Europe’s luxury lifestyle is bulletproof, at least for now. According to the World Ultra Wealth Report by Altrata released in September 2025, Europe’s UHNWI population has reached approximately 155,000. While the broader millionaire segment dealt with a shaky economy late 2024, the UHNWIs, those with a net worth exceeding $30m, grew by 3.5%.

A favorable macroeconomic environment also bolstered this growth. Official reports from the European Commission and the European Central Bank indicate "modest but steady growth," with the 2025 GDP projected at 1.4%. FYI, both institutions project growth of 1.2% to 1.4% in 2026.

According to the data, Europeans have saved up enough cash to remain comfortable, altjhough the ultra-rich isn't feeling the pinch at all. Global drama doesn't stop them from dropping bags on luxury wares. Instead, the ultra-high-net-worth crew is still showing up to boat shows and signing checks.

That’s great news for a brand that builds floating palaces: here we are talking about the Ferretti SPA. Based in Forlì, Italy, Ferretti SPA is a multinational shipbuilding company that specializes in the design, construction, and sale of a diverse maritime portfolio. This ranges from high-end composite yachts and made-to-measure vessels to elite, large-scale superyachts, all of which are being lapped up by the elite.

The growth tide

This momentum is backed by a robust financial performance that highlights the company's dominant market position. Ferretti SPA crushed it in 9m 25 with a €770.9m order intake (up 4.6%). The real story was a massive 36% surge in Q3 alone, hitting €303.6m, proving that the appetite for high-end yachts is only getting stronger.

Europe accounted for 49.2% of 9m orders (€379.2m) over 9m 25. In fact, orders in the region skyrocketed by 89% in Q3 alone.

The MEA region saw a 25.5% y/y drop in 9m 25, with orders totaling €176.8m. This may sound like a slump, but it’s because 9m 24 was an anomaly with one-off super yacht contracts. If you strip out those massive 2024 outlier orders, Q3 25 showed an 8% underlying growth in Q3 24. This resilience in key markets has translated directly into the company’s bottom line.

Luxury stays afloat

Ferretti SPA's net revenue from new yachts reached €887.2m for 9m 25, a 2.5% y/y increase. Net profit for the same period was €61m, down 1.9% from the previous year. The Super Yacht segment is in the fast lane, with revenue climbing 33.2% y/y to hit €155.6m over 9m 25. Meanwhile, the Made-to-Measure segment clocked in €362.8m, up 13.9%.

On the flip side, the Composite Yachts segment is stuck in the slow lane, with revenue sliding 16.4% y/y to land at €322.2m for the same 9m stretch.

Full steam ahead

The market seems to be betting big on Ferretti's high-end pivot. Ferretti SPA is sitting at HKD 35.00 with a market cap of about HKD 11.9bn—that’s a 55% jump from where things stood just a year ago.

Over the last 12 months, the stock has witnessed a ride, swinging from a low of HKD 18.30 all the way up to a high of HKD 40.40. Looking ahead, the average target price is HK 37.53, the highest price target could touch HK 45.06, which would mean a massive upside of more than 28%. Analysts are on board, too; it’s a unanimous "Buy", with all four analysts giving it the green signal.

Rough seas

There are plenty of reasons for Ferretti to lose wind from their sails. As one of the oldest Italian luxury yacht producers, the group faces several specific hurdles that could rock the boat in 2026. While the mega-rich are still buying superyachts, the Composite Yachts segment is struggling due to higher interest rates. Ferretti may have to offer discounts or better "deals" to move these smaller boats, which could eat into the company's overall profit.

On the operational side, currency volatility (especially a weak USD) and supply chain hiccups remain constant threats to their margins. Beyond policy, extreme weather and rising sea levels threaten the very coastal infrastructure and "Mediterranean lifestyle" that drive demand.