The Board of Directors of The Italian Sea Group S.p.A., approved the selected information relating to the business performance in the third quarter 2021 (Revenues; EBITDA; Backlog; Net Financial Position; Investments). In the first nine months of 2022 TISG has recorded Total Revenues equal to EUR 210.3 million, up 64.6% compared to EUR 127.8 million in the same period of 2021. The Gross Backlog (Order Book) as of September 30th 2022 equals to EUR 983 million, while the Net Backlog amounts to EUR 566 million. 35 yachts are currently under construction, of which 19 mega and giga yachts and 16 Tecnomar for Lamborghini 63.
Nine months after the completion of the Perini Navi acquisition and the integration of the related assets, The Italian Sea Group confirms its strategy for the relaunch of the brand and the production plan previously communicated to the market. The restyling of the Perini Navi fleet continues; the first model, a 56 meter ketch, has been recently unveiled and has been developed in collaboration with Malcolm McKeon Yacht Design. The partnership, in line with the plan of continuity and development of sailing yacht production, reprises some of the most iconic stylistic elements of the Perini Navi fleet, reinterpreting them from a modern perspective, combining Malcolm McKeon’s input with TISG’s production standards.
The Italian Sea Group will continue to invest in the two important serial production projects, which have been recently presented – the Gentlemen’s Picchiotti line and the Admiral Panorama motor-yacht, maintaining its high-end positioning and utilizing exclusively noble materials, such as steel and aluminum. The Group confirms its strategy, stating that the production of the yachts will start only following the signing of sale contracts and without trade-ins.
The Italian Sea Group continues its sustainable development journey, with particular attention towards energy sources. The photovoltaic plant, installed in June in the Marina di Carrara shipyard, has already allowed for a significant production of green energy and has partially contributed to limit the effects of the recent increase in energy costs.
The plant is expected to cover 25% of the energy consumption of the Marina di Carrara production site, when construction works will be completed.
Furthermore, the Company continues to invest on young employees and excellences in the local community. In October 2022 the Company started the project “The Italian Sea Group Young Award”, aimed at rewarding young employees who stood out for passion, dedication, acquired skills, competences, and results achieved. Additionally, after the success of the past edition for the training program hosted by the TISG Academy in collaboration with prestigious Italian universities, new technical update programs for the Group’s young employees have started again in the month of September.
Giovanni Costantino, Founder & CEO of The Italian Sea Group
“The results of the first nine months of 2022 confirm a strong and constant growth, allowing TISG to position itself at the highest end of the Revenue Guidance for 2022, with an EBITDA Margin as of September 30th at 15.7%, well above the target already announced to the market. The solidity of our strategy is also testified by the success of our series production projects that, just a few months after their launch, have generated a strong commercial interest with the sale, in the third quarter 2022, of two Admiral Panorama 50 meter motor yachts. The implementation of these serial projects will allow a further acceleration of our growth path, by enhancing two different growth drivers and thus continuing to focus our internal engineering capacity on deeply innovative custom-made yachts such as the new Perini fleet, that will soon be launched and, we believe, will bring more momentum to our order portfolio. Furthermore, our investment plans progress steadily in all the three shipyards, with a significant focus on environmental sustainability thanks to the completion of the photovoltaic system in the Marina di Carrara shipyard and the successive start of the sheds coverage in the La Spezia and Viareggio production sites,” comments Giovanni Costantino, Founder & CEO of The Italian Sea Group.
The Italian Sea Group is a global operator in the luxury yachting industry, listed on Euronext Milan (“EXM”) and active in the construction and refit of motor yachts and sailing yachts up to 140 meters. The Company, led by Italian entrepreneur Giovanni Costantino, operates on the market with the brands Admiral, renown for elegant and prestigious yachts, Tecnomar, Perini Navi, and Picchiotti; the Company has a business unit, NCA Refit, that manages the maintenance and refit services for yachts and mega yachts with a length over 60 meters.
Credits: The Italian Sea Group
ISA Yachts announced that the ISA Sportiva 66-meter project, currently being crafted in Ancona, has entered the outfitting phase, marking a significant milestone in its development.Derived from the esteemed naval engineering of M/Y OKTO, renowned for its innovation and contemporary design, the ISA Sportiva 66-meter exemplifies the shipyard's expertise elevated to new heights. With a modern interpretation, the vessel embraces ISA Yachts' distinctive design elements, including the iconic arches connecting the decks and the circular entrance hall, while infusing a sporty allure with its setback superstructure and distinctive reverse bow.Crafted by the esteemed Nuvolari Lenard studio, the ISA Sportiva 66-metre boasts captivating exteriors and interiors, complemented by ISA Yachts' technical office's meticulous naval engineering.Notable features include a spacious scenic swimming pool on the aft deck, a gym, and a custom pool on the sun deck, promising unparalleled luxury and relaxation. Scheduled for delivery by the end of 2026, the vessel accommodates the Owner's cabin and a guest cabin on the main deck, with four additional double cabins below deck.The lower deck forward houses accommodation for a crew of 15 across eight cabins, with the Captain's cabin situated on the upper deck. Equipped with a steel hull and aluminum superstructure, the ISA Sportiva 66-meter is powered by two MTU 16V 4000 M65L engines, enabling impressive speeds of up to 18 knots and a cruising speed of 16 knots.Dedicated to producing forward-thinking superyachts made only with superior quality materials, ISA Yachts is a leading global superyacht and megayacht builder. Every ISA superyacht is uniquely designed to her owner’s briefs, and is built using the highest technology, the best quality materials and the finest furnishings and finishes. Currently in build are two 80-meter projects due to become the new ISA Yachts flagships. ISA Yachts is part of Palumbo Superyachts, which also includes: Columbus Yachts, Mondomarine and Extra Yachts.Credits: ISA Yachts
May 6, 2024
Evo Yachts is charting new waters with its debut at the Venice Boat Show, marking a significant milestone in the brand's global presence. Partnering with exclusive dealer Frattin Yachting, Evo Yachts will unveil its acclaimed Evo R4 WA model at the Arsenale in Venice.Fabio Frattin, CEO of Frattin Yachting, expressed his enthusiasm for this collaboration, highlighting the significance of showcasing Evo Yachts in the prestigious setting of the Venice Boat Show. The Evo R4 WA epitomizes avant-garde Italian design, embodying a revolutionary approach to yachting.This inaugural appearance at the Venice Boat Show is part of Evo Yachts' strategic initiative to explore new markets and expand its reach globally. With the Adriatic region emerging as a promising market for Evo Yachts, the partnership with Frattin Yachting amplifies the brand's presence in the area.The Venice Boat Show, hosting over 220 exhibitors and 300 boats, offers a unique platform to engage with customers and yacht enthusiasts from across Northern and Eastern Europe, including the Balkans, and the Middle East.Evo Yachts' showcase will feature the sleek and versatile Evo R4 WA, renowned for its transformative design elements. The "XTension" bulwarks and stern "Transformer" enhance onboard space and functionality, reflecting Evo Yachts' commitment to innovation.The Venice Boat Show will be held from May 29 to June 2 at Piazzale di Torre Porta Nuova.The Evo Yachts shipyard is based near Naples. She was born in 2014 from a fortunate encounter between Blu Emme Yachts and the Neapolitan yacht designer Valerio Rivellini. The heart and entrepreneurship that kick-started EVO originated from Blu Emme Yachts, a luxury yachts refitting company. Blu Emme was created in 2013 by the Mercuri brothers, a family whose entrepreneurial experience spans different industries.Credits: Evo Yachts
May 6, 2024
Project 821, the world's first hydrogen fuel cell superyacht was launched on May 4 at Feadship's Amsterdam shipyard. Enter Project 821, the pioneering hydrogen fuel-cell superyacht that promises to redefine eco-conscious luxury on the seas. Half a decade in the making, this trailblazing vessel represents Feadship's bold endeavor to push the boundaries of green technology in the superyacht industry.Crafted under the visionary design of RWD and guided by Edmiston's expert representation, Project 821 embodies Feadship's commitment to environmental stewardship. Utilizing a groundbreaking zero-diesel approach, this innovative yacht is equipped to navigate between harbors and anchorages while running its hotel load and amenities on clean, emission-free power sourced from green hydrogen. Jan-Bart Verkuyl, Feadship's Director and CEO of Royal Van Lent Shipyard, underscored the project's global significance, stating, "The aim has been to develop a new, clean technology not just for this project, but for the world."Feadship's dedicated research and development team has been at the forefront of exploring hydrogen and other fossil-free fuel alternatives in line with the company's ambitious goal of achieving "net zero" yachts by 2030. Hydrogen fuel cells, renowned for their combustion-free electricity generation, offer a sustainable solution with pure water as their sole byproduct. Despite their proven track record in other industries, integrating hydrogen fuel cells into maritime applications presented unique challenges, including the absence of regulations for hydrogen storage and fuel-cell systems. Collaborating with industry partners like Edmiston and Lloyd's Register, Feadship spearheaded the development of scaled equipment, safety protocols, and regulatory frameworks.One of the primary challenges faced during the project was the development of a viable solution for storing compressed liquid hydrogen onboard a luxury yacht. Despite the technological hurdles, investing in hydrogen technology is crucial for transitioning away from fossil fuels, with hydrogen emerging as one of the most efficient and clean alternatives. Project 821's innovative fuel-cell technology, which also accommodates methanol as a liquid fuel option, represents a significant milestone in sustainable yacht design.Project 821's environmental impact extends beyond its revolutionary propulsion system. With meticulous attention to detail, the yacht incorporates advanced waste heat recovery systems and smart energy management solutions to minimize its carbon footprint further. Its spacious interior, meticulously crafted by RWD Studio, offers a seamless blend of luxury and sustainability, featuring light neutral colors, textured fabrics, and eco-conscious materials.Project 821 stands as a testament to Feadship's unwavering commitment to innovation and sustainability in the superyacht industry. As the largest motor yacht ever launched in the Netherlands, this visionary vessel sets a new standard for environmentally conscious luxury, offering unparalleled comfort and performance while treading lightly on the planet. With its exemplary design and green credentials, Project 821 represents a bold step towards a more sustainable future for yachting.Based in the Netherlands and with roots dating back to 1849, Feadship was formed as a group in 1949 as a marketing partnership between six Dutch shipyards, de Vries Lentch, Van de Stadt, Witsen & Vis, Akerboom, De Vries Scheepsbouw and Van Lent Shipyard, and De Voogt Naval Architects. Feadship is well-known as one of the Netherlands’ most elite yacht builders and delivers superyachts from 50–100+ meters in length.Credits: Feadship
May 6, 2024
Sunreef Yachts unveils its innovative 40M Explorer Eco model, a cutting-edge eco-friendly version designed to redefine yachting and venture far beyond conventional routes. This new vessel features a narrower, more efficient hull that significantly reduces energy consumption, enabling seamless ocean crossings. Sunreef's pioneering ultralight composite construction, paired with a state-of-the-art electric propulsion system, empowers the yacht to navigate vast distances using sustainable energy sources.A standout feature is the expansive swimming platform at the aft, which transforms into a versatile beach club or watersports area based on preferences. Massive folding wings extend the platform, enhancing onboard recreational possibilities. The main deck boasts four spacious guest cabins, while the upper deck serves as the owner's exclusive sanctuary, complete with private quarters and a terrace offering panoramic views.Innovative bow sections absorb incoming waves, enhancing comfort for guests and optimizing energy efficiency during navigation. Equipped with dual 540 kW engines and capable of cruising at 10 knots, the Sunreef Explorer Eco is tailor-made for transatlantic voyages. This 40-meter yacht accommodates up to 10 guests, supported by a dedicated crew of seven.Renowned Sunreef Ambassador Mike Horn, whose collaboration with the brand has been instrumental in inspiring this design, joined forces with Sunreef Yachts' CEO during an expedition in Greenland. "Exploring Greenland under sail with Mike has been a profound motivator for me to drive sustainability in the yachting industry," remarked Francis Lapp, CEO of Sunreef Yachts.Sunreef Yachts was founded by Francis Lapp in 2002 in Gdansk, Poland. Since then, the shipyard has been designing and manufacturing luxury sailing and power multihulls. Credits: Sunreef Yachts
May 3, 2024
Emerging from a highly secretive five-year construction period, Alvia, formerly known as Project Hanami after the iconic Japanese cherry blossom festival, has finally set sail. The 76.1m custom superyacht was handed over to her owner at the Royal Van Lent shipyard in Amsterdam, the Netherlands, on April 30. This remarkable vessel has only been unveiled once before, with her bare hull arriving at the building shed in 2021. Following meticulous craftsmanship, Alvia made a brief appearance outside the Kaag Island drydock in August 2023 for the installation of her stylized mast on the top deck.Originally sold by the Burgess brokerage team in 2019, construction on Project Hanami commenced shortly thereafter. The Burgess technical services team spearheaded the project from pre-contract specification to launch, collaborating closely with the owner's representatives and top-tier engineers and designers in the industry.The exterior design of Alvia was expertly crafted by RWD, while De Voogt handled her naval architecture. Constructed from a blend of steel and aluminum, the vessel boasts a sleek displacement hull, a classic flared bow, and graceful, sweeping lines. Exterior highlights include a 6.4-meter pool on the main deck aft and a versatile sports court on the foredeck. Additionally, the bridge deck features interactive lighting to illuminate your sky-high gatherings.With a generous beam of 13.2-meter, Alvia offers an impressive interior volume of 2,265 GT. Designed by RWD and Susan Young Interiors, the spacious living quarters are easily accessible via an elevator, ensuring convenience for all aboard. The owner's deck features folding balconies that expand to create additional alfresco relaxation areas as desired. Another notable feature is the lower deck wellness center, complete with a gym, spa, and scenic sea terrace.While Burgess did not disclose specific propulsion details, Alvia boasts a transatlantic range of 5,500 nautical miles, allowing effortless navigation between her preferred cruising destinations in the Mediterranean and Caribbean.Based in the Netherlands and with roots dating back to 1849, Feadship was formed as a group in 1949 as a marketing partnership between six Dutch shipyards, de Vries Lentch, Van de Stadt, Witsen & Vis, Akerboom, De Vries Scheepsbouw and Van Lent Shipyard, and De Voogt Naval Architects. Feadship is well-known as one of the Netherlands’ most elite yacht builders and delivers superyachts from 50–100+ meters in length.Credits: Burgess
May 3, 2024