In the Global Order Book 2024, The Italian Sea Group (TISG) asserts Italy's supremacy in yachts exceeding 50 meters, securing the coveted third position globally. This marks a significant ascent from eighth place in 2023, demonstrating the company's robust growth.
Boat International, the premier magazine in the yachting industry, annually assesses the order portfolios of 177 shipyards globally. TISG, excluding Tecnomar for Lamborghini 63's monthly delivery, claims the third spot globally for superyachts and megayachts, and fifth overall with 24 active projects spanning 1,374 meters.
Giovanni Costantino, Founder & CEO of TISG, expresses pride in this accomplishment, highlighting a year of substantial successes. With a remarkable 12 more projects than the previous year, TISG is strategically positioned, securing third place just 10 meters behind the second.
The Global Order Book underscores TISG's formidable standing, paralleled by robust financial performance. Notably, the company records a 25% revenue surge in the first nine months of the year, achieving an EBITDA Margin of 16.5%. The order book, valued at 1.3 billion Euros, extends until 2027, with a confirmed production schedule including three deliveries in 2023 and five megayachts in 2024.
With a strong business outlook, TISG reaffirms its 2023 Guidance with revenues at 365 million Euros and an EBITDA Margin of 16.5%. Looking ahead to 2024, the strategic vision anticipates revenues between 400-420 million Euros and an EBITDA Margin between 17 and 17.5%. The success extends to NCA Refit, affirming its international prominence in refit activities for both motor and sailing yachts.
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