Italy

Picchiotti

<img src="https://photo-assets.superyachttimes.com/photo/375421/image/large-69cfe4a7338ab49ce9838eca06b1bd97.jpg" data-gid="gid://syiq/Photo/375421">Earlier this month, the 73.3-metre superyacht <a data-gid="gid://syiq/Yacht/3448" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautilus73.3m (240'6&quot;)Perini Navi2014">Nautilus</a> was observed anchored here in Antibes, in the south of France, following a period of maintenance works completed this spring in La Ciotat. Formerly known as Grace E, the superyacht <a data-gid="gid://syiq/Yacht/3448" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautilus73.3m (240'6&quot;)Perini Navi2014">Nautilus</a> was delivered in 2014 by <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> under its <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> brand in Viareggio as the largest motor yacht built by the shipyard. Designed for efficient, long-range cruising, the 1,876 GT yacht features exterior styling by <a data-gid="gid://syiq/Company/53" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Briand Yacht Design (Company)">Briand Yacht Design</a> and interiors originally created by the French designer <a data-gid="gid://syiq/Company/533" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rémi Tessier (Company)">Rémi Tessier</a>. Powered by twin <a data-gid="gid://syiq/Company/1408" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caterpillar Inc (Company)">Caterpillar</a> diesel-electric engines, she offers a cruising speed of 12 knots, a top speed of 16.5 knots, and a range of 7,500 nautical miles.If you would like to see your photo featured each day, then send your submissions to&nbsp;<a href="mailto:news@superyachttimes.com" target="_blank">news@superyachttimes.com</a>.

73m Perini Navi superyacht Nautilus anchored in Antibes

The 73m superyacht Nautilus, built by Perini Navi in 2014, was spotted anchored here in Antibes, France. 

In collaboration with Automobili Lamborghini, the <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">Italian Sea Group (TISG</a>) has unveiled the 31-metre&nbsp;<a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a>&nbsp;Lamborghini 101&nbsp;at the <a data-gid="gid://syiq/Event/271" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2025">Monaco Yacht Show 2025</a>, along with two new <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> concepts: the 53-metre P53 and the 63-metre P63.<img src="https://photo-assets.superyachttimes.com/photo/372441/image/large-7970d83335557caf437e6dde7a7786b4.jpg" data-gid="gid://syiq/Photo/372441">Following the success of the <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a>&nbsp;for Lamborghini 63, the <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a>&nbsp;Lamborghini 101 motor yacht represents a leap forward in performance and design.<img src="https://photo-assets.superyachttimes.com/photo/372438/image/large-13cb2767e53bbad20c677776ff317e2e.png" data-gid="gid://syiq/Photo/372438">With sculpted, aerodynamic lines inspired by Lamborghini’s super sports cars, she is a statement of power, capable of reaching a top speed of 45 knots. Her interior can be fully customised, allowing each vessel to be configured according to the owner's preferences.<img src="https://photo-assets.superyachttimes.com/photo/372443/image/large-f92b2d0e49b713ab0541287246d3e5fa.jpg" data-gid="gid://syiq/Photo/372443">“The <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a>&nbsp;Lamborghini 101 is not just a new model; it’s a vision brought to life,” commented Gianmaria Costantino, Chief Commercial Officer of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>. “We have listened to the evolving desires of today’s yacht owners and translated them into an uncompromising experience. This yacht unites power, design, and identity in a single statement.”<img src="https://photo-assets.superyachttimes.com/photo/372439/image/large-2d60b91376920436a00eaab405e5e7bc.jpg" data-gid="gid://syiq/Photo/372439">Prominent representatives from both companies attended the launch, including Christian Mastro, Head of Marketing at Automobili Lamborghini; Mitja Borkert, Director of Lamborghini Centro Stile; and Giovanni Costantino, CEO and Founder of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>.<img src="https://photo-assets.superyachttimes.com/photo/372437/image/large-3681b6515f751e92ca304ab7198aa63b.jpg" data-gid="gid://syiq/Photo/372437"><a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a> Lamborghini 101 is powered by triple <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> engines and has an aluminum hull and superstructure.

TISG unveils new 31m Tecnomar Lamborghini motor yacht

The Italian Sea Group presented the world premiere of the 31-metre Tecnomar for Lamborghini 101.

TISG unveils new 31m Tecnomar Lamborghini 101 motor yacht  

Monaco Yacht Show 2025 list of yachts

SuperYacht Times curated a list of yachts expected to grace the world's premier show for superyacht exhibition.


Yachts attending Monaco Yacht Show 2025

The 29.7-metre yacht <a data-gid="gid://syiq/Yacht/4964" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Karma29.7m (97'5&quot;)Picchiotti1987">Karma</a>, built by Italian shipyard <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchioti</a>, is listed for sale with Adam-Michael Papadakis of <a data-gid="gid://syiq/Company/808" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Moravia Yachting (Company)">Moravia Yachting</a>. She is characterised by her classic Italian design and spacious decks.<img src="https://photo-assets.superyachttimes.com/photo/243034/image/large-bd5e91a76e023c49c3c714b805767054.jpeg" data-gid="gid://syiq/Photo/243034">The <a data-gid="gid://syiq/Yacht/4964" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Karma29.7m (97'5&quot;)Picchiotti1987">yacht Karma for sale</a> has benefitted from major refits in 2019 and 2023, combining her classic design with modern-day standards in superyachts. In terms of accommodation, <a data-gid="gid://syiq/Yacht/4964" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Karma29.7m (97'5&quot;)Picchiotti1987">Karma</a> accommodates up to 12 guests in five staterooms. <a data-gid="gid://syiq/Yacht/4964" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Karma29.7m (97'5&quot;)Picchiotti1987"><img src="https://photo-assets.superyachttimes.com/photo/243031/image/large-3d0fbc53aa93114b4275188e33283a1d.jpeg" data-gid="gid://syiq/Photo/243031"><img src="https://photo-assets.superyachttimes.com/photo/243044/image/large-fad8fc49890527a5e795b7328b614e43.jpeg" data-gid="gid://syiq/Photo/243044">Karma</a>’s interiors are refined and contemporary. The <a href="https://www.superyachttimes.com/yachts/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht for sale</a> features a spacious main saloon equipped with a large sofa and dining area, alongside entertainment options. Moreover, the saloon has a sofa-bed that converts into an extra stateroom when needed.<a data-gid="gid://syiq/Yacht/4964" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Karma29.7m (97'5&quot;)Picchiotti1987"><img src="https://photo-assets.superyachttimes.com/photo/243030/image/large-6f122f958f46c0a04c13bb81de58df2d.jpeg" data-gid="gid://syiq/Photo/243030"><img src="https://photo-assets.superyachttimes.com/photo/243027/image/large-9f0d79d314be53e8e75ba3b08704a609.jpeg" data-gid="gid://syiq/Photo/243027"><img src="https://photo-assets.superyachttimes.com/photo/243035/image/large-49cca88e610567dd197e887785e3bc0e.jpeg" data-gid="gid://syiq/Photo/243035">Karma</a>, at her stern also features a generous swim platform with staircases upward leading to the alfresco dining aft deck. Additionally, the <a href="https://www.superyachttimes.com/yachts/motor/for-sale" rel="noopener noreferrer" target="_blank" title="">motor yacht for sale</a> has an upper deck complete with a sumptuous L-shaped sofa along with sunbeds, alfresco dining table with chairs shaded by the bimini hardtop above.<img src="https://photo-assets.superyachttimes.com/photo/243036/image/large-b488bc846ed4f850dc3c0c54249b2c1b.jpeg" data-gid="gid://syiq/Photo/243036">Performance-wise, the <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchioti yacht for sale</a> is powered by twin <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> engines and cruises at a normal speed of 14 knots and a top speed of 16 knots.Images courtesy of&nbsp;<a data-gid="gid://syiq/Company/808" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Moravia Yachting (Company)">Moravia Yachting</a>.

Picchioti yacht Karma for sale

Karma yacht by Picchioti available on the market with Adam-Michael Papadakis of Moravia Yachting


 30m Picchioti motor yacht Karma for sale

Citing current geopolitical and economic constraints, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> (TISG) has reported a decline in key financial metrics, as outlined by its Board of Directors in the company’s half-year report. The company’s portfolio includes brands <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a>, <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a>, <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a>, <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a>, <a data-gid="gid://syiq/Company/194" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="NCA Refit (Company)">NCA Refit</a> and <a data-gid="gid://syiq/Company/7113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Celi S.r.l (Company)">Celi 1920</a>.<img src="https://photo-assets.superyachttimes.com/photo/330852/image/large-4bf3eaa2517d3433bc0352c08e9306b0.jpg" data-gid="gid://syiq/Photo/330852">The results revealed a 1.4% decline in revenue compared to the first half of 2024, while net profit fell sharply by 58%, partly due to the previous period benefiting from a capital gain on the sale of the Viareggio shipyard.Commenting on these figures, Founder and CEO of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> Giovanni Costantino stated: “In a context of ongoing geopolitical and economic tensions, the protectionist policies enacted by the U.S. administration – through the introduction of additional import duties – have increased overall uncertainty and further complicated a market environment already undergoing a normalisation phase after the strong growth of recent years.”Below are the key figures to take away from the first half of 2025:<ul><li>Revenue €186.8 million, a decrease of 1.4% compared to €189.4 million in the first six months of 2024</li><li>EBITDA €30.4 million, down 6.3% from €32.4 million in the first half of 2024, with a margin on revenue of 16.3% versus 17.1% in the same period last year</li><li>Net profit €12.2 million, a decline of 58% compared to the first half of 2024, which was boosted by a capital gain from the sale of the Viareggio shipyard</li><li>Net financial position stood at €63.2 million negative, compared to €12 million negative at the end of December 2024</li><li>Investments for the period totalled €1.5 million</li><li>Total order book valued at €1.19 billion as of 30 June 2025</li><li>Guidance update: 2025 revenue expected between €350 million and €370 million, with an EBITDA margin forecasted between 16.5% and 17.0%</li></ul>“In this challenging scenario – characterised by a physiological, though temporary, slowdown in the yachting industry and longer negotiation timelines, particularly for larger yachts – we are satisfied with the regular progress of the many projects currently under construction,” explained Giovanni.Here is a complete summary of&nbsp;<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group’s</a>&nbsp;financial results for the first six months of 2025:RevenuesFor the first half of 2025, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> reported revenues of €186.8 million, representing a slight decrease of 1.4% compared to €189.4 million in the same period of 2024. Operating revenues totalled €183.5 million.Shipbuilding revenues reached €172.6 million, marking a 3% increase year-on-year, which <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> attributes to the steady progress of its ongoing contracts. Meanwhile, refit revenues amounted to €10.9 million, down 52% compared to the first half of 2024, reflecting a strategic focus on shipbuilding activities during the period.EBITDA EBITDA totalled €30.4 million, a decrease of 6.3% compared to €32.4 million in the same period of 2024, with a margin of 16.3%. The modest drop in profitability reflects a higher proportion of fixed structural costs, stemming from the lower production value recorded during the period.EBITEBIT stood at €25.6 million, down 4.5% compared to €26.8 million in the same period of 2024, with a margin on revenue of 13.7%.Net ProfitThe company also reported a group net profit amounting to €12.2 million, a decline of 58% versus €36.9 million in the first half of 2024. The report noted that the previous year’s result was boosted by a capital gain from the sale of the Viareggio shipyard.BacklogAs of 30 June 2025, the total order book, which represents the gross value of existing contracts for new yachts and refit projects yet to be delivered, stood at €1.19 billion, slightly down from €1.24 billion at 31 December 2024.The net backlog, which reflects the value of contracts for yachts not yet delivered, after deducting revenues already recognised in the income statement, was €362.3 million as of 30 June 2025, compared to €433.4 million at 31 December 2024.Investments<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> has made substantial investments in recent years to further internalise several high value-added production services, including steelwork and upholstery. During the first half of 2025, ordinary and extraordinary maintenance investments totalled €1.5 million.Net Financial PositionAs of 30 June 2025, the net financial position reflected net debt of €63.2 million, compared with €12.5 million at 31 December 2024 and €33 million at 31 March 2025. This change reflects the company’s operating results for the first half of the year, the distribution of €13 million in dividends and the investments undertaken during the period.In line with IAS/IFRS accounting standards, the net financial position also factors in the present value of concession fees payable to the Port Authorities for the shipyards in Marina di Carrara and La Spezia, as well as the Viareggio carpentry site. These fees totalled €7.5 million as of 30 June 2025 and will be settled over the respective concession periods.In June, the company secured a new €115 million medium-to-long-term loan with a seven-year term. This financing was accompanied by the repayment of all major existing loans at the time, effectively extending the average debt maturity under more favourable terms and ensuring sufficient resources to capitalise on an anticipated market recovery.Outlook for 2025The opening half of the year brought heightened uncertainty previously experienced in 2024. Alongside continued geopolitical unrest, most notably the ongoing war in Ukraine and worsening conflict in the Middle East, April also saw the implementation of new protectionist trade measures by the U.S. government.Given the current order book and progress on ongoing projects, the company now expects 2025 revenue to range between €350 million and €370 million, down from the earlier forecast of €410 million to €430 million. Profitability is projected at 16.5%–17.0%, compared with the previous guidance of 17.5%–18.0%.Against the backdrop of heightened market uncertainty and shifting global dynamics, Giovanni remarked: “Activity at our shipyards remains consistent, supported by meticulous organisation and ongoing enhancements to production processes. This has enabled us to deliver four large yachts during the period: three Admirals of 55, 66 and 78 metres and a 60-metre Perini Navi.”Expected Business Development<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> anticipates a positive outcome from ongoing negotiations for large yacht sales, reflecting growing demand for its brands. Strategic partnerships with <a data-gid="gid://syiq/Company/558" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Armani/Casa (Company)">Armani</a> and Automobili Lamborghini continue to strengthen, with new projects underway to reinforce the company’s position in the ultra-luxury segment.At the <a data-gid="gid://syiq/Event/271" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2025">Monaco Yacht Show 2025</a>, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> will debut several flagship models, including the 72-metre <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> <a data-gid="gid://syiq/Company/558" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Armani/Casa (Company)">Giorgio Armani</a>, a 60-metre <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> sailing yacht, two <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> yachts (78-metre full custom and 55-metre semi-custom) and a new 24-metre <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a>. These unveilings are expected to boost international visibility and drive commercial activity.The company is also advancing its semi-custom product line to broaden its offering, optimise production, improve margins and reduce delivery times, while preserving the craftsmanship and exclusivity that define its reputation.“We expect current negotiations to be finalised by the end of the fiscal year. The strength of our offering and the relationships we have built over time with increasingly informed international customers, together with our design excellence and tailor-made attention to detail, remain the key features of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> brands,” Giovanni concluded.

TISG revenue decline h1 2025

The Board of Directors of the Italian Sea Group (TISG) has released the company’s financial results for the first half of 2025.

The Italian Sea Group reports revenue and profit decline in H1 2025

New yachts at Cannes Yachting Festival 2025

SuperYacht Times curated a list of yachts expected to have their public debut at the Cannes Yachting Festival 2025.


Yacht debuts at the Cannes Yachting Festival 2025

The 40.78-metre <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> motor yacht <a data-gid="gid://syiq/Yacht/3077" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Aetea40.78m (133'10&quot;)Picchiotti1981">Aetea</a>, previously named Al Said, is on the market with Vassilis Fotilas of <a data-gid="gid://syiq/Company/158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fraser (Company)">Fraser</a>.&nbsp;<img src="https://photo-assets.superyachttimes.com/photo/295933/image/large-96d8477a33d3ef9814a4214730c23494.jpg" data-gid="gid://syiq/Photo/295933">Originally delivered in 1981, the <a href="https://www.superyachttimes.com/yachts/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht for sale</a> underwent a major refit in 2014, including brand-new engines, two new generators and a complete engine room overhaul. Moreover, she is built to <a data-gid="gid://syiq/Company/7911" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lloyd's (Company)">Lloyd's Class</a> standards and meticulously maintained by her original owners.<img src="https://photo-assets.superyachttimes.com/photo/295936/image/large-1ba4e28a5bf61f84aca03a7943ff2bda.jpg" data-gid="gid://syiq/Photo/295936"><a data-gid="gid://syiq/Yacht/3077" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Aetea40.78m (133'10&quot;)Picchiotti1981">Aetea</a> features naval architecture crafted by her Italian builder’s in-house team with exterior design penned by <a data-gid="gid://syiq/Company/906" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Arthur de Fever (Company)">Arthur de Fever</a>.<img src="https://photo-assets.superyachttimes.com/photo/295935/image/large-175aa834ccff082ab295bce0e1ad8a1b.jpg" data-gid="gid://syiq/Photo/295935"><img src="https://photo-assets.superyachttimes.com/photo/295937/image/large-8ed053d385595184aeb31cfdf78cb8a8.jpg" data-gid="gid://syiq/Photo/295937">Accentuated by rich wood paneling and thoughtfully curated furnishings, the interior of the <a href="https://www.superyachttimes.com/yachts/picchiotti/for-sale" rel="noopener noreferrer" target="_blank" title="">Picchiotti yacht for sale</a> exudes timeless charm. Those onboard can unwind and socialize in the spacious main saloon, where comfort meets elegance.&nbsp;<img src="https://photo-assets.superyachttimes.com/photo/360684/image/large-75cee2efbaa70509b7d8d741fde3cba7.png" data-gid="gid://syiq/Photo/360684"><img src="https://photo-assets.superyachttimes.com/photo/295941/image/large-334e1a898129e4cedc29c3733940f845.jpg" data-gid="gid://syiq/Photo/295941"><img src="https://photo-assets.superyachttimes.com/photo/295940/image/large-f388da8ab3ea24e61579e4954abcf865.jpg" data-gid="gid://syiq/Photo/295940"><img src="https://photo-assets.superyachttimes.com/photo/295939/image/large-6b753eab44e04b76f4e73004774a8593.jpg" data-gid="gid://syiq/Photo/295939"><img src="https://photo-assets.superyachttimes.com/photo/295938/image/large-320bd25e36749f20deb5dd9e7bd9fa99.jpg" data-gid="gid://syiq/Photo/295938">With a volume of 337 GT, she comfortably accommodates up to 10 guests across five well-appointed staterooms. Each stateroom reflects the yacht’s rustic charm and meticulous attention to detail, showcased through details such as antique maps and delicate figurines that create a warm, homey atmosphere for everyone on board. Further accommodations are provided for 10 crew members of the <a href="https://www.superyachttimes.com/yachts/motor/for-sale" rel="noopener noreferrer" target="_blank" title="">motor yacht for sale</a>.<img src="https://photo-assets.superyachttimes.com/photo/295934/image/large-991230b03ae1948b52204ff1db55e506.jpg" data-gid="gid://syiq/Photo/295934"><img src="https://photo-assets.superyachttimes.com/photo/360683/image/large-a9c8fdfeffa33a56e0f9b45503757997.jpg" data-gid="gid://syiq/Photo/360683">Moving outside, her deck spaces offer ample room for guests to soak up the sun or enjoy delectable alfresco dining.<img src="https://photo-assets.superyachttimes.com/photo/360686/image/large-0962f338d8e174dbff358045f88a2f53.png" data-gid="gid://syiq/Photo/360686">Regarding her propulsion system, the yacht <a href="https://www.superyachttimes.com/yachts/aetea" rel="noopener noreferrer" target="_blank" title="">Aetea for sale</a> is powered by twin <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> engines which gives her a cruising speed of 14.5 knots and a maximum speed of 16 knots.

41m Picchiotti superyacht Aetea for sale

The 40.78-metre Picchiotti motor yacht Aetea is on the market.

<a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB Yachts</a>, a brand of the <a data-gid="gid://syiq/Company/6468" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Next Yacht Group (Company)">Next Yacht Group</a>, is strategically focusing on markets that prioritise performance and have a strong preference for sporty products. In response to these market demands, the company has recently broadened its product range. Following the successful launch of the <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB</a>110 yacht in September 2024, <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB Yachts</a> introduced its new 29-metre model, the <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB</a>95, designed by Marco Casamonti of <a data-gid="gid://syiq/Company/7152" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Archea Associati (Company)">Archea Associati</a>. This yacht is available in two distinct versions: the 95 Cruise and 95 Sport .<a href="http://superyachttimes.com" rel="noopener noreferrer" target="_blank" title="">SuperYacht Times</a> spoke with Roy Capasso, Head of Sales at <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB Yachts</a>, who revealed that two <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB</a>95 yacht models are currently under construction, and the brand is able to build, for this specific model, between four to five yachts a year. The discussion centered on the customisation options available, its comparison with similar models from competitors, and the latest developments at <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB Yachts</a>.<img src="https://photo-assets.superyachttimes.com/photo/347913/image/large-58a0441bd515813487d140185f983721.jpg" data-gid="gid://syiq/Photo/347913">Differences between the&nbsp;<a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB</a>95 Cruise and SportCapasso revealed that The <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB</a>95 Cruise, inspired by its larger counterpart, the <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB</a>110, skilfully combines spacious, elegantly designed social areas with the brand’s signature sporty technology, achieving an ideal balance between comfort and adventure. The vessel is distinguished by its sporty demeanour, exceptional quietness and lack of vibrations, which significantly enhance onboard livability and comfort. Both the interiors and exteriors are luxurious, airy, and welcoming, designed with meticulous attention to detail. A prominent feature is the flybridge, improved with reverse glazing that enlarges the space and offers spectacular sea views, accessible via two carbon-fibre external staircases from the aft deck.<img src="https://photo-assets.superyachttimes.com/photo/347917/image/large-ed4e7e29a6d3d46d5821e2a28b663eff.jpg" data-gid="gid://syiq/Photo/347917">The second version, the <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB</a>95 Sport, is designed for owners seeking the thrill of pure adrenaline and exhilarating high-speed water navigation, both safely and in style. Featuring sinuous and sporty lines, a convertible rooftop seamlessly integrated into its streamlined profile, and a state-of-the-art propulsion system, this model delivers impressive performance in terms of speed, manoeuvrability, efficiency, and comfort. The <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB</a>95 S, with its innovative design solutions, can truly be described as the 'racing car' of the sea, elevating the yachting experience to a new level."This model embodies a new style of cruising – powerful, safe, efficient, noiseless, and immensely fascinating," Mr. Capasso stated. "We are certain the <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB</a>95 will meet and exceed our owners' wishes and requirements."How&nbsp;<a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB Yachts</a>&nbsp;differentiate themselves from their competitorsSince the brand's inception in 1992, <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB Yachts</a> has set itself apart through its innovative use of jet drive propulsion systems. “We are proud to be leaders in this area, as we are one of the first shipyards that has been dedicated to jet production for years, always incorporating a triple engine setup,” highlights Capasso.Capasso further elaborates on their performance metrics, “When we analyse fuel consumption, we consider it relative to consumption per mile, not in absolute terms.” This methodological precision is evident in previous models like the <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB</a>110, which achieves speeds of 30-32 knots while consuming only about 18-20 litres per mile, remarkably comparable to an eight-cylinder engine of the same size.The drive for innovation is particularly pronounced in the sport version of <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB Yachts</a>. “The superstructure of the sport models is made of fiberglass but reinforced with carbon to significantly lighten the vessel and lower its center of gravity,” Capasso notes. This not only enhances the yacht’s navigational capabilities but also contributes to its efficiency, reducing fuel consumption per mile. <img src="https://photo-assets.superyachttimes.com/photo/347914/image/large-bb67f1e31117cf9177d406c5c80d925b.jpg" data-gid="gid://syiq/Photo/347914"><a data-gid="gid://syiq/Company/6468" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Next Yacht Group (Company)">Next Yacht Group</a>’s strategy and future ambitions<a data-gid="gid://syiq/Company/6468" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Next Yacht Group (Company)">Next Yacht Group</a> is positioning itself to become a leading player on the global nautical stage by bolstering its resources to enhance operational capabilities. “We have infused the company with expertise and appointed a head of sales for each brand to ensure a focused and effective market approach,” explains Roy Capasso.A key element of this strategic enhancement is the acquisition and development of the ex <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini</a> and ex <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picciotti</a> shipyards in Viareggio. “These shipyards are strategically located on the Viareggio dock and include a substantial waterfront area of about 2000 square-metres, where we complete and deliver our boats directly to customers,” adds Capasso.Furthermore, <a data-gid="gid://syiq/Company/6468" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Next Yacht Group (Company)">Next Yacht Group</a> has established a dedicated customer lounge. This facility serves a dual purpose: it welcomes prospective buyers and provides a comfortable setting for existing clients to personalise their vessels. According to Capasso, “The customer lounge is integral to enhancing client experiences, offering tailored services to both potential buyers and those configuring their yachts.” <img src="https://photo-assets.superyachttimes.com/photo/347918/image/large-adb4499d4eadf5cb5a53e948733b027b.jpg" data-gid="gid://syiq/Photo/347918">As for the <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB</a>95 yacht model, “More details will be unveiled at the upcoming <a data-gid="gid://syiq/Event/258" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dubai International Boat Show - 2025">Dubai International Boat Show</a>,” says Roy Capasso.

Roy Capasso on the AB95 and their vision for the future

AB Yachts is strategically focusing on markets that prioritise performance and have a strong preference for sporty products.

AB Yachts Head of Sales Roy Capasso on the AB95 and their vision for the future

<img src="https://photo-assets.superyachttimes.com/photo/343022/image/large-b42d66917b01e1e6db76285eb580efb4.jpg" data-gid="gid://syiq/Photo/343022">The superyachts <a data-gid="gid://syiq/Yacht/6182" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Anawa62.0m (203'5&quot;)Damen Yachting2020">Anawa</a>, <a data-gid="gid://syiq/Yacht/6176" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vector57.0m (187'0&quot;)Benetti SpA2018">Vector</a> and <a data-gid="gid://syiq/Yacht/2496" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Galileo55.7m (182'9&quot;)Perini Navi2011">Galileo</a> were spotted in December docked in the waters of the Maldives, in <a data-gid="gid://syiq/Company/8003" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Faro Marina (Company)">Faro Marina</a>. The 57-metre motor yacht <a data-gid="gid://syiq/Yacht/6176" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vector57.0m (187'0&quot;)Benetti SpA2018">Vector</a>, built by <a data-gid="gid://syiq/Company/212" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Benetti SpA (Company)">Benetti</a> in 2018, showcases a steel-hulled displacement designed by the shipyard in-house team and features an interior created by the Italian designer <a data-gid="gid://syiq/Company/58" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Luca Dini Design & Architecture (Company)">Luca Dini</a>. The 865 GT yacht accommodates up to 12 guests across five staterooms, with space for 14 crew members. Powered by twin <a data-gid="gid://syiq/Company/1408" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caterpillar Inc (Company)">Caterpillar</a> diesel engines, each producing 1,470 horsepower, <a data-gid="gid://syiq/Yacht/6176" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vector57.0m (187'0&quot;)Benetti SpA2018">Vector</a> achieves a top speed of 15 knots.Beside her, the 62-metre superyacht <a data-gid="gid://syiq/Yacht/6182" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Anawa62.0m (203'5&quot;)Damen Yachting2020">Anawa</a>, delivered by <a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting</a> in 2020 and built for global exploration. Built to Polar Class standards, the explorer yacht is equipped for extended expeditions, offering up to 30 days of autonomous cruising. Her impressive features include two spacious tender garages, a dive store and a fully functional helipad, making her ideal for adventure seekers. Completing the lineup, the 55.7-metre explorer yacht <a data-gid="gid://syiq/Yacht/2496" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Galileo55.7m (182'9&quot;)Perini Navi2011">Galileo</a>&nbsp; was delivered in 2011 by <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a>. She has completed two full circumnavigations of the globe, venturing into some of the most remote destinations, including the Northwest Passage and the expansive waters of the Pacific Ocean.

Superyachts docked in the Maldives 

The superyachts Anawa, Vector and Galileo are seen docked in Male, in the Maldives. 

Italian yacht builder <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> has unveiled the first images for a new 61-metre superyacht concept, Vintage. <img src="https://photo-assets.superyachttimes.com/photo/341108/image/large-5429faacbd1f7f597bc0a8b8c236551b.jpg" data-gid="gid://syiq/Photo/341108"><a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> was acquired by <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group (TISG)</a> in 2022, alongside the <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> brand. Following this acquisition, <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> unveiled a new Gentleman yacht line, which included the first model in the series, a 23.95-metre aluminium motor yacht with an expected delivery date of 2025.Read: <a data-gid="gid://syiq/Article/58134" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="First 24m Picchiotti Gentleman yacht in-build and interiors unveiled (2023-07-19 10:30:00 +0200)">First 24m Picchiotti Gentleman yacht in-build and interiors unveiled</a><img src="https://photo-assets.superyachttimes.com/photo/341105/image/large-e48ecca37531acf1e163c93afc6d0258.jpg" data-gid="gid://syiq/Photo/341105">The <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> boasts a history dating back to 1575, with its origins in Limite sull’Arno, a shipbuilding centre during the Medici era in Florence. Initially crafting small merchant boats for the Arno River, the shipyard expanded during the Renaissance to produce sailing ships, later progressing to 19th-century oceanic sailboats and steamships.Over time, <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> shifted its focus from commercial vessels to military ships and, by the 1920s, gradually turned its attention solely to yachts, especially after World War II. Today, under the guidance of Giovanni Costantino, CEO and Founder of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>, the brand seeks to honour and strengthen <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a>’s historic legacy.<img src="https://photo-assets.superyachttimes.com/photo/341107/image/large-c07bbf9376127e894a1c5616da7e4a91.jpg" data-gid="gid://syiq/Photo/341107">Vintage showcases interior and exterior design by <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> R&amp;D Centro Stile, with naval architecture crafted by <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a>. She features a steel hull and aluminium superstructure, with an impve beam of 11.2-metres.“The new Vintage concept features old money style, with a modern twist to the classic lines of the American yachts’ golden age,” explained <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a>. “Leisure, indulgence, and success, this is part of the allure of owning a <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> Vintage.”<img src="https://photo-assets.superyachttimes.com/photo/341106/image/large-ab797ef923681781ba3280358c26ca0c.jpg" data-gid="gid://syiq/Photo/341106">With its bold ‘old-money’ aesthetic, the Vintage yacht concept is designed to appeal not only to traditional tastes, but also to younger generations, particularly Gen Z. From automated systems to artificial intelligence, the seamless integration of smart tech onboard will help to set Vintage apart from others.Details surrounding the new Vintage yacht are being kept tightly under wraps, but initial details show that she will be able to accommodate up to 12 guests, as well as a crew of 15. <img src="https://photo-assets.superyachttimes.com/photo/341104/image/large-0e54d319ef29cfcec05d50b454b705d1.jpg" data-gid="gid://syiq/Photo/341104">In terms of performance, Vintage will be equipped with twin <a data-gid="gid://syiq/Company/1408" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caterpillar Inc (Company)">Caterpillar</a> engines, providing her with a comfortable cruising speed of 14 knots and a top speed of 15.5 knots.&nbsp;

Picchiotti unveils 61m Vintage yacht concept

Italian yacht builder Picchiotti has unveiled the first images for a new 61-metre superyacht concept, Vintage. 

Picchiotti unveils 61m ‘old-money’ Vintage superyacht concept

<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group (TISG)</a> has approved the financial results for the first nine months of 2024, revealing another positive quarter for the company which encompasses brands such as <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a>, <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a>, <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a>, <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a>, <a data-gid="gid://syiq/Company/194" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="NCA Refit (Company)">NCA Refit</a>, and <a data-gid="gid://syiq/Company/7113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Celi S.r.l (Company)">Celi</a> 1920.<img src="https://photo-assets.superyachttimes.com/photo/330852/image/large-f30b583ba740d9f9311d4417a62c6d38.jpg" data-gid="gid://syiq/Photo/330852">Key figures to take away from the first nine months of 2024<ul><li>Revenues equal to €292 million, an increase of 11.4% compared to the first nine months of 2023</li><li>EBITDA equal to €50.1 million, a 16% increase from the first nine months of 2023</li><li>Net Financial Debt equal to €19 million</li><li>Investments for the period equal €7.2 million</li><li>The total value of contracts in progress (order book) is equal to €1.275 million as of September 30th, 2024.</li><li>Filippo Menchelli appointed as new Chairman of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a></li></ul>“Following the excellent response obtained last September at the Monaco Yacht Show with the presentation of superyachts featuring extremely refined aesthetics and an excellent level of quality, we are working to finalise some important negotiations between the end of 2024 and the beginning of 2025, which will give us further momentum to consolidate the 2025 guidance,” commented Giovanni Costantino, Founder and CEO of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>.Below is a full breakdown of the financial results for <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> for the first nine months of 2024:<img src="https://photo-assets.superyachttimes.com/photo/278853/image/large-c6f79c6d72278113ba8eaca84ce952e0.png" data-gid="gid://syiq/Photo/278853">RevenuesThroughout the first nine months of 2024, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> recorded €292 million in revenues, an 11.4% increase from the previous year’s figure of €262.2 million for the same period. In regards to its operating revenues, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> saw an increase of 12.5% from 2023, for a total of €292.1 million.&nbsp;On top of this, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> reported a 12.2% increase in shipbuilding revenue for the first nine months of 2024, compared to 2023, with a total of €257.3 million. TISG states that this result is attributable to the regular progress of its existing projects.<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> also saw a total refit revenue of €34.8 million for the first nine months of 2024, an increase of 5.8% compared to the same period in 2023.<img src="https://photo-assets.superyachttimes.com/photo/224771/image/large-6c9943bfc855a363fdae0848683c74e8.jpg" data-gid="gid://syiq/Photo/224771">EBITDA<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> has reported an EBITDA equal to €50.1 million for the first nine months of 2024, up by 16% from the €43 million which was recorded for the same period in 2023 – giving them an EBITDA margin of 17.2% overall.<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> stated that the increase in operating margin over time is attributable to the company’s strong focus on operating cost management, as well as its improved efficiency in production processes.&nbsp;They added that benefits from its investment strategy in production capacity, with an optimal mix of synergies between shipbuilding and refit activities, had also contributed, alongside economies of scale. <img src="https://photo-assets.superyachttimes.com/photo/299411/image/large-0c278c95831829aaa8d38b96eac3721f.png" data-gid="gid://syiq/Photo/299411">Backlog<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> announced that the total value of its order book amounts to €1.275 million. This total takes into account the gross value of existing contracts related to new yachts and refit projects, which as of 30 September 2024, have not yet been delivered to clients.The total value of existing contracts for yachts not yet delivered to clients and the net revenues already recorded in the income statement (net backlog) is equal to €544 million.<img src="https://photo-assets.superyachttimes.com/photo/306419/image/large-176fab6ecaa60429a5acce58ec5da4d6.jpg" data-gid="gid://syiq/Photo/306419">InvestmentsDuring the first nine months of 2024, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> made investments of €7.2 million, aimed at further internalising the high value-added phases of the production process through the creation of the business unit dedicated to interior steelworks.This also included investments into the general site, as well as the expansion of the sales offices at the Marina di Carrara headquarters. In total, investments made in the third quarter of the year amounted to €2.2 million.<img src="https://photo-assets.superyachttimes.com/photo/278854/image/large-10473eb6d3fdc1c0fbd3a7cdaa4e5d83.jpg" data-gid="gid://syiq/Photo/278854">Net financial debtAs of 30 September 2024, the total net financial debt is equal to €19 million, versus a net financial debt of €1.5 million as of 31 December 2023. This reflects that a cash out of €19.6 million &nbsp;for the payment of dividends was made, alongside investments of €7.2 million for the first nine months of 2024 and a receipt of €21 million for the sale of the Viareggio shipyard.&nbsp;Read: <a data-gid="gid://syiq/Article/60721" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TISG finalises sale of Viareggio shipyard to Next Yacht Group for €21 million (2024-06-12 13:15:00 +0200)">TISG finalises sale of Viareggio shipyard to Next Yacht Group for €21 million</a>In accordance with IAS/IFRS accounting standards, the net financial position includes the discounted value of the fees due to the Port Authorities for the state-owned concessions of the Marina di Carrara, La Spezia and Viareggio shipyards, which, as of 30 September 2024, amounted to €8.2 million, to be paid according to the duration of the relevant concessions.During the first nine months of 2024, the production activities of ongoing orders resulted in a working capital utilisation of €14 million, which allowed for significant work progress.<img src="https://photo-assets.superyachttimes.com/photo/337396/image/large-f73639c0abcbaeec45ac1e165d7b930f.png" data-gid="gid://syiq/Photo/337396">New chairman of The Italian Sea GroupFollowing the resignation of Simona Del Re as Chairwoman of the Board of Directors at <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group (TISG)</a> the company has announced the re-appointment of Filippo Menchelli as the new Chairman.After receiving a favourable opinion from the Appointments and Remuneration Committee, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> resolved to co-opt Filippo Menchelli onto the Board of Directors. In accordance with Article 2386 of the Italian Civil Code, he will be appointed as Chairman of the Board of Directors of the Company during the next Shareholders Meeting.Read: <a data-gid="gid://syiq/Article/61992" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Filippo Menchelli appointed as new Chairman of The Italian Sea Group (2024-11-13 16:15:00 +0100)">Filippo Menchelli appointed as new Chairman of The Italian Sea Group</a><img src="https://photo-assets.superyachttimes.com/photo/297415/image/large-b1791589f6806d87887224b91de9c63c.jpg" data-gid="gid://syiq/Photo/297415">Business outlook for 2024-2025Following the success achieved last September at the <a data-gid="gid://syiq/Event/224" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2024">Monaco Yacht Show 2024</a>, with the 65.9-metre <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> superyacht <a data-gid="gid://syiq/Yacht/9447" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="JAS65.9m (216'2&quot;)Admiral2025">JAS</a> and the 78.29-metre <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> superyacht <a data-gid="gid://syiq/Yacht/8722" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Platinum78.29m (256'10&quot;)Admiral2024">Platinum</a>, the company is working on several negotiations for large yachts, which it believes will be finalised between late 2024 and early 2025.“The success of the semi-custom lines also continues, including the Panorama project and the <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> Quaranta project; of the latter, at the end of October the keel-laying ceremony of the first motoryacht under construction was held, the sale of which was completed in the first half of 2024 and which marked an important development for <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>'s fleet,” added Giovanni Costantino.

TISG reports 11.4% revenue growth in Q3 2024

TISG has approved the financial results for the first nine months of 2024, revealing another positive quarter for the company.

The Italian Sea Group reports 11.4% revenue growth in Q3 2024

The Board of Directors of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>, encompassing brands such as <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a>, <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a>, <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a>, <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a>, <a data-gid="gid://syiq/Company/194" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="NCA Refit (Company)">NCA Refit</a>, and <a data-gid="gid://syiq/Company/7113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Celi S.r.l (Company)">Celi 1920</a>, has released their half-year financial report. <img src="https://photo-assets.superyachttimes.com/photo/299411/image/large-0c278c95831829aaa8d38b96eac3721f.png" data-gid="gid://syiq/Photo/299411">In the first half of 2024, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> (<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a>) reported consolidated revenues of &nbsp;€189.4 million, marking a 14.2% increase from €165.9 million in the corresponding period of 2023. Operating revenues also rose to €189.8 million, up 16.8% from the previous year.&nbsp;The breakdown reveals that shipbuilding revenues reached €167.1 million, a growth of 20.1%, driven by steady advancements in ongoing projects. Meanwhile, refit revenues stood at €22.6 million, consistent with the previous year's figures. It is noteworthy that refit revenues typically experience seasonal fluctuations, often accelerating in the latter half of the year.The total value of the order book for <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a>, encompassing both new yacht constructions and refit projects yet to be delivered, stands at &nbsp;€1.323 billion. This figure represents the gross value of existing contracts in the shipbuilding and refit sectors. Additionally, the net value of contracts for yachts not yet delivered to clients, after accounting for revenues already recognised in the income statement (net backlog), amounts to €611.4 million.<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)"><img src="https://photo-assets.superyachttimes.com/photo/306419/image/large-176fab6ecaa60429a5acce58ec5da4d6.jpg" data-gid="gid://syiq/Photo/306419"></a><a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> reported an Earnings Before Interest, Taxes, and Amortization (EBITDA) of €32.4 million in 2024, a 19% increase from €27.3 million in the prior year. The EBITDA margin improved to 17.1% from 16.4% in the previous year. This enhancement in operating margin is attributed to rigorous operating cost management, strategic balancing of shipbuilding and refit activities, and the internalisation of high value-added production processes. These improvements follow the recent establishment of a business unit dedicated to steelworks for interior finishing.<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> reported an Earnings Before Interest and Taxes (EBIT) of €26.8 million this year, reflecting a 23.5% increase from €21.7 million recorded during the same period in 2023 . The margin on revenues also improved, reaching 14.2% compared to 13.1% in the first half of 2023.A net result of €29 million was achieved, marking a substantial increase of 113.4% compared to €13.6 million in the corresponding period of 2023.In terms of strategic projections, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> anticipates revenues to range between €400 million and €420 million, with an EBITDA margin expected to be between 17% and 17.5%.<img src="https://photo-assets.superyachttimes.com/photo/297415/image/large-b1791589f6806d87887224b91de9c63c.jpg" data-gid="gid://syiq/Photo/297415">Giovanni Costantino, Founder &amp; CEO of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>, remarked: “Our positive trend continues and the first half of 2024 marks a significant increase in revenues and EBITDA, with a remarkable growth in Net Profit. We are also very proud of having received the admission to the STAR segment, an important milestone which confirms the company's compliance with stringent requirements in terms of transparency, governance, communication and economic-financial soundness, values that <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> has always pursued with determination. This milestone will allow us to strengthen our visibility in the international financial markets, as well as our commitment to shareholders and all stakeholders.”

The Italian Sea Group reports 14% increase in total revenue for H1

The Board of Directors of The Italian Sea Group has officially reviewed and approved the half-year financial report as of 30th June 2024.

The Italian Sea Group reports 14% growth in total revenue for H1

A major yacht fire has broken out at Marina Zea in Piraeus this morning, engulfing three yachts and causing substantial damage. According to local news outlets the newly launched 32.96-metre <a data-gid="gid://syiq/Company/778" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Golden Yachts Ltd. (Company)">Golden Yachts</a> motor yacht <a data-gid="gid://syiq/Yacht/2147" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="O'Riana32.96m (108'2&quot;)Golden Yachts Ltd.2024">O’Riana</a>, the 42.49-metre <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> motor yacht <a data-gid="gid://syiq/Yacht/2362" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Libra Y42.49m (139'5&quot;)Picchiotti1977">Libra Y</a>, 30-meter motor yacht <a data-gid="gid://syiq/Yacht/1040" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Etra I30.0m (98'5&quot;)Lowland Yachts B.V.1989">Etra I</a>, were caught in the blaze and both yachts have now sunk. Reports have suggested that one of the three severely damaged boats is a local tourist vessel rather than a private yacht.<img src="https://photo-assets.superyachttimes.com/photo/321394/image/large-64b7be40716a414e5683242d05b41b1b.jpg" data-gid="gid://syiq/Photo/321394">The fire originated on one yacht and subsequently spread to two others, with explosions being reported, according to PortThema. According to news outlet Lefimerida, one firefighter was hospitalised for breathing problems and the Coast Guard rescued 10 individuals who were walking on the pier. <iframe width="640" height="360" src="https://www.youtube.com/embed/_bl06lDZzJc?&amp;wmode=opaque" frameborder="0" allowfullscreen="" class="fr-draggable"></iframe>At the peak of the incident, ten vehicles with 26 firefighters, three Coast Guard boats, and a fire brigade vessel were deployed at the site. As of Friday morning, 26 firefighters, along with ten vehicles, three Coast Guard boats, and a fire department vessel, remain on the scene to continue monitoring the situation.<img src="https://photo-assets.superyachttimes.com/photo/321395/image/large-451020772a54d642f2b6c7a9c099b06f.png" data-gid="gid://syiq/Photo/321395">One of the damaged yachts is believed to be a commercial tourist vessel. Authorities reported no individuals trapped on any of the yachts. The Coast Guard, fire department, and private divers are collaborating to assess and address any potential water pollution resulting from the fire.<iframe width="640" height="360" src="https://www.youtube.com/embed/0jSX68XgyGk?&amp;wmode=opaque" frameborder="0" allowfullscreen="" class="fr-draggable"></iframe>

Yacht fire Marina Zea

Firefighters extinguished a major blaze at Marina Zea in Piraeus, which engulfed three luxury yachts. The Greek Coast Guard rescued ten individuals.

Major fire in Marina Zea, Piraeus destroys yachts O'Riana, Libra Y, and Etra I

It is with great sadness that the <a data-gid="gid://syiq/Company/473" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Overmarine Group SPA (Company)">Overmarine Group</a> has announced the passing of its esteemed founder and President Giuseppe Balducci today (10 June 2024). <img src="https://photo-assets.superyachttimes.com/photo/314533/image/large-ab34417df6b842bfbfdbb909edc4131e.jpg" data-gid="gid://syiq/Photo/314533">Born in Limite sull'Arno in 1937, Giuseppe Balducci embarked on his yachting career from &nbsp;a remarkably young age. Relocating to Viareggio during his childhood, Giuseppe began working as an electrician at the historic <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> shipyard in 1953 at just 16 years old. He remained with the Viareggio-based shipyard until its bankruptcy in 1971.During the same year, Giuseppe founded his own company Elettromare, a brand that continues to manufacture marine electrical systems to this day. Even then, Elettromare was a trailblazer in creating advanced electrical panels and systems for boats.During his business ventures Giuseppe Balducci extensively toured Italy and the United States, which provided him with insights into the evolving boat-building industry, particularly the shift from wood to fibreglass. This inspired him to open a factory in Massarosa (Lucca), dedicated to constructing fibreglass yachts. His foresight proved invaluable as during the 1980s, many boat builders began relying on him for their hull construction.<img src="https://photo-assets.superyachttimes.com/photo/14758/image/large-8ee1780749eebbb20a400a7a68aba8ed.JPG" data-gid="gid://syiq/Photo/14758">This vision led to the establishment of <a data-gid="gid://syiq/Company/473" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Overmarine Group SPA (Company)">Overmarine</a>, which specialised in the construction of fast maxi-open yachts, renowned for their timeless style. The first open-maxi model, the Mangusta 80, is a testament to Giuseppe's innovative spirit, with as many as 85 units sold in the following years.<a data-gid="gid://syiq/Company/473" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Overmarine Group SPA (Company)">Overmarine Group</a>, as it stands today, is a testament to Giuseppe Balducci's unwavering enthusiasm and belief in his dream. His commitment to the potential of Viareggio saw him become a founding partner of two key companies in the port of Viareggio, Udina and <a data-gid="gid://syiq/Company/5323" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Arpeca Shipyard (Company)">ArPeCa</a>.Giuseppe remained actively involved in his ventures until the very end, personally overseeing the construction of a new manufacturing plant in Pisa, which is set to be officially opened in the coming days.“Giuseppe will always be remembered as a reserved man, with a subtle sense of humour and a great love for his wife Bruna, his children Maurizio and Katia, his beloved granddaughters, and all his employees, who, together with him, have built vessels that have become icons in the marine industry,” added the <a data-gid="gid://syiq/Company/473" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Overmarine Group SPA (Company)">Overmarine Group</a>.The funeral service will be held tomorrow, Tuesday, 11th June, at 11:00 at the Church of Don Bosco in Viareggio.

Overmarine Group founder and President Giuseppe Balducci passes away

Overmarine Group has announced the passing of its esteemed founder and President Giuseppe Balducci today. 

In memoriam: Overmarine Group founder and President Giuseppe Balducci

The Board of Directors of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> (<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a>), a leading yacht builder based in Marina Di Carrara and encompassing brands such as <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a>, <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a>, <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a>, <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a>, <a data-gid="gid://syiq/Company/194" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="NCA Refit (Company)">NCA Refit</a>, and <a data-gid="gid://syiq/Company/7113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Celi S.r.l (Company)">Celi 1920</a>, has officially reviewed and approved the preliminary consolidated financial results as of May 15th, 2024. <img src="https://photo-assets.superyachttimes.com/photo/299411/image/large-0c278c95831829aaa8d38b96eac3721f.png" data-gid="gid://syiq/Photo/299411"><a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> reported revenues amounting to €95.6 million, marking a notable increase of 12.2% compared to €85.2 million in the corresponding quarter of 2023. The company also observed a significant rise in EBITDA, which grew by 16.6% to reach €16.1 million, up from €13.8 million in the first quarter of the previous year. The EBITDA margin has shown improvement, stabilising at 16.8%, compared to 16.2% in the same period of 2023.Shipbuilding revenues were particularly strong at €86.7 million, reflecting a 26.2% increase over the prior year, driven by the steady progress of ongoing construction projects and new sales contracts. However, refit revenues slightly declined to €9.1 million due to the higher allocation of production capacity to shipbuilding.The total value of the order book as of March 31, 2024, stood at €1,344 million, with the net backlog (value of contracts for yachts pending delivery net of recognised revenues) reaching €667.4 million.There are 35 projects under construction: 25 yachts and 10 <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a> for Lamborghini 63, with deliveries scheduled until 2027.<img src="https://photo-assets.superyachttimes.com/photo/276845/image/large-89bdd037be0ad035cf382cde4c424bad.jpg" data-gid="gid://syiq/Photo/276845"><a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> also reported a net financial position of negative €25 million, a significant shift from a positive stance of €2 million as of December 31, 2023. This transition primarily reflects the financial implications of a substantial extension in the state concession for the Marina di Carrara shipyard. According to IAS/IFRS accounting standards, the extension—stretching the concession period from December 31, 2043, to December 31, 2072—necessitated adjustments to the Net Financial Debt, incorporating an additional €8 million for the current valuation of anticipated future fees.<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> has also entered into an agreement with <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson Yachts</a>, designating the Yachting Family Office as an "Authorised Sales Agency" for the American market. <img src="https://photo-assets.superyachttimes.com/photo/112607/image/large-8cf16f6fca69e81b2b7760622e8a35c7.jpg" data-gid="gid://syiq/Photo/112607">Following a robust first quarter, characterised by steady progress on ongoing projects and an anticipated increase in order intake for the second half of the year, The Italian Sea Group reaffirms its financial projections for 2024. Initially disclosed during the Capital Markets Day, the company forecasts year-end revenues to be between €400 million and €420 million, with an EBITDA margin expected to be between 17% and 17.5%. Additionally, at the same event on February 7th, The Italian Sea Group presented its strategic vision for 2025. The company projects continued growth, with revenues expected to range from €430 million to €450 million and an EBITDA margin set to expand to between 18% and 18.5%.<img src="https://photo-assets.superyachttimes.com/photo/297415/image/large-b1791589f6806d87887224b91de9c63c.jpg" data-gid="gid://syiq/Photo/297415">Giovanni Costantino, Founder &amp; CEO of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>, commented: “I am very proud of the results we approve today, which confirm the moment of development and consolidation that our Group is experiencing. The increasing appreciation of our superyachts from Owners all over the world and the success of semi- custom lines, which let us optimise our production capacity, allow us to enhance the quality and visibility of our order book. We continue our expansion in the most dynamic areas of the world for luxury yachting, attracting an ever- increasing and more resilient clientele also due to the important partnerships with leading sector brokers.”

TISG reports revenues of up €95.6 million for Q1 2024

The Board of Directors of TISG has officially reviewed and approved the preliminary consolidated financial results as of May 15th, 2024.