aluminium displacement mega-yachts measuring 40 to 100 metres.
The only Made in Italy, fully custom builder with the know-how to create made-to-measure steel/aluminium mega yachts
M/Y CRN 74m - CLOUD 9 (2017)
Ferretti Security and Defence (FSD) is a new business division marking Ferretti Group’s latest venture into the design, production, sale and servicing of naval platforms whose exact specifications and mission profiles are ideal for meeting the need to guarantee the security, patrol and defence of international or territorial waters and coastlines. This new Ferretti Group division was founded in February 2016. Thanks to Ferretti Group’s superior engineering know-how, the FSD division can offer a wide range of professional crafts with planing or displacement hulls in composite materials, steel or aluminium, unrivalled high-quality technological know-how for institutional customers involved in Search and Rescue missions or Patrol and Surveillance operations.
FSD 195 is a state-of-the-art 20-metre “Fast patrol vessel” that can reach
speed in excess of 50 knots, with a range over 400 miles.
The Ferretti Security and Defence division
The Ferretti Group is present throughout the world with a 6 manufacturing shipyards (Forli, Mondolfo, La Spezia, Sarnico, Cattolica, Ancona) and two different regional offices: Ferretti Group America (in Miami) and Ferretti Group Asia Pacific (in Shanghai and Hong Kong). Moreover, the Ferretti Group can count on an exclusive network of around 60 carefully selected dealers, who market Group yachts in over 80 countries, and ensure clients receive the highest levels of assistance in marinas all over the world.
World Wide presence
334 410
548 606
Act 14 Act 15 Act 16 Prelim 17 Bdg 18
Ferretti Group 2015-2017 Results
Constant growth path confirmed setting a new record in 2017, after 2016 results had registered a consolidated production value equal to 548 million euros, demonstrating 36% growth compared to 410 million euros in 2015. The EBITDA, managed to surpass the important threshold of 50 million euros at the end of 2016, reaching 53 million euros compared to 7 million of the previous year and is expected better in 2017. 2016 is the first year of net profit since 2008. Profit After Taxes (PAT) passed from -29 million euros in 2015 to +14 million euros in 2016, with further increase in 2017 In 2018 the Group’s goal is to continue with sales and efficiency growth and at the same time consolidate its leadership position in the sector after the last two years’ exponential growth.
Value of Production (€M)
+36%
+26%
-46
-29
14
-22
7
53
Pat (€M) Ebitda (€M) 6x
2x
6xx
The 2015-2017 results: key factors
• Cost reduction and overall efficiency improvement
• New productive model (double shift and lean approach)
New Product Development & Innovation as a key factor for the growth path
• Image and credibility re-build
Product development investment rised heavily from 2013 to 2016, to be consolidated in 2017, and leading to the launch of 21 new models in the 3 years
Turnover coverage obtained by the new models shows the need and the effectiveness of the strategy.
In 2018, additional 7 new models will be introduced: approximately 80% of 2018 expected sales are related to models introduced in the previous 4 years
PD KPIs show engineering & product development TIME compression + OUTPUT increase
100% 100% 93%
57%
33%19%
7%
36%
16%
12%
7%
42%
26%
10%
34%
9%
Act 13 Act 14 Act 15 Act 16 Fcst 17 Bdg 18
ante 2015
phase in 2015
phase in 2016
phase in 2017
phase in 2018
6
9
15
24 2324
Act 13 Act 14 Act 15 Act 16 Fcst 17 Bdg 18 Values in €M
6 3
8 7 7
New Product Development: New Models 2016
Ferretti Yachts 450 Pershing 5X 38 ’ Rivamare Navetta 37
Ferretti Yachts 850 76’ Bahamas Pershing 82 VHP
New Product Development: New Models 2017
Ferretti Yachts 780 Pershing 9X 56’ Rivale Navetta 33
Ferretti Yachts 920 100’ Corsaro 120’
110’ Dolcevita (2017-2018) 110’ Dolcevita (2017-2018)
New Product Development: New Models…
Change Management
• Communication
• Accountability
• Team
• Motivation
• Complexity
Organization
• Competence areas
• New resources
• Extended Engineering and Design focus
New Product Development: Improvement Map
How!?
PDP & Planning
• Strategy governance
• Milestones respect
• Resource planning
• Engineering Outsourcing to selected partners
• Visual planning
Tools/Strumenti
• Testing tools
• 3D and Parametric CAD
• PLM project
• VR
• NVH
4.083 5.061 5.703 4.312 5.458 4.790 4.790 3.127 5.617 5.885 5.617 3.712
2.138
2.497
3.128
2.017
2.598
2.729 2.681
1.699
1.130
1.4741.401
864
435
299
629
735
533 1.380 1.639
1.417
1.254675
713
1.610
6.657
7.856
9.459
7.063
8.5898.899
9.110
6.243
8.0018.034
7.731
6.186
Jan17 Feb17 Mar17 April17 Maj17 Jun17 Jul17 Aug17 Sep17 Oct17 Nov17 Dec17
H Available Product Development Ore Ext To be outsourced Fct Rolling
4.518,50 5.359,50 6.331,50 5.046,67 5.990,85 6.169,85 6.429,05 4.544,10 6.870,85 6.559,85 6.329,85 5.321,60
2138
2497
3128
2017
2598 2729 2681
1699
1130 1474 1401
864
Jan17 Feb17 Mar17 April17 Maj17 Jun17 Jul17 Aug17 Sep17 Oct17 Nov17 Dec17
Ore Int Ore Ext H Available Product Development Fct Rolling BDG
People saturation
Innovation
• Anticipate needs
• Solutions
• Partners
• Materials & Technologies
• New Tools
HULL DESIGN
COMPOSITES DESIGN
PROPULSION, SYSTEMS & NVH
New Product Development: Technical Areas 1/2
KINEMATICS & DECK EQUIPMENT
ELECTRICAL SYSTEMS & ELECTRONICS
INTERIOR DESIGN
New Product Development: Technical Areas 2/2
Ferretti Group Product Development Process
Concept & Preliminary Design
Detailed Design, Engineering and
Prototyping
Testing,
Development, and
Optimization
Ferretti Group Product Development Process (phases only)
New Product Development: Visual planning
17 running Projects !! Time NOW
25
Thank You
Grazie
谢谢