The Italian Sea Group: All scheduled deliveries are confirmed for 2023
by The Italian Sea Group 29 Dec 2023 17:08 AEDT
Admiral S-Force 55m Super Yacht © The Italian Sea Group
To round off a successful year, The Italian Sea Group confirms the deliveries of the three innovative yachts in 2023 under the Tecnomar, Perini Navi, and Admiral brands, following the established schedule.
In June and December, the three yachts were delivered, previously unveiled at the Monaco Yacht Show 23:
- Tecnomar This Is It, the innovative and futuristic 43m catamaran.
- Perini Navi Art Explorer, the 47m sailing catamaran, is among the largest in the world.
- Admiral S-Force 55, the motor yacht with interiors designed by Giorgio Armani, consolidating the company's relationship with this extraordinary brand.
According to the Global Order Book 2024, The Italian Sea Group was once again recognised as the leading Italian builder of yachts above 50 meters in total length.
With a combined length of 1,374 meters of yachts under production, the group ranks third globally in the superyacht and megayacht segment, about ten metres behind the second position. It also takes fifth place in the overall worldwide rating, moving up three spots from the previous year and maintaining its growth trend.
The Company concluded the first nine months of the year with a Gross Backlog of EUR 1.3 billion, a 25% growth in Revenues, and a significant EBITDA increase of 31% with a Revenue Margin of 16.5%.
The strong visibility of the order book, with deliveries scheduled until the end of 2027, and the excellent business development have allowed TISG to confirm its Guidance 2023 at the upper end of the range with Revenues of Euro 365 million and an EBITDA Margin of 16.5%.
TISG confirms all schedules of launches and deliveries for the upcoming 2024 (including five superyachts), as agreed with its owners.
"The achievements to date, being the third-largest yacht producer globally over 50 meters, the tremendous success at the Monaco Yacht Show, and the important awards received in 2023, confirm the validity of our development strategies and meet the market and shareholder expectations" - commented Giovanni Costantino, Founder & CEO of The Italian Sea Group - "We will continue to invest in sustainable development and cutting-edge aesthetic and technological innovations".