The Italian Sea Group (TISG), a leading global player in the luxury yacht industry, recently announced its financial results for the first half of 2024. The company’s revenue grew by 14.2% year-over-year to €189.4 million, driven by strong performance in both shipbuilding and refit activities.

Shipbuilding revenues increased by 20.1% to €167.1 million, reflecting ongoing progress on several construction projects. Refit revenues remained relatively stable at €22.6 million, aligning with seasonal trends in the industry.

TISG’s order book, comprising both new construction and refit projects, stands at a substantial €1.323 billion. The net backlog, representing the value of contracts for yachts yet to be delivered, amounts to €611.4 million.

The company’s profitability also improved significantly. EBITDA increased by 19% to €32.4 million, resulting in a margin of 17.1%. EBIT rose by 23.5% to €26.8 million, with a corresponding margin of 14.2%. The net result for the period was €29 million, a substantial increase of 113.4% compared to the previous year.

Looking ahead, TISG expects to achieve revenues between €400 million and €420 million in 2024, with an EBITDA margin of 17% to 17.5%. The company remains confident in its ability to maintain its position as a leading player in the luxury yacht market.