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
Custom Line concluded 2024 with the launch of two new yachts, bringing the total number of vessels introduced at the Ferretti Group Superyacht Yard in Ancona to 18 over the past year. Among the launches were the Custom Line 50, the brand’s first all-aluminium 50-meter displacement superyacht, and the Custom Line Navetta 38, a 299 GT displacement yacht. The first units of these models were launched in January and November, respectively.Custom Line 50The shipyard completed eleven launches in the Navetta line, six in the planing line, and one in the aluminium superyacht line. A new Custom Line Navetta 30 was launched on December 4, marking the 22nd hull in this displacement line. The yacht, measuring 28.43 metres in length with a beam of 7.3 metres, was developed by the Product Strategy Department and the Ferretti Group Engineering Department, in collaboration with ACPV ARCHITECTS Antonio Citterio Patricia Viel for the interiors and Filippo Salvetti for the exterior styling. Custom Line Atelier provided strategic consulting to adapt the interior design to the owner's stylistic preferences. Custom Line Navetta 38The year concluded with the launch of the 33rd Custom Line Navetta 33 on December 16. The vessel was developed by the Product Strategy Committee and the Ferretti Group Engineering Department, with Custom Line Atelier overseeing the owner's requests. The yacht, measuring 33 metres in length with a beam of 7.52 metres, was designed for charter operations and includes a number of customised features such as pullman beds in the guest cabins, additional storage units, and cocktail bars on the sun deck. The interior incorporates materials such as Irish Green marble in the master bathroom and American walnut flooring. The yacht’s colour scheme reflects the owner's preference for sage green, integrated in various elements throughout the interior.The Ferretti Group, led by Chief Executive Officer Alberto Galassi, is now one of the world’s leaders in the construction and sale of luxury yachts and pleasure vessels, with a unique portfolio of brands: Ferretti Yachts, Riva, Pershing, Itama, Mochi Craft, CRN, Custom Line and Wally.Credits: Ferretti Group
January 30, 2025
Ocean Independence recorded a 22% increase in retail charter income in 2024 compared to the previous year, with several yachts in its Central Agency Fleet surpassing typical seasonal booking targets. The most frequently booked yacht was Onyx, securing over ten weeks of charter, followed closely by E-Motion and Isotta.OnyxChief Commercial Officer Toby Maclaurin stated, “We are very pleased with the 2024 charter result. It was a key pillar to the company’s overall performance and we expect a similar, if not better, result in 2025. Chartering large yachts is in vogue and we are well prepared to meet the needs of a wide variety of customers with our portfolio. Of course, we can also reserve any other available charter yacht for our customers.”The list of top-performing charter yachts in 2024 was led by Onyx, a 25.48-meter Ferretti-built yacht from 2007. The vessel accommodates up to ten guests in four staterooms and offers a spacious aft deck, alfresco dining areas, and a hot tub. Charter rates start from EUR 40,000 per week.E-MotionE-Motion, a 40-metre Sunseeker, was also among the most-booked yachts. It offers accommodation for ten guests across five staterooms, including a full-beam master suite and convertible twin staterooms. Charter rates begin at EUR 170,000 per week.IsottaIsotta, a Ferretti 1000 motor yacht, was another high-performing vessel. It features an innovative aft beach area and a spacious flybridge. The yacht accommodates up to ten guests in five staterooms, with rates starting from EUR 114,000 per week.VertigeVertige, a 50-meter yacht built by Tankoa in 2017, also saw strong bookings. The aluminium-built vessel features minimalist deck spaces and a contemporary interior by Francesco Paszkowski, accommodating 12 guests in six staterooms. Charter rates start at EUR 270,000 per week.HuboHubo, an Azimut 85 delivered in 2015, remains a popular choice among charterers. The yacht accommodates eight guests in four staterooms, including a full-beam master suite. Rates start from EUR 40,000 per week.With demand for large yacht charters increasing, Ocean Independence is advising early bookings for the 2025 season. Helene Delstanche, Group Charter Fleet Manager, commented, “To secure your dream yacht, I suggest calling us rather sooner than later. 2025 bookings are already strong, and demand will only get higher as we get closer to springtime.”Credits: Ocean Independence
January 30, 2025
Sialia Yachts will showcase its fully electric 57-foot model, the Sialia 57 Deep Silence, at the Miami International Boat Show from February 12-16, 2025. The yacht will be presented in collaboration with Yacht Sales International, Sialia Yachts’ official dealer in North America, and will be located at One Herald Plaza, Dock B (3rd intersection).The Sialia 57 Deep Silence is equipped with a proprietary drivetrain featuring a 256 kWh battery, which can be upgraded to 1 MWh, and twin 400 kW electric motors. The yacht has a cruising speed of 16 knots and can exceed 25 knots at full speed. Its carbon fiber hull, optimized by Vripack, measures 16 feet in beam and is designed for stability and efficiency.The model accommodates up to 12 passengers and includes a climate-controlled cockpit, multiple lounge areas, a beach club with folding sides, and a garage for an 11-foot tender. It is also fitted with fast-charging capabilities to reduce downtime. A biofuel-compatible range extender is available to increase operational flexibility.Sialia Yachts emphasizes lifecycle considerations in its construction process, using carbon hulls that are more recyclable and durable than traditional GRP. The electric propulsion system is designed to require minimal maintenance, with electric motors needing only a grease change every 10 years. The batteries are rated for 30,000 cycles and come with a five-year guarantee, along with the rest of the propulsion system. The yacht’s technology is designed to be upgradable, allowing for extended operational longevity and reduced depreciation.Established in 2017, Sialia Yachts, owned by Silent Straits, is a company focused on sustainability and ocean-friendly innovation aiming to set new standards in yachting, with designs that inspire both enthusiasts and experts. The company offers the following models: 45, 59, and 80 Explorer. Sialia Yachts is based in Warsaw, Poland, with a team that includes members in the Netherlands and Italy.Credits: Blueiprod/Sialia Yachts
January 30, 2025
Arcon Yachts has confirmed the sale of two new-build Benetti Oasis 40M models, with both units scheduled for delivery in 2027. The 40.8-meter yachts will be constructed at Benetti’s facility in Livorno, Italy.The Oasis 40M series is one of Benetti’s most established lines, recognized for its Oasis Deck, which features a 90-square-meter open space with a flat platform, two unfolding gunwales that create overwater balconies, an infinity pool, and multiple seating areas. The design is intended to maximize outdoor living and provide an extended connection to the water.Accommodation is arranged across five cabins, including a main deck master suite. According to the broker, the interiors will emphasize contemporary design, though further details have yet to be disclosed. Exterior styling for the series is by British studio RWD, while the interiors are developed by Bonetti / Kozerski architecture.Powered by twin MAN engines, the standard performance specifications of the Oasis 40M include a maximum speed of 18 knots and a cruising speed of 12 knots. The yacht has a beam of 8.5 meters and a draft of 2.1 meters.Founded in 1873, Benetti is the oldest Italian shipyard specializing in luxury yachts. Benetti designs, builds and sells composite vessels from 29 to 44m and steel and aluminum boats from 37 to over 100m. The fleet consists of five categories: Class, Oasis, B.Yond, B.Now and Custom to meet all the needs of the market. Benetti belongs to the Azimut|Benetti Group, the largest privately owned luxury yachting group in the world.Credits: Benetti
January 29, 2025
Italian yacht builder Pardo Yachts is charting a course for significant expansion into the Middle East, announcing an exclusive dealership agreement with Dubai-based Ocean 360 and a highly anticipated debut at the Dubai International Boat Show 2025. This strategic move underscores the brand's commitment to establishing a strong presence within one of the world's most discerning yachting markets.Pardo 43The partnership with Ocean 360, a leading provider of premium yacht services, will see Pardo Yachts showcase its renowned craftsmanship and innovative designs to the UAE and wider Gulf region. The Dubai International Boat Show, running from February 19th-23rd, 2025, will serve as the ideal platform to unveil the brand's flagship models, the Pardo 38 and Pardo 43.Pardo 38"The Middle East represents a strategically important market for Pardo Yachts' global growth," commented Marcello Veronesi, CEO of Cantiere del Pardo. "Partnering with the established and respected Ocean 360 provides us with the ideal platform to connect with discerning clients who appreciate the unparalleled quality and style synonymous with our yachts."Sebastian Dumitrescu, CEO of Ocean 360, added: "We are privileged to represent Pardo Yachts as their exclusive dealer in the UAE. Their commitment to innovative design and exceptional craftsmanship aligns seamlessly with our dedication to providing world-class yachting experiences. We are thrilled to introduce these stunning yachts to clients throughout the region."Marcello Veronesi, Sebastian Dumitrescu, Bogdan Borascu and Rok Babarovic (photo by Luca D'Ambrosio)Visitors to the Dubai International Boat Show can experience the epitome of Italian yachting excellence firsthand. The Pardo 38 and Pardo 43, both representing the pinnacle of Pardo's walkaround range, will be on display, showcasing the brand's intelligent use of space and unwavering commitment to bespoke luxury. These models epitomize the perfect harmony of aesthetic appeal and superior functionality, offering unparalleled comfort and performance.Cantiere del Pardo was founded in 1973 in Italy. Pardo Yachts, the brand of Cantiere del Pardo dedicated to powerboats, was born in 2016. The first model, the Pardo 43, was launched in 2017. Grand Soleil was founded in 1973 and is famous for its yachts, which ensure performance for regattas, autonomous long-distance navigation, as well as a high level of sustainable consciousness.Credits: Cantiere del Pardo
January 29, 2025