In 2021 The Italian Sea Group recorded remarkable growth compared to 2020. Since June 8, 2021 the Company has been listed on Euronext Milan from Borsa Italiana.
The resources collected during the IPO – equal to 44.5 million euros – proved to be key in finalizing the acquisition of Perini Navi, one of the most prestigious brands in the sailing superyacht industry. The acquisition took place on December 22, 2021 through New Sail S.r.l. a subsidiary fully owned by TISG, for a total value of 80 million euros.
The operation was financed by cash availability and long-term bank credit lines.
The total value of the Order Book of Shipbuilding and Refit as of December 31, 2021 is equal to 827 million euros, with wide visibility until 2026 of the projects under construction, about 80% of which is presented by yachts in the +50m range. At the end of 2021, the Net Backlog of Shipbuilding and Refit is equal to 536 million euros.
The revenue breakdown by geographical area shows a higher relevance of the American market.
In particular, this increase is driven by the stronger brand awareness in the Region, stimulated by the collaboration with renowned US brokers, that allowed the Company to enter the American market for big dimension yachts as confirmed by the sale of an Admiral 82m mega yacht at the end of 2021.
Giovanni Costantino, Founder & CEO of The Italian Sea Group
“The year 2021 has been particularly important for The Italian Sea Group, with the further strengthening of our business in the mega yacht segment and in strategic markets like the US,” says Giovanni Costantino, Founder & CEO of The Italian Sea Group. “Soon afterwards the Perini Navi acquisition, finalized at the end of January, the production sites of Viareggio and La Spezia are already operational, the majority of employees have been reinstated and we have launched important projects with great commitment and energy, with the goal of further strengthening such a prestigious brand in the global yachting world. The results announced today confirm the success of our business strategy that focuses on the continuous research of excellence, innovation and quality. Based on these results, that allow us to look at the many future opportunities with great optimism and commitment, we confirm the 2022 Guidance.”
An additional element which is significant to the Company’s strategy is the consolidation in the sailing yacht segment, which is experiencing a strong increase in demand also thanks to the increasing interest from owners towards sustainability and the environment. As a confirmation of this, TISG has undertaken the completion of a 60m sailing yacht for a US client (order originally acquired from the previous Perini Navi property).
Collaborations with brands of the caliber of Giorgio Armani and Automobili Lamborghini have contributed to further strengthen the Company positioning in the luxury segment and, as a confirmation of what was announced during IPO, TISG intends to finalize another important partnership.
The Italian Sea Group is a global operator in the luxury yachting industry, listed on Euronext Milan (“EXM”) and active in the construction and refit of motor yachts and sailing yachts up to 140 meters. The Company, led by Italian entrepreneur Giovanni Costantino, operates on the market with the brands Admiral, renown for elegant and prestigious yachts, Tecnomar, Perini Navi, and Picchiotti; the Company has a business unit, NCA Refit, that manages the maintenance and refit services for yachts and mega yachts with a length over 60 meters.
Credits: The Italian Sea Group
The GTX116#1 and her owner arrive in Monte Carlo for the Monaco GP, an exciting encounter between the racing spirit embodied by the Pershing GTX Series and adrenaline-pumping high speed.The shipyard has shared the first photographs of this first unit of the new Pershing model – Caffeine is the name chosen by the owner – featuring a sleek, streamlined profile that encapsulates the brand’s sporty character. The yacht is painted a new shade of gray, with a special shade of blue for the deckhouse, while the generous glazed surfaces flood the interiors with natural light.The hull over 35 meters in length and 7.70 meters in the beam, has a 150 sqm of outdoor areas seamlessly connected to the water, taking liveability to the next level. The first Pershing GTX116 is equipped with a triple water jet propulsion system, which can be paired with three MAN V12 2000 engines each rated 2,000 mhp (optional) for a top speed of 35.5 knots and a cruising speed of 29.5 knots. 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
June 1, 2023
The 32.27m Sorvind is the fifth unit in Southern Wind’s 105 mini-series. The yacht is the result of the expertise of Farr Yacht Design, who took care of the yacht’s naval architecture and Nauta Design, responsible for the exterior and interior Design with the help of Jeroen Machielsen from the Dutch Studio Hermanides for the interior decoration.Nauta worked on the refinement of the deck geometry of Sorvind, making lines and shapes sweeter, more pleasant and contemporary (i.e., the coachroof lines have been made less mineral and sexier) and in the interior décor Jeroen Machielsen of Studio Hermanides provided a “Nordic” touch that the owner was looking for.Sorvind features the tried and tested RS (raised saloon) configuration, which allows guests sitting in the saloon to have the surrounding scenery in direct sight thanks to ample hull windows that let natural light fill in and illuminate the interiors.The deck design is similar to previous SW105s, although some details of the coachroof design and geometry have been modified to feature softened chamfers and radiuses for a sporty yet elegant look. A dodger, bimini with removable side panels and a boom extended awning, protect and shade the guest cockpit and the sunbathing area.The hull shape of the SW105 series by Farr Yacht Design is characterized by a narrow bow, fine waterline entry and optimized transom shape for a sleek, aggressive look that is accentuated by Sorvind’s jet black hull.The interior color scheme has been created by Jeroen Machielsen of the Dutch studio Hermanides, who signed off the décor. Because of the owner’s Nordic origins the color palette is inspired by the northern landscape: long dark nights combined with bright white snow for a cozy look and feel that is also fresh and welcoming. The owner’s suite is located forward of the saloon for maximum privacy with a VIP cabin close by and two guest cabins aft of the saloon (the twin beds of the starboard cabin can be converted into a double bed) for a total of eight guests.The saloon amidships is a light and bright open space where a full complement of guests can relax in comfort on sofas or around the dining table. Immediately forward of the living area is a fully equipped custom bar that separates the main saloon from the owner’s private area. “Distinctive, refined and essential: these were the pillars of my vision, reflected in my lifestyle and instilled in every detail of my yacht,” says the owner. “I wanted a sailing yacht that could still be in touch with the ocean, a sensation that sometimes gets lost with bigger boats. I think we really hit a nice size of boat and a great style. Everything is uncluttered, smooth and clean.”Southern Wind is a boutique bluewater sailing yacht shipyard founded in Cape Town in 1991. Since its foundation, SWS has specialized in the production of semi-custom high-performance superyachts. Nauta Design was founded by Massimo Gino and Mario Pedol in 1985. Their design included the yachts for Southern Wind, projects with Baltic Yachts, but were also asked to create motor yachts of all sizes (up to 180 m) such as the exterior profile of the Lürssen megayacht Azzam.Credits: Giuliano Sargentini/Nauta Design
June 1, 2023
Extra Yachts has launched the third unit of its X96 Triplex model, providing an optimal distribution of her 238 GT over four decks. The client was introduced by Igor Cherentaev of Aberton Yachts. The X96 Triplex exterior was designed by Francesco Guida in collaboration with the proven designers of Palumbo Superyachts, while the interiors are by the international studio Hot Lab.The large opening floor-to-ceiling windows on both the main and the upper decks create a seamless indoor-outdoor flow which invites guests to prioritize wellness and embrace nature. Accommodation is provided by four cabins located on the lower deck and the full-beam (7.6 meters) owner cabin on the main deck forward.Drawing on three powerful Volvo Penta IPS engines of 1000hp each, the propulsion system of X96 Triplex can reach a maximum speed of 17.5 knots and cruising at 12 knots.Extra Yachts is a part of the Palumbo Superyachts network and specializes in the development of yachts with a strong personality. Its distinctive lines are combined in a variety of motor yacht models ranging from 76' to 130' and a 30-meter motor catamaran, all characterized by highly liveable interiors and exteriors, reduced consumption and a good range. Credits: Extra Yachts
June 1, 2023
The Italian Sea Group attended with two Tecnomar for Lamborghini 63 motor yachts the Formula 1 Grand Prix held in Monaco on May 28, 2023. The two yachts, recognizable by their ultra-sporty silhouette, arrived from the most important harbors in the Mediterranean Sea and moored in "pitch view" among the most luxurious yachts of the industry and on the world's most famous and glamorous urban circuit, displayed from practice races to Sunday's official race."The high-performing and innovative Tecnomar for Lamborghini 63 motor yacht with its 63 knots of speed represents the avant-garde of luxury speed boats," states Giovanni Costantino, Founder and CEO of The Italian Sea Group. "Perfectly in line with the mood of the Monaco event, it allowed owners and guests to enjoy a unique experience”."Tecnomar for Lamborghini 63 is an incredible yacht; a true Lamborghini in all her design, speed and sporty performance. We had a great time on board for the entire period of the Monaco Grand Prix," says the owner L.E.The Italian Sea Group’s Tecnomar brand produces and commercializes yachts in steel and aluminum up to 50 meters. Founded in 1987 and acquired by the Italian Sea Group in 2009, Tecnomar has launched 289 yachts through the years, also thanks to the Tecnomar Evo line, which has earned a great success in the Asian market. Credits: The Italian Sea Group; Unsplash
May 31, 2023
Tommaso Spadolini designed a 650 sqm three-storey villa, nestled among the hills overlooking Lake Lugano. The interior and exterior areas were inspired by the world of yachting. The villa was made for the entrepreneur and influencer Serena Spinucci, co-founder of the Milaner brand which markets a careful selection of clothing and accessories produced by the best Italian artisans. Her son Giovanni dealt with the architectural work. “I met Serena and her husband in 2011, because they were friends of an Italian owner for whom I was following the refit of a yacht,” says Tommaso Spadolini. “It was on that occasion that they asked me to refit their yacht, Virginian, which was followed by the refitting of two more of the family's boats. After so much experience together, Serena kindly asked for my help in designing the interiors and arranging the outdoor areas of her new villa in Lugano.”The leitmotif of the project was immediately clear, both in the selection of colors and materials. Developed over three floors, the villa integrates perfectly into the hilly landscape overlooking Lugano and its lake. However, the original building had small windows. This was the first challenge: to connect the inside of the house with the outside as if they were one, so that the garden and the landscape would become an integral part of the villa. The large glass walls of the living room merge into a single environment with the surrounding garden.In the garden, Tommaso Spadolini and Serena Spinucci studied a layout that was at the same time elegant, comfortable, practical and that could emphasize the “green furniture”, the work of the Hortensia garden design company. “Together we have studied all the external paths that connect the swimming pool, the changing room and the relaxation area with television," explains Tommaso Spadolini. “By using the inclination of the hill slope, we placed a gazebo on the roof of the villa, which is at the same level as the swimming pool: when you sit down at the table to have lunch, it really feels like being on the flying bridge of a yacht!”Oak wood is the characterizing material of the interiors, prepared in different ways by the master craftsmen of the Del Curto carpentry in Chiavenna, where mock-ups of all the rooms were also created before they were set up in the villa.The interior furnishings are a skilful mix of modern and traditional styles, ensured by the presence of family furniture heirlooms, such as the large tapestry that dominates the wall of the dining room, flanked by two ancient rudders, which blend perfectly with the Mars round table, the Audrey chairs and the modern Golden Cloud chandelier designed by Paolo Castelli.In the living room, Promemoria large sofas and central coffee table create a fascinating contrast with the large antique carpet. The master sleeping area is on the same floor: the bedroom, which overlooks the lake directly through a large window, opens onto a terrace that is perfect for breakfast or relaxing moments.The sleeping area for children and guests is located on the lower floor, next to a spacious and well-equipped fitness area.Serena Spinucci, photo courtesy of Norman Rinaldi“Tommaso studied every detail with the expert eye of a naval architect and, thanks to his many years of experience, he understood our requests and needs perfectly,” says Serena Spinucci. “He really managed to create a welcoming environment that often makes us feel we are on board our own yacht.”Credits: Giovanni Malgarini
May 31, 2023