The Italian Sea Group concludes 2023 on a triumphant note, affirming the timely deliveries of three groundbreaking yachts under the Tecnomar, Perini Navi, and Admiral banners. The trio, Tecnomar This Is It (43m catamaran), Perini Navi Art Explorer (47m sailing catamaran), and Admiral S-Force 55 (motor yacht with interiors by Giorgio Armani), were unveiled at the Monaco Yacht Show.
Admiral S-Force 55
Maintaining its stature as the leading Italian builder of yachts above 50 meters, The Italian Sea Group ranks third globally in the superyacht and megayacht sector, showcasing 1,374 meters of yachts under production. This achievement reflects a growth trajectory, securing the fifth position in the worldwide rankings, marking a three-spot climb from the previous year.
Art Explorer
Financially robust, the company closed the initial three quarters of the year with a EUR 1.3 billion Gross Backlog, a 25% revenue growth, and a significant 31% surge in EBITDA, achieving a Revenue Margin of 16.5%. With deliveries scheduled until 2027, the company maintains a strong order book and affirms its 2023 guidance at the upper end of the range, targeting revenues of Euro 365 million and an EBITDA Margin of 16.5%.
Giovanni Costantino
Looking forward, The Italian Sea Group is set to continue its success into 2024, with a confirmed schedule of launches and deliveries, including five superyachts. Giovanni Costantino, Founder & CEO, expresses confidence in their development strategies, emphasizing sustained investment in sustainable practices and cutting-edge aesthetic and technological innovations. The company's achievements, marked by global recognition and significant awards in 2023, align with market and shareholder expectations, establishing them as a key player in the yacht manufacturing landscape.
This Is It
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