Press release
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august 04, 2022 - The Italian Sea Group
The Italian Sea Group: Preliminary consolidated results at June 30th 2022 approved
2022 Guidance confirmed
The Board of Directors resolves the acquisition of 100% of “TISG Turkey” shares
Key preliminary consolidated results at June 30th 2022:
• Total Revenues: 133 million Euros, + 64.0% versus 80.9 million Euros in the first half of 2021;
• EBITDA: 20 million Euros, +93.7% versus 10.3 million Euros at June 30th 2021, with a margin on revenues equal to 15% (vesus 12.7% in the first half of 2021);
• Backlog: Gross Backlog equal to 922 million Euros and Net Backlog equal to 537 million Euros;
• Net Financial Debt at 47 million Euros versus a Net Financial Position positive for 41 million Euros at December 31st 2021;
• Investments: 7 million Euros at June 30th, 2022;
• 2022 Guidance confirmed.
Marina di Carrara, August 4th 2022 – #theitalianseagroup S.p.A. (“TISG” or the “Company”), global operator in luxury yachting with the brands Picchiotti, Admiral, Perini Navi, Tecnomar and NCA Refit, announces that the Board of Directors, during today’s meeting, has approved the preliminary consolidated results at June 30th 2022.
Giovanni Costantino, Founder & CEO of #theitalianseagroup, commented:
“The excellent results recorded in the first half of 2022 confirm the solidity of our Company’s development project in line with the guidance for 2022, despite a complex macroeconomic and geopolitical environment. We continue to strengthen our brands in new markets, with exciting growth opportunities and great commercial commitment for all products, as proven by the new partnership agreements signed with leading international brokers as well as by the expansion of our commercial presence in strategic locations, such as the flagship store opened in June in Porto Cervo, in the heart of one of the most renowned destinations for international yachting and luxury.
In the coming months, we will continue to carry on the activities planned to relaunch the Perini Navi and Picchiotti brands, which continue to generate a strong interest from Owners all over the world, especially in the Americas, Asia and Middle East. In particular, the new Picchiotti fleet represents a strategic extension of our product range and gives homage to a brand which is recognised as the historical heritage of the yachting industry, addressing a niche of clients who love the timeless elegance of classic lines. By the end of the year, we will present a complete restyling of the Perini Navi fleet and unveil the model of the “new Maltese Falcon”, which will be absolutely iconic and innovative both in terms of aesthetics and technology.”
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