Press release
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may 11, 2022 - The Italian Sea Group
The Board of Directors Approves the Selected Information of the First Quarter 2022
Total Revenues at +98.6% EBITDA at +120.3% and EBITDA Margin at 14.8% Guidance for FY 2022 confirmed: Total Revenues between 280 and 295 million Euros and EBITDA Margin at 15.5%
Selected financial information of the first quarter 2022 compared to the same period of 2021:
• Total Revenues: 69 million Euros, +98.6% versus 34.7 million Euros in the first quarter 2021;
• EBITDA: 10.2 million Euros, +120.3% versus 4.6 million Euros in the first three months of 2021, with a margin on revenues of 14.8% versus 13.4% in the first quarter 2021;
• Backlog: Gross backlog (Shipbuilding and Refit) equal to 891 million Euros and Net Backlog (Shipbuilding and Refit) equal to 573 million Euros;
• Net Financial Debt: at 53 million Euros compared to a Net Financial Position positive for 41 million Euros as of December 31st 2021;
• Investments: 4 million Euros due to the progress of the TISG 4.0 and TISG 4.1 plans and the fine-tuning of the Viareggio and La Spezia shipyards.
Marina di Carrara, May 11th 2022 – The Board of Directors of #theitalianseagroup S.p.A. (“TISG” or the “Company”), global operator in the luxury yachting industry, today approved the selected financial information about the progress of the activities related to the first quarter 20221 (Revenues; EBITDA; Backlog; Net Financial Position; Investments).
Giovanni Costantino, Founder & CEO of The Italian Sea Group, commented: “The first quarter results confirm the effectiveness of our strategic vision and the growth project that we are carrying out.
The acquisition of Perini Navi is already showing a very positive impact on our activities, both in terms of revenues and with regards to our positioning on global markets. The completeness of our portfolio and product range, together with the renowned technical and stylistic quality, will allow us to continue growing also by entering markets where we see great potential.
The expansion of our production capacity through the integration of the Viareggio and La Spezia shipyards has allowed to increase the Shipbuilding and Refit activities, with an optimal mix that allowed to accomplish excellent results in terms of operating margins. The attention to marginality will continue to be our main focus while achieving a solid growth path, through an effective system of budget and control as well as cost management, always respecting quality and the complete customer satisfaction.”
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