The Board of Directors of The Italian Sea Group S.p.A., approved the selected information relating to the business performance in the third quarter 2021 (Revenues; EBITDA; Backlog; Net Financial Position; Investments). In the first nine months of 2022 TISG has recorded Total Revenues equal to EUR 210.3 million, up 64.6% compared to EUR 127.8 million in the same period of 2021. The Gross Backlog (Order Book) as of September 30th 2022 equals to EUR 983 million, while the Net Backlog amounts to EUR 566 million. 35 yachts are currently under construction, of which 19 mega and giga yachts and 16 Tecnomar for Lamborghini 63.
Nine months after the completion of the Perini Navi acquisition and the integration of the related assets, The Italian Sea Group confirms its strategy for the relaunch of the brand and the production plan previously communicated to the market. The restyling of the Perini Navi fleet continues; the first model, a 56 meter ketch, has been recently unveiled and has been developed in collaboration with Malcolm McKeon Yacht Design. The partnership, in line with the plan of continuity and development of sailing yacht production, reprises some of the most iconic stylistic elements of the Perini Navi fleet, reinterpreting them from a modern perspective, combining Malcolm McKeon’s input with TISG’s production standards.
The Italian Sea Group will continue to invest in the two important serial production projects, which have been recently presented – the Gentlemen’s Picchiotti line and the Admiral Panorama motor-yacht, maintaining its high-end positioning and utilizing exclusively noble materials, such as steel and aluminum. The Group confirms its strategy, stating that the production of the yachts will start only following the signing of sale contracts and without trade-ins.
The Italian Sea Group continues its sustainable development journey, with particular attention towards energy sources. The photovoltaic plant, installed in June in the Marina di Carrara shipyard, has already allowed for a significant production of green energy and has partially contributed to limit the effects of the recent increase in energy costs.
The plant is expected to cover 25% of the energy consumption of the Marina di Carrara production site, when construction works will be completed.
Furthermore, the Company continues to invest on young employees and excellences in the local community. In October 2022 the Company started the project “The Italian Sea Group Young Award”, aimed at rewarding young employees who stood out for passion, dedication, acquired skills, competences, and results achieved. Additionally, after the success of the past edition for the training program hosted by the TISG Academy in collaboration with prestigious Italian universities, new technical update programs for the Group’s young employees have started again in the month of September.
Giovanni Costantino, Founder & CEO of The Italian Sea Group
“The results of the first nine months of 2022 confirm a strong and constant growth, allowing TISG to position itself at the highest end of the Revenue Guidance for 2022, with an EBITDA Margin as of September 30th at 15.7%, well above the target already announced to the market. The solidity of our strategy is also testified by the success of our series production projects that, just a few months after their launch, have generated a strong commercial interest with the sale, in the third quarter 2022, of two Admiral Panorama 50 meter motor yachts. The implementation of these serial projects will allow a further acceleration of our growth path, by enhancing two different growth drivers and thus continuing to focus our internal engineering capacity on deeply innovative custom-made yachts such as the new Perini fleet, that will soon be launched and, we believe, will bring more momentum to our order portfolio. Furthermore, our investment plans progress steadily in all the three shipyards, with a significant focus on environmental sustainability thanks to the completion of the photovoltaic system in the Marina di Carrara shipyard and the successive start of the sheds coverage in the La Spezia and Viareggio production sites,” comments Giovanni Costantino, Founder & CEO of The Italian Sea Group.
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
The Italian Sea Group concluded the first edition of its Vision Brokers Day event with significant success, attracting sixty of the world's most influential yachting brokers from various regions.Held over two days at the company's headquarters in Marina di Carrara, the exclusive event provided participants with a deep dive into The Italian Sea Group's productive reality, showcasing its distinct product range, commercial strategies, and core competencies. The workshop highlighted the pivotal role of the Research & Development office, emphasizing innovation and customization as cornerstones of the organization's vision.Moreover, the event spotlighted The Italian Sea Group's unprecedented industrial challenge, managing simultaneous construction of mega and gigayachts, possibly unprecedented in the history of yachting. To manage this complexity efficiently, the company implemented an innovative Industrial Process & Planning approach, leveraging advanced methodologies and software from high-engineering sectors like automotive. This approach orchestrates the entire production cycle structurally and synchronously, optimizing each phase of construction.Participants had the rare opportunity to tour the shipyard, including departments for 3D design, carpentry, and furnishing, a unique feature in Italy. This integration of design and production reduces errors and optimizes the customization process.Visits to internal business units, such as the Steel Mill and Upholstery Department, highlighted the Group's capability to perform a significant portion of its fabrication internally rather than relying heavily on external suppliers. This model ensures direct quality control and continuous improvement in cost and process management.Combining internal fabrication with exclusive use of 3D design empowers The Italian Sea Group to preserve and enhance its extraordinary know-how."Gianmaria Costantino, Chief Commercial Officer of The Italian Sea Group, expressed satisfaction with the outcome of this first Vision Brokers Day event," stating, "This initiative strengthened our relationships with international brokers, creating new partnership opportunities and reinforcing our global presence. The high attendance and interest shown by participants confirm the value of our vision and capabilities."Through this event, The Italian Sea Group reaffirmed its commitment to continual evolution, refining processes, skills, and solutions to meet the highest industry expectations and solidify its leadership in the international luxury yachting market.Credits: The Italian Sea Group
March 11, 2025
The third 27.4-meter motor yacht from the Arksen 85 explorer series has been listed for sale by Sam Tucker of Moravia Yachting, with delivery expected in 2026. The vessel will be available for purchase 18 months after signing the contract.Building on the success of the first two yachts in the series, Mamaluna (delivered in 2023) and the second Arksen 85 (scheduled for delivery this year), the third hull is being constructed in aluminium to a design by Humphreys Yacht Design, with interiors by Design Unlimited. Production is taking place at the UK-based Wight Shipyard, owned by Ocea.The Arksen 85 accommodates up to eight guests in four cabins or six guests in three cabins, including a full-beam master suite. All cabins are located on the lower deck, with the option for additional berths. The yacht can operate with minimal crew, with quarters available for two or four crew depending on requirements.Functionality and sustainability are central to the Arksen 85's design, reflected in its versatile interiors and carefully selected materials. Worktops in the galley are made from recycled plastics, and upholstery uses waste fashion fibers or recovered ocean plastics. However, the interior design is highly customizable to meet client preferences.On the main deck, the Arksen 85 features an open-plan lounge and galley with direct deck access, a lobby, and a dayhead, with stairs leading to the bridge deck. Here, guests will find a second saloon and a study area. Outside, the yacht offers an al fresco dining setup, an aft deck lounge, and additional bench seating forward of the bridge. The Arksen 85 is highly customizable, with options for accessories such as cranes, stabilization booms, and storage for a large tender and water toys.The yacht's aft deck is reinforced to handle weights of up to 4,000 kg, making it suitable for vehicles or submersibles. Brokers emphasize that each Arksen vessel is designed for global exploration, offering confidence, comfort, independence, and efficiency characteristic of modern long-range cruising yachts. The Arksen 85 can reach top speeds of 14 knots and cruising speeds of 12 knots, with an exploratory range of 7,000 nautical miles.Credit: Arksen
March 11, 2025
Damen Yachting has successfully launched the third vessel in its acclaimed Yacht Support 53 series at its state-of-the-art facility in Antalya. This significant achievement marks a new chapter in the company’s history of delivering high-performance support yachts, combining Dutch engineering excellence with innovative design.The newly launched YS5303 is set for delivery in summer 2025 following its final build stage, outfitting, and sea trials. Joining the series are two previous successful models: Bad Сompany Support 175, designed for deep-sea fishing and scientific missions, and Five Oceans, built for exploration and conservation efforts.Pim Oostra, Project Manager for YS 5303, emphasized the milestone: “Today’s launch signifies the maturation of our Yacht Support design into a full-fledged series. We are excited to progress through the final build stages towards completion this summer.”The Yacht Support range represents the pinnacle of offshore support vessels, renowned for their reliability, sailing characteristics, and unparalleled functionality. With over 20 purpose-built support yachts delivered, Damen Yachting continues to set industry standards.Damen Yachting, a division within the Damen Shipyards Group, was created in 2019. The division combines the pedigree and heritage of Amels yachts with a growing portfolio of SeaXplorer yachts and Yacht Support vessels.Credits: Damen Yachting
March 11, 2025
Ocean Independence introduced the 41.8-meter Vikingfjord, the most environmentally sustainable explorer ship in the polar regions, available for charter. Formerly a Norwegian maritime vessel, VIKINGFJORD has been transformed into a luxurious exploration ship specifically designed for polar expeditions, minimizing its ecological footprint through features such as an ice-strengthened hull and a biodiesel-capable engine.The vessel accommodates up to 12 guests in seven cabins, including five doubles that can be converted to twins and two singles, all thoughtfully appointed with ensuite bathrooms and large windows to maximize natural light and create a spacious, inviting atmosphere. Designed with Scandinavian inspiration, the interiors reflect a sense of openness and tranquility, updated in 2023.A highlight of the Vikingfjord is its dedicated observation lounge, offering panoramic views of the polar landscape and serving as an educational hub for guests. Expert-led presentations provide insights into the unique wildlife and ecosystems of the region, enriching the overall experience. Post-exploration, guests can relax in the hot tub under the midnight sun, surrounded by the breathtaking beauty of the Arctic.Vikingfjord allows guests to actively engage with the Arctic ecosystem, offering prime opportunities to observe wildlife such as whales, orcas, and polar bears. Equipped with two zodiacs, the ship enhances accessibility to remote areas, enabling thrilling explorations guided by experienced expedition leaders. Charter guests can also customize their itineraries according to their interests, discovering the untamed beauty of destinations like Svalbard and Greenland.With its sustainable design and commitment to preserving the pristine polar environment, Vikingfjord invites travelers to embrace a luxurious yet minimal-impact adventure in the Arctic.Credits: Ocean Independence
March 10, 2025
Turkish yard Alia Yachts has announced the sale of a custom-built 65-meter superyacht, currently under construction at its Antalya site. Provisionally designated as hull ALY651, the steel and aluminum project is destined to become the company's flagship upon delivery.The project marks a continuation of Alia Yachts' collaboration with Dutch studio Sinot Yacht Architecture & Design, known for their work on the 45-meter San. For naval architecture, the project relies on Netherlands-based Diana Yacht Design, which promises to incorporate the capacities and amenities typical of an 80-meter yacht, including five cabins – featuring an owner's suite with a private lounge – and a hydraulic swimming pool that can be raised to create a large, open entertainment area on the main deck aft.Additional amenities include a hot tub on the sundeck and another, larger one on the foredeck reserved for the owner's exclusive use.Gökhan Çelik, President of Alia Yachts, expressed enthusiasm about the project, highlighting the shared passion for yachting and the expertise gained over decades. He expects the project to showcase the company's ability to integrate innovative design and modern technology with high-quality materials and finishing.Alia Yachts was founded in 2008 by Gokhan Çelik and Omer Koray. Located in the port of Antalya on the beautiful Turkish Riviera, Alia Yachts shipyard currently occupies approximately 8,000 m2, including three construction halls with their suites of specialist workshops and a dedicated interiors facility. With an additional 16,000 sq. m under development for 2019, Alia Yachts will rank among the top facilities in the region.Credits: Alia Yachts
March 10, 2025