Anyone up for buying a builder rather than a boat, for a change?

MapisM

MapisM

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If so, here's your opportunity.
Me, I'd rather invest in red wine, as someone much wealthier and knowledgeable than myself once suggested.
At least, if it's a good quality one, whenever you'll enjoy it in the future it will probably be better. :rolleyes:
 
LOL, that counts as another potential subscriber not interested, I suppose?
Makes me wonder how many moboers will actually buy shares... :rolleyes: :D
 
For what it’s worth I thought Ferretti had some really good boats at Cannes. The 550 aside which I’m afraid didn’t do anything for us their new styling direction inside on the larger boats was very pleasing.
 
henryf said:
For what it’s worth I thought Ferretti had some really good boats at Cannes.
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Just to avoid any misunderstanding, I agree that their effort to come back to sound boatbuilding, after the mostly finance-driven hangover of the nineties and naughties, is remarkable.
I just struggle to see boatbuilding as an industry worth venturing into the stock exchange, for several reasons, both structural and more, well, let's say more subtle.
But I'd tell the same of any other yard!
 
It is a strange news since Galassi publicly declared that he was against this.

This is very different to the listing of 1999 by the looks of it, as it looks more a cash injection operation by what is written in the press release.
This or that the Chinese want out.
 
MapisM said:
W, you are saying that as if his opinion would matter... :rolleyes: :D
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Exactly. CEO would be heard but its not his decision obvs.
This is mostly a secondary offering (the primary being only €100m), so it's a big exit for Weichai and the minority shareholders. I bet L Catteton (Princess's owners) will be super interested to see where they price it (in a month or so) because of the obvious implications for Princess's own value.
 
MapisM said:
Just to avoid any misunderstanding, I agree that their effort to come back to sound boatbuilding, after the mostly finance-driven hangover of the nineties and naughties, is remarkable.
I just struggle to see boatbuilding as an industry worth venturing into the stock exchange, for several reasons, both structural and more, well, let's say more subtle.
But I'd tell the same of any other yard!
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It was mostly 2005 till about 2010. And Ferretti and Pershing had little problems in this.
It was mostly the other brands; Bertram the most, Riva second, Itama third that where exposed to some faulty construction issues.

I guess construction wise now they are more in line with the others though they are still doing somethings better to others. For Ferretti this means a step backward cause in the eighties and nineties they where a step or two above most production builders. For example back in those days Ferretti used to have Class of Malta Bureau Veritas certified designs.
In the end nineties the only boats coming from the UK which had this standard where the Sunseeker's above eighty feet. Ferretti did this from end eight till early 2000s.

Apparent and a high quality feeling they have always been top drawer.
Even if you sit on a small Pershing 37 twenty years later the feeling of quality of the molds and engine room is way superior to anything you may find in this type and size.
 
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The number 1 take away memory for me from the recent Ferretti preview demo show was one of very high end build n fit n finish AND smooth efforts less refinement when running .

As far as the floatation and Mr majority share holder wanting out I don’t see it as such a problem weighted down by the general boaty history of poor investment.
You could say that about car Co,s , how to loose money etc .
But if you think of VAG , sit in any product Lamborghini, Bentley, Porsche or even a Seat and it’s obviously they are winners and there’s a future quality wise and desirably wise compared to the competition.
I think that’s where Ferretti are now with there line up it felt there’s a spine / central quality control and sharing of the good bits right through the range .
Eg the Itamas are made on the same line as the Pershing .

How much new Panamera is shared with the new Bentley GT or Audi Q8 with the Lambo Uris is a similar group thingy ..
And it’s a good thing imho .

So any prospective buyers individual who ( that’s what this threads about ) uses the MK 1 eyeball at the product(s) will not fail to see the potential and realise after sussing out the competition it’s gonna be a good investment.
 
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Portofino said:
So any prospective buyers individual who ( that’s what this threads about ) uses the MK 1 eyeball at the product(s) will not fail to see the potential and realise after sussing out the competition it’s gonna be a good investment.
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Each to their own but I see it like this, assuming you're not just buying shares for fun. There is no such thing as a good investment or a bad investment; there are just investments where you called the price well or called it badly. Therefore I'd say you can't rationally say whether Ferretti is a good or bad investment until the shares have been priced. The market will find a price for the shares and let's say that's €8/share. The company would then be a good investment at €5 and a bad investment at €10, regardless of quality of its product.
 
jfm said:
Each to their own but I see it like this, assuming you're not just buying shares for fun. There is no such thing as a good investment or a bad investment; there are just investments where you called the price well or called it badly. Therefore I'd say you can't rationally say whether Ferretti is a good or bad investment until the shares have been priced. The market will find a price for the shares and let's say that's €8/share. The company would then be a good investment at €5 and a bad investment at €10, regardless of quality of its product.
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My Mk 1 eyeball told me the Sinclair C 5 and the Delorean DMC were gonna be dead ducks investment wise .
Visually to me they were obvious crap products that weren’t gonna sell , be viable making a return .

The last Hunton I saw at a show was at Cannes a few years ago it was a RS 43 in black on the same jetty as Otam .
The Otams were bigger but in black .
The Otams looked like they were hued out of granite , sure bigger iirc a 58 , but straight as a die not ripples in the sides cast in the evening light .
The poor Huntons black hull ( same light ) was rippled the hell -urgh !
Nobody on it either , but the Otams were buzzing ( no sales preventers either ) .
I thought at the time , I know moulding dark hulls from a every mark ripple is amplified POV , but really showing that is a kiss of death in this show ..........and ..........the following year they were bust .

I saw it coming .
 
You're rather missing my point but no worries. A company making great product is a lousy investment if you buy it at too high a price. A company making low-quality product is a great investment if you buy it at a super low price.
You don't know where the Ferretti IPO will be priced; no punter does; they're still book building.
That's the point I was making; quality of Ferretti product is a different point entirely from investment success. No worries if falling on deaf ears - I'll move on.
That Hunton belongs to a good friend of mine. I'm just back from dinner with him. I know what you mean - the Hunton tools are quite old.
 
jfm said:
. I know what you mean - the Hunton tools are quite old.
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All the old moulds were destroyed in 2016 . Hunton Yachts have not made a single boat since then.

I did see a 43 a few years ago at Saxon Wharf and in some lights you could see the ripples down the sides.
 
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