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
Italian design firm Bassan&Benedetti has introduced Altrove, a 90-meter explorer yacht concept designed for scientific research and luxury expeditions. The vessel combines advanced technology with guest amenities while maintaining operational capabilities in extreme conditions.Altrove features a fully equipped wet and dry laboratory for four scientists or guides, supporting 18-person expeditions. Its 4,990 GT interior includes a 60 sqm owner’s studio spanning two levels, a double saloon with dining for 30 guests, and two observation lounges with 360-degree views.The wellness area comprises a gym, spa, and massage room alongside aquatic facilities including a 35 sqm main deck pool and multiple Jacuzzis - two in the beach club area and a private unit for the owner. Accommodation includes nine cabins with capacity for 22 guests, featuring an owner's suite with a forward terrace equal in size to the 110 sqm beach club. Separate quarters accommodate 30 crew members.The yacht’s helideck is certified for Airbus H135, H130, H125, and Bell 407 helicopters, with an enclosed hangar. When not in use, the space converts into an entertainment area for events, outdoor cinema, or dining. A 110 sqm beach club with fold-down balconies, a transom opening, and a multi-level swim platform provides direct water access.For exploration, Altrove carries Limo and RIB tenders, two submarines, and Jet Skis, stored in a waterside garage. The design emphasizes a reverse bow and angular exterior lines, described by the studio as conveying "resilience and strength." No performance or propulsion details were disclosed.Credits: Bassan&Benedetti
April 21, 2025
Spanish marina operator Ocibar has entered its first international venture by acquiring a 25% stake in Marina d'Arechi, a major Italian marina located in Salerno. The facility, developed and operated by the Gallozzi Group, offers 950 berths for vessels from 10 to 100 meters, along with winter storage and maintenance services.Antonio Zaforteza, CEO of Ocibar, stated: “Marina d’Arechi is one of the great examples of success in marina development in the Mediterranean and still has significant growth potential. Our alliance will further enhance this marina and integrate it into a unique value proposition for its customers and those of the various Ocibar marinas.”Ocibar, which manages marinas in Tarragona, Mallorca, Ibiza, and Valencia, sees the investment as part of its Mediterranean expansion strategy. The Gallozzi Group, active in shipping and port operations since 1952, welcomed the partnership.Agostino Gallozzi, CEO of the Gallozzi Group and Marina d’Arechi, said: “We had contemplated expanding the shareholder base of Marina d’Arechi and are very happy to have Ocibar joining us with a 25 per cent participation, based on shared values and principles of business ethics. Our partnership will propel Marina d’Arechi into a new phase of development.”Planned upgrades include berth expansion, infrastructure improvements, and the construction of a hotel to support Salerno's tourism initiatives.Credits: Marina d'Arechi
April 18, 2025
GB Marine Group, the parent company of Grand Banks and Palm Beach Motor Yachts, has named Lynn Fischer as its new Global Chief Marketing Officer. The appointment follows recent expansions, including a 114,000-square-foot factory upgrade, and aligns with the company’s focus on brand growth and owner services.Fischer, previously Chief Marketing Officer at private aviation firm Vista, brings experience in luxury and premium brand strategy. In her new role, she will oversee marketing, brand development, and customer engagement for GB Marine Group’s yacht brands.Lynn Fischer“GB Marine Group is not only a heritage builder – celebrating nearly 70 years of Grand Banks Yachts and 30 years of Palm Beach Motor Yachts – it's a company at the forefront of next-generation yachting,” said Fischer. “From its ocean racing-inspired manufacturing approach that redefines performance and fuel efficiency, to its use of advanced technology and materials, GB Marine Group is pushing the boundaries of what's possible on the water.”CEO Mark Richards stated, “We are thrilled to welcome Lynn to the GB Marine Group. Her deep expertise in building aspirational brands and delivering personalized client experiences will be instrumental as we bring even more exciting new products to market, expand our global footprint, and evolve our factory-direct strategy.”Fischer’s responsibilities will include brand strategy, digital marketing, global campaigns, and enhancing owner experience programs. The move comes as the company prepares new product launches and expands its factory-direct sales model."GB Marine Group owns and operates three premium yacht brands: Grand Banks, Palm Beach Motor Yachts, and Eastbay YachtsCredits: GB Marine Group
April 18, 2025
Itama has introduced the Itama 54, a new 16.44-meter open cruiser designed to enhance onboard comfort and living space while retaining the brand’s signature style. The model, presented at boot Düsseldorf, marks Itama’s return to the 50 to 59-foot segment.Developed by the Ferretti Group Product Strategy Committee and the Group’s Engineering Department, with exterior and interior design by Tommaso De Luca, the Itama 54 features a streamlined aesthetic with functional innovations. The exterior includes a forward sun pad integrated into the deck and a redesigned transom that provides 1,800 liters of storage for water toys. Access to the bow has been relocated to the starboard side for improved convenience.The deck layout prioritizes comfort, with a large aft sun pad and a dual-cockpit design. The main cockpit includes a convertible dining area, while a second cockpit behind the windscreen offers a sheltered relaxation space. Both are served by a portside bar unit. The helm station features an ergonomic seat and a floating dashboard.Below deck, the Itama 54 accommodates two cabins, two bathrooms, a galley, and a dinette. The master cabin includes a central bed with storage, while the guest cabin offers a choice between a queen-size bed or bunk beds. Interior materials include wood, leather, and fabric, emphasizing simplicity and functionality. Side glazing runs the length of the hull, contributing to a modern silhouette.The yacht is powered by twin MAN i6-730 engines (730 HP) as standard, delivering a top speed of 33 knots and a cruising speed of 28 knots. An optional upgrade to MAN i6-850 engines (850 HP) increases performance to 37 knots top speed and 33 knots cruising speed (preliminary data).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
April 18, 2025
Camper & Nicholsons announces the establishment of its fourteenth office in Viareggio, Italy. This strategic move underscores the company's ongoing dedication to maintaining leadership in yacht construction and design.Located within one of Europe's premier yacht-building hubs, the new facility will focus on new-build sales, refitting services, and comprehensive project management. It symbolizes Camper & Nicholsons' evolving approach to yacht design, aiming to set new benchmarks for creative innovation and superior craftsmanship.According to Paolo Casani, CEO of Camper & Nicholsons, “The rising demand for new builds and project management necessitated establishing a specialized presence to enhance client service delivery. The Viareggio office provides an advanced structure guiding owners throughout all stages of yacht creation, from concept to completion.”Led by Daniela Duck, Managing Director of Camper & Nicholsons Italy, the office aims to cater to the expanding market for customized yacht solutions. Beyond conventional sales and project oversight, the Viareggio branch envisions becoming an inspirational space where clients engage directly in the design process, shaping their visions collaboratively with experts.Additionally, Camper & Nicholsons is pioneering novel digital tools to streamline and elevate the design phase further. This innovative initiative reinforces the company's reputation for pushing boundaries in yacht engineering and aesthetics.With its latest venture, Camper & Nicholsons seeks to usher in a transformative period for yacht development, blending tradition with modern technology. The firm welcomes stakeholders and enthusiasts alike to join in creating the next wave of exceptional vessels.Credits: Camper & Nicholsons
April 17, 2025