Ending 2024 on a high note, The Italian Sea Group (TISG) recorded a revenue of €404.4 million, marking an 11% increase from the previous year. This growth was largely fueled by new yacht construction, especially in larger size categories, while refit operations remained consistent.

CEO Giovanni Costantino highlighted the company’s ability to navigate economic and geopolitical challenges, emphasizing its adaptability and resilience.

TISG reported an EBITDA of €70.3 million in 2024, a 13.5% increase from 2023, with a 17.4% EBITDA margin. Net income reached €33.8 million.

The company invested €9 million and paid €19.6 million in dividends, leading to a negative cash position of €(12.5 million), compared to a €1.5 million surplus in 2023. This was mainly due to payments for the Viareggio facility sale and state-owned concession fees. Despite this, TISG maintained a positive short-term net financial position of €47.6 million at year-end.

By the end of 2024, TISG’s order book reached €1.24 billion, with yacht deliveries scheduled through 2026. Looking ahead, TISG remains focused on sustainable growth, with revenue projections set between €410 million and €430 million for 2025.