(Alliance News) - Italian Sea Group Spa on Thursday approved consolidated financial statements as of December 31, 2023, closing with a net profit of EUR36.9 million, up 54 percent from EUR24.0 million in fiscal 2022.

The board proposed a dividend of EUR0.37 per share compared to EUR0.27 in the previous year.

Consolidated results show total revenues of EUR364.5 million, up 24 percent from EUR294.6 million recorded in 2022.

The total value of the order book-that is, the gross value of outstanding contracts for new yachts not yet delivered to customers-as of December 31, 2023 is EUR1.26 billion.

Ebitda was EUR61.9 million, an increase of 32% from EUR47.0 million as of December 31, 2022 and with an Ebitda argin of 17.0% compared to 15.9% in the previous year.

Ebit as of December 31, 2023 was EUR50.5 million - a 35 percent increase from the previous year-end of EUR37.0 million - with

13.8 percent as a percentage of total revenues.

NFP as of December 31, 2023 is positive EUR1.6 million compared to negative EUR11.3 million as of December 31, 2022.

The group's growth targets include revenues between EUR400-420 million with an Ebitda margin between 17-17.5 percent in 2024. Also, revenues between EUR430-450 million with Ebitda margin between 18-18.5 percent in 2025.

Italian Sea Group on Thursday trades in the green by 0.6 percent at EUR10.44 per share.

By Maurizio Carta, Alliance News reporter

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