In 2021 The Italian Sea Group recorded remarkable growth compared to 2020. Since June 8, 2021 the Company has been listed on Euronext Milan from Borsa Italiana.  
The resources collected during the IPO – equal to 44.5 million euros – proved to be key in finalizing the acquisition of Perini Navi, one of the most prestigious brands in the sailing superyacht industry. The acquisition took place on December 22, 2021 through New Sail S.r.l. a subsidiary fully owned by TISG, for a total value of 80 million euros.  
The operation was financed by cash availability and long-term bank credit lines. 



The total value of the Order Book of Shipbuilding and Refit as of December 31, 2021 is equal to 827 million euros, with wide visibility until 2026 of the projects under construction, about 80% of which is presented by yachts in the +50m range. At the end of 2021, the Net Backlog of Shipbuilding and Refit is equal to 536 million euros. 
The revenue breakdown by geographical area shows a higher relevance of the American market.  

In particular, this increase is driven by the stronger brand awareness in the Region, stimulated by the collaboration with renowned US brokers, that allowed the Company to enter the American market for big dimension yachts as confirmed by the sale of an Admiral 82m mega yacht at the end of 2021.  


Giovanni Costantino, Founder & CEO of The Italian Sea Group

“The year 2021 has been particularly important for The Italian Sea Group, with the further strengthening of our business in the mega yacht segment and in strategic markets like the US,” says Giovanni Costantino, Founder & CEO of The Italian Sea Group. “Soon afterwards the Perini Navi acquisition, finalized at the end of January, the production sites of Viareggio and La Spezia are already operational, the majority of employees have been reinstated and we have launched important projects with great commitment and energy, with the goal of further strengthening such a prestigious brand in the global yachting world. The results announced today confirm the success of our business strategy that focuses on the continuous research of excellence, innovation and quality. Based on these results, that allow us to look at the many future opportunities with great optimism and commitment, we confirm the 2022 Guidance.” 

An additional element which is significant to the Company’s strategy is the consolidation in the sailing yacht segment, which is experiencing a strong increase in demand also thanks to the increasing interest from owners towards sustainability and the environment. As a confirmation of this, TISG has undertaken the completion of a 60m sailing yacht for a US client (order originally acquired from the previous Perini Navi property). 

Collaborations with brands of the caliber of Giorgio Armani and Automobili Lamborghini have contributed to further strengthen the Company positioning in the luxury segment and, as a confirmation of what was announced during IPO, TISG intends to finalize another important partnership. 

The Italian Sea Group is a global operator in the luxury yachting industry, listed on Euronext Milan (“EXM”) and active in the construction and refit of motor yachts and sailing yachts up to 140 meters. The Company, led by Italian entrepreneur Giovanni Costantino, operates on the market with the brands Admiral, renown for elegant and prestigious yachts, Tecnomar, Perini Navi, and Picchiotti; the Company has a business unit, NCA Refit, that manages the maintenance and refit services for yachts and mega yachts with a length over 60 meters. 

Credits: The Italian Sea Group

Latest News

Inside 75m Kenshō
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