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 second hull of the Wallyrocket51 racing yacht sustained damage after being knocked from its cradle during strong winds at Cantiere Rossini in Pesaro on the evening of 20 August.Images of the incident, showing the boat on its side with a broken mast, circulated online and led to speculation regarding their authenticity. Commentators questioned the extent of the damage and the setup of the cradle, with some suggesting a storm had caused the accident.Alfonso Postorino, director of Cantiere Rossini, confirmed the cause. “First of all we are glad that nobody was injured,” he said. “The boat fell down when hit by a strong wind, with gusts above 50 knots, that caused several serious damages all around the city of Pesaro.”Postorino explained that the yacht was resting on a cradle supplied by the owner and noted that high-performance sailing boats are particularly vulnerable when ashore. “These kind of high performance sailing boats are subject to this type of accident when they are ashore, due to their light weight compared to the windage surface,” he said, adding that no other yachts in the yard were damaged and the facility’s painting sheds were unaffected.Cantiere Rossini specialises in yacht refit services, including repainting, and has capacity for up to ten 50-metre yachts on hardstanding and 12 berths for yachts up to 55 metres.The Wallyrocket51 is the first pure racing yacht developed by Wally, launched in October 2024. With a length of 15.5 metres and displacement of 6.3 tonnes, it was designed with Botin Partners for competitive racing under IRC and ORC rules. The model incorporates features such as a trim tab to improve upwind lift and reduce drag.Ferretti Group completed its full acquisition of Wally in July 2025. The Wallyrocket51 was promoted as capable of outperforming TP52s and positioned as a potential benchmark in one-design racing.Technical partners for the project include APM (keel), Cariboni (hydraulic systems), Southern Spars (rigs), Future Fibre (standing rigging), Harken (deck hardware) and Gurit (composite materials).Credits: Ocean Racing
August 22, 2025
Northrop & Johnson has announced the listing of the 31.52-meter custom-built sailing yacht Playmobil. Represented by broker Jochen Brill, the yacht is asking €2,975,000.Constructed for an experienced owner, Playmobil is described as combining performance with long-range cruising capability. According to the broker, she is designed for easy handling with a minimal crew and is suitable for private use. A condition survey carried out in July 2025 confirmed her operational condition, including upgraded systems and sails fitted in 2024.The yacht accommodates up to eight guests in four ensuite staterooms, including a full-beam owner’s suite, a VIP cabin and two guest cabins. Crew quarters consist of two separate cabins. The interior is arranged around an open-plan saloon and galley, with large windows providing natural light.On deck, the yacht features an aft lounge area and a shaded forward seating space. Her teak decks, rigging, sails and navigation systems have been upgraded or serviced within the past year. Equipment includes a Williams tender, two Yamaha SuperJet jet skis and an updated Raymarine touchscreen helm station.Playmobil is powered by twin Mercedes 311hp engines and supported by two Fischer Panda 25kW generators, a Newport watermaker and a hydraulic bow thruster. These systems were tested and verified during sea trials earlier in 2025.Credits: Northrop & Johnson
August 22, 2025
Antonini Navi has confirmed its participation in the Cannes Yachting Festival 2025, which will take place from 9 to 14 September. The La Spezia-based shipyard will be present at Vieux Port – Jetée Nord, Booth 163, where it will showcase updates on several ongoing projects.Visitors will be able to view photographs and videos detailing the progress of the Seamore 34 and Evo 31 yachts, both of which are under construction. The Seamore 34, sold to an experienced owner, is scheduled for delivery in the first quarter of 2026 and will be exhibited at the following year’s Cannes Yachting Festival.At the redesigned Antonini Navi stand, which now includes an outdoor area, scale models of current and future projects will be displayed. These include the Seamore 34, Lounge 43, Explorer 43, XPD 88 and the SUY 110. The latter, designed by Fulvio De Simoni, has been described as a modern interpretation of the Sport Utility Yacht, combining a sporty profile with explorer capabilities.Antonini Navi will also present details of its activities in the wider industry, including its role in the Blue Design Summit, a regional event connecting yachtbuilding, engineering and design sectors, and its past collaborations with Mercedes-Benz. Throughout the show, the Antonini Navi team will be available to provide information to clients, dealers and industry professionals.The shipyard was established in 2020 as a partnership between Gruppo Antonini SpA, an industrial company active in La Spezia since 1943, and industry veteran Aldo Manna. Antonini Navi is based in the Gulf of La Spezia, within the “Blue Mile” district that is home to several major yachtbuilders. Its facilities cover more than 33,000 square metres, with 4,200 square metres of covered space in two sheds, and four construction slots dedicated to yachts of up to 70 metres. The shipyard employs more than 200 people, including an in-house technical team with extensive shipbuilding experience, and offers services ranging from yacht construction to refits, after-sales, berthing and third-party production.Credits: Sculati & Partners SRL
August 22, 2025
Finland’s boating sector is showing signs of recovery after the decline that followed the pandemic, with registrations and used boat sales both increasing over the past year. As of July 2025, the national watercraft register listed 246,000 boats, an increase of 2,928 compared with the previous year. Of these, 214,000 were motorboats.According to the Finnish Marine Industries Federation (Finnboat), growth has been driven largely by the sale of previously unsold stock vessels, which do not appear in first registration statistics. “According to first registrations, the boating sector would appear to be at its lowest point this year. However, the sale of unsold stock boats has significantly boosted the total fleet size. These boats are not visible in the first registration statistics,” said Finnboat CEO Jarkko Pajusalo.Outboard-powered boats have led the growth, rising by more than 2,200 units. While first registrations of motorboats fell by 17 per cent, the total number of motorboats in the register rose by the same proportion. Pajusalo attributed this to the statistical definition of “new” boats as those built in the current or two previous years. He noted that the anomaly created by pandemic-era unsold boats is expected to resolve itself.The Helsinki In-Water Boat Show Uiva Flytande, held in Lauttasaari, Helsinki, drew nearly 11,000 visitors. Exhibitors reported cautious optimism among buyers, with strong interest in larger cruising yachts. Nine such yachts were on display, from builders including Lagoon, Hanse, Dehler, X-Yachts and Beneteau.Samuli Leisti of Ajola Yachts and Hansail said that 2025 is shaping up to be the strongest year in 15 years for his company, with several deals in progress and one new order signed. His brokerage firm Blue Ocean sold 80 used boats by August, exceeding last year’s total of 67. Antti Saarisalo, CEO of Ajola Yachts, also noted strong interest in sailing yachts, with onboard visits matching those of the larger Helsinki International Boat Show held in February.Manufacturers reported positive developments as well. Linex-Boat, builder of Nord Star yachts, highlighted international interest, with visitors from Estonia viewing the Nord Star 42+. Quarken Boats reported new export market openings and strong domestic activity, securing deals, arranging sea trials and issuing numerous offers during the event.Buster remained the leading brand in new motorboat registrations. According to Mercury Marine EMEA CEO Jussi Sepponen, the Finnish market is beginning to recover in line with European trends. “The marine industry often emerges from recessions later than other sectors. Now, however, it feels like we might even help pull the economy upward,” he said.The show also featured small-scale exhibitors, including sailmaker EfxSails, which presented sailmaking services and recycled sail products. “Sailmaking is a design profession, and part of the designer’s role is to understand the sailor’s true needs,” said EfxSails’s Matti Luhtala.The next Helsinki In-Water Boat Show Uiva Flytande will take place from 13 to 16 August 2026 in Lauttasaari. The Helsinki International Boat Show – Vene 26 Båt – will run from 6 to 15 February 2026 at Messukeskus, Helsinki Expo and Convention Centre.Credits: Yacht Harbour Archive
August 21, 2025
The 25-meter motor yacht African Wild Dog has been sold in-house at Ocean Independence, with broker Bob Friscia representing both the seller and the buyer.Built in carbon fibre composite and delivered in 2018 by Pershing, part of the Ferretti Group, African Wild Dog is the 18th hull of the Pershing 82 series. She is a Pershing 82 VHP (Very High Performance) model, designed by Fulvio De Simoni with naval architecture by the Ferretti Engineering Department.Accommodation is arranged for up to seven guests across three cabins, including an owner’s suite, a VIP double cabin, and a twin with an additional Pullman berth. Crew quarters allow for three staff. Interior features include a lower-deck media room and an open-plan main saloon with a sit-up bar forward, located just behind the triple helm seats.Exterior deck spaces include a sundeck with a secondary helm station, foredeck lounging and sunbathing areas, and a large aft sunpad. The aft deck connects to a swim platform and a transom garage.Powered by twin 2,638hp MTU engines, the 108GT yacht can reach a top speed of 52 knots and maintains a cruising speed of 40 knots.African Wild Dog was last asking €3,400,000.Credits: Yacht Harbour Archive
August 21, 2025