Strong financial report from The Italian Sea Group with doubling of net sales

Written by Francesca Webster

The Italian Sea Group has reported doubling of net sales in a financial report for 2021, now approved by its board of directors. The Group, which owns Tecnomar, NCA Refit and Admiral, has recorded very impressive sales with a 110% increase to its EBITDA (earnings before interest, taxes, depreciation, and amortisation). The Italian Sea Group company photoPhoto: The Italian Sea GroupAmong the array of numbers in the report, are €80.9 million of net sales compared to €40.6 million in the first half of 2021 compared to the first half of 2020. With a net profit of €4.6 million compared to €1 million and a positive financial position of €22.3 million as of 30th June 2021, compared to a negative debt of €8.3 million at the end of 2020.

The Italian Sea Group company photoPhoto: The Italian Sea GroupThe total value of active contracts yet to be delivered is now equal to €452.5 million and there are 10 new contracts compared to the comparative period in 2020. The Group currently has 19 yachts under construction, including some in the superyacht division.The Italian Sea Group company photoPhoto: The Italian Sea GroupGiovanni Constantino, Founder and CEO of The Italian Sea Group, commented, “We close the first six months of 2021 with healthy financial results… All of this has been possible thanks to a high-end market position, as shown by the focus on yachts up to 100-metres in length, at the same time leveraging on collaboration agreements with prestigious brands such as Automobili Lamborghini and Giorgio Armani.”

Tecnomar for Lamborghini 63 yacht anchored
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