Informazione
Regolamentata n.
2378-110-2026Data/Ora Inizio Diffusione 5 Ottobre 2026 18:56:00Euronext Milan
Societa' :THE ITALIAN SEA GROUP
Utenza - referente :ITALIANSEAGROUPN07 - Filippi Enrico
Tipologia :REGEM
Data/Ora Ricezione :5 Ottobre 2026 18:56:00 Data/Ora Inizio Diffusione :5 Ottobre 2026 18:56:00
Oggetto :REPORT ON THE COMPANY’S ASSETS,
FINANCIAL POSITION AND RESULTS OF
OPERATIONS AS AT 31 AUGUST 2026 FILED
PURSUANT TO ARTICLE 44, PARAGRAPH 1,
LETTER C) OF THE ITALIAN CCII
Testo del comunicato
Vedi allegato
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PRESS RELEASE
THE ITALIAN SEA GROUP S. P.A.
REPORT ON THE COMPANY’S ASSETS, FINANCIAL POSITION AND
RESULTS OF OPERATIONS AS AT 3 1 AUGUST 2026 FILED PURSUANT
TO ARTICLE 44, PARAGRAPH 1, LETTER C) OF THE ITALIAN CCII
Preliminary management figures, unaudited
Marina di Carrara, Carrara, October 5 2026 – The Italian Sea Group S.p.A. (“TISG ” or the “Company ”) announces that it filed with the electronic docket of the proceedings pending before the Court of Florence, Fifth Civil Division (Case No. 222/2026), the report on its assets, financial position and results of operations as at 3 1 August 2026. The report was filed in compliance with the monthly reporting obligation imposed by the Court’s order dated 3 July 2026 pursuant to Article 44, paragraph 1, letter c), of CCII , following the petition filed by the Company on 1 July 2026. The report has been prepared in accordance with IFRS and is preliminary and management -based in nature.
The figures as at 3 1 August 2026 are compared with the provisional figures as at 3 1 July 2026 and with 31 December 2025 .
SITUAZIONE PATRIMONIALE – FINANZIARIA TISG SpA
Euro thousand 31/08/2026 31/07/2026 31/12/2025
ASSETS
NON CURRENT ASSETS
Brands 12,668 12,671 12,698 Other intangible assets 203 220 336 Land and buildings 146,601 147,023 146,897 Plants, machinery, equipment, and investment in progress 20,661 20,955 26,028 Other tangible assets 845 860 977 Right of Use 8,850 8,970 8,311 Equity investments 343 377 377 Other non -current assets 1,545 1,346 2,399 Deferred tax assets 0 0 0 Total non -current assets 191,716 192,422 198,022
CURRENT ASSETS
Cash and Cash Equivalents 2,852 5,277 15,906 Trade receivables 19,432 16,281 21,860 Other receivables 5,067 5,192 1,245 Assets from contract work in progress 814 0 1,234 Inventories 9,390 9,390 20,159 Other current assets 4,521 4,933 2,101 Total current assets 42,077 41,074 62,505
TOTAL ASSETS
233,793 233,496 260,527
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Euro thousand 31/08/2026 31/07/2026 31/12/2025
LIABILITIES AND SHAREHOLDERS' EQUITY
SHAREHOLDERS' EQUITY
Share capital 26,500 26,500 26,500 Share premium reserve 45,431 45,431 45,431 Other reserves and retained earnings (448,442) (448,442) (290,668) Profit (loss) for the year (46,140) (25,591) (157,773) Total Shareholders’ Equity (422 ,651) (402 ,102) (376 ,510)
NON -CURRENT LIABILITIES
Provisions for risks and charges 73,004 70,981 81,034 Deferred tax liabilities 17,102 17,102 16,123 Provisions for employee benefits 771 686 600 Long -term financial liabilities 34,369 34,448 10,177 Other non -current liabilities 0 0 0 Total non -current liabilities 125,246 123,217 107,934
CURRENT LIABILITIES
Trade payables 207,596 188,210 180,787 Other payables 32,538 32,282 37,199 Short -term financial Liabilities 150,647 150,086 136,787 Liabilities from contract work in progress 134,579 134,969 166,616 Other current liabilities 5,838 6,834 7,715 Total current liabilities 531,199 512,381 529,104
TOTAL LIABILITIES AND SHAREHOLDERS’
EQUITY 233,793 233,496 260,527
TISG S.P.A. – INCOME STATEMENT BY NATURE OF EXPENSE
In EUR thousands 31/08/2026 31/07/2026 Operating Revenues 64,749 64,120 Other Revenues and income 4,693 13,926 Commissions (200) (200) Total Revenues 69,243 77,846 Costs for Raw Material (17,205) (17,469) Costs for outsourced work (15,454) (15,328) Technical services and consultancy (27,928) (26,715) Other costs for services (6,406) (6,138) Personnel Costs (20,217) (18,168) Other operating costs (26,503) (19,496) Total Operating Costs (113 ,713) (103,315)
EBITDA (44,470) (25,469)
D&A (9,116) (8,210)
EBIT (53,586) (33,679)
Financial Income 4 3 Financial Charges (6,557) (5,915) Earnings Before Taxes (60,139) (39,590) Taxes for the period 13,999 13,999 Net Income (Loss) (46,140) (25,591)
The management -reclassified income statement presented below reports, below EBITDA, non -recurring income and expense items with an overall negative impact of Euro 26 million. These items mainly relate to charges arising from the recognition of supplier inv oices issued without a corresponding purchase order or not pertaining to FY 2026, as well as to intercompany positions with the subsidiary TISG Turkey. They also include costs accrued and expected to be incurred in connection with the Company’s
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restructuring and turnaround process, primarily relating to legal and financial advisory services .
TISG S.P.A. – MANAGEMENT RECLASSIFIED INCOME STATEMENT
In EUR thousands 31/08/2026 31/07/2026 Operating Revenues 64,749 64,120 Other Revenues and income 3,769 3,681 Commissions (200) (200) Total Revenues 68,319 67,602 Costs for Raw Material (17,205) (17,469) Costs for outsourced work (15,454) (15,328) Technical services and consultancy (21,913) (20,700) Other costs for services (6,444) (6,176) Personnel Costs (20,217) (18,168) Other operating costs (3,038) (3,014)
EBITDA (15,952) (13,253)
D&A (11,719) (8,444)
EBIT (27,671) (21,696)
Financial Income / (Charges) (6,553) (5,911) Non-recurring income and expenses (25,915) (11,982)
EBT (60,139) (39,590)
Taxes for the period 13,999 13,999 Net Result (46,140) (25,591)
It should be noted that, as at 31 August 2026, all amounts due to banks in respect of long -
term loans were reclassified, in accordance with international accounting standards, as current financial liabilities, following the non -payment of scheduled instalm ents and in light of the ongoing moratorium and standstill arrangements.
The loss for the period increased compared with the previous month, mainly due to: (i) the recognition of approximately Euro 2.7 million in interest and penalties relating to unpaid tax and social security liabilities, as well as other taxes relating to pr ior years that were either unpaid or paid late, in connection with tax collection notices already issued or expected to be issued; (ii) an adverse impact of approximately Euro 7 million arising from the reversal of previously agreed write -offs of trade pay ables and receivables negotiated with suppliers under the agreements entered into during the Negotiated Crisis Settlement Procedure, which are no longer effective following the Company’s filing pursuant to Article 44 of the Italian Crisis and Insolvency Co de (CCII); and (iii) approximately Euro 7 million of additional charges relating to intercompany positions with the subsidiary TISG Turkey .
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DISCLAIMER – DATA UNAUDITED
The following matters should be noted :
• the data set out above are preliminary management figures prepared solely for the purposes of the periodic reporting required to be filed in connection with the proceedings pursuant to Article 44 of the Italian Crisis and Insolvency Code. Such data have no t been subject to a statutory audit or a limited review by the independent auditors ;
• this announcement does not constitute, nor does it replace, the annual financial statements, the half -year financial report or any other financial disclosure subject to approval or audit under the applicable laws and regulations ;
• the data are being disclosed solely as a result of the obligation to file the report imposed by the order of the Court of Florence dated 3 July 2026 pursuant to Article 44, paragraph 1, letter c), of the Italian Crisis and Insolvency Code, the consequent f iling of the report with the Companies Register as required under the same provision, and in order to ensure equal access to information by the market pursuant to Article 17 of Regulation (EU) No. 596/2014. In the absence of such obligation, the Company wo uld not have disclosed unaudited interim financial information prior to the publication of the half -year financial report in accordance with the financial calendar disclosed to the market .
The press release is available in the Investor section of the Company’s website https://investor.theitalianseagroup.com/en/press -releases/ .
This document is an English translation from Italian. The Italian original shall prevail in case of differences in interpretation and/or factual errors
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The Manager responsible for preparing the Company’s financial reports, Mr Fabio Zanobini, declares, pursuant to Article 154 -bis, paragraph 2, of the TUF, that the information contained in this press release corresponds to the documented results, books and accounting records .
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The Italian Sea Group is a global operator in luxury yachting, listed on Euronext Milan (“EXM”) and active in the construction and refit of motor yachts and sailing yachts up to 140 metres. The Company, led by Italian entrepreneur Giovanni Costantino, operates on the market wi th the brands Admiral , renown ed for elegant and prestigious yachts, Tecnomar , known for its sporty features, cutting -edge design and high performance, Perini Navi , excellence in the design and construction of large sailing yachts, and Picchiotti , historical brand in the Italian yachting industry featuring classic and elegant lines. The Company also has a business unit named NCA Refit that manages the maintenance and refit services for yachts over 60 metres. In line with its strategic positioning, The Italian Sea Group has partnered with important Italian luxury brands like Automobili Lamborghini – to design and produce “Tecnomar for Lamborghini 63”, a limited -edition motor yacht featuring extraordinar y performance and quality beyond limits. According to the Global Order Book 2024, international ranking by Boat International, The Italian Sea Group is the first Italian superyacht builder for yachts over 50 metres.
For further information:
Image Building
Tel. +39 02 89011300 / +39 06 68392100
E-mail: theitalianseagroup@imagebuilding.it
Investor Relations
The Italian Sea Group Tel. +39 0585 5062
E-mail: investor.relations@theitalianseagroup.com
Fine Comunicato n.2378-110-2026 Numero di Pagine: 7