Informazione
Regolamentata n.
2378-70-2026Data/Ora Inizio Diffusione 4 Agosto 2026 19:21:59Euronext Milan
Societa' :THE ITALIAN SEA GROUP
Utenza - referente :ITALIANSEAGROUPN07 - Filippi Enrico
Tipologia :REGEM
Data/Ora Ricezione :4 Agosto 2026 19:21:59 Data/Ora Inizio Diffusione :4 Agosto 2026 19:21:59 Oggetto :Report on the Company’s Assets, Financial Position and Results of Operations as at 30 June 2026 filed pursuant to Article 44, Paragraph 1, Letter c) of the Italian CCII Testo del comunicato
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PRESS RE LEASE
THE ITALIAN SEA GROUP S. P.A.
REPORT ON THE COMPANY’S ASSETS, FINANCIAL POSITION AND
RESULTS OF OPERATIONS AS AT 30 JUNE 2026 FILED PURSUANT TO
ARTICLE 44, PARAGRAPH 1, LETTER C) OF THE ITALIAN CCII
Preliminary management figures, unaudited
Marina di Carrara, Carrara, August 4 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 first report on its assets, financial position and results of operations as at 30 June 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 30 June 2026 are compared with the provisional figures as at 30 April 2026, which were used for the purposes of filing the petition, and with 31 December 2025 .
SITUAZIONE PATRIMONIALE – FINANZIARIA TISG SpA
migliaia di euro 30/06/2026 30/04/2026 31/12/2025
ASSETS
NON CURRENT ASSETS
Brands 12,675 4,183 12,698 Other intangible assets 236 270 336 Land and buildings 148,947 145,804 146,897 Plants, machinery, equipment, and investment in progress 21,250 27,162 26,028 Other tangible assets 876 910 977 Right of Use 7,587 7,826 8,311 Equity investments 377 377 377 Other non -current assets 1,288 3,086 2,399 Deferred tax assets 0 0 0 Total non -current assets 193,236 189,618 198,022
CURRENT ASSETS
Cash and Cash Equivalents 2,631 12,520 15,906 Trade receivables 16,616 21,272 21,860 Other receivables 5,726 4,273 1,245 Assets from contract work in progress 1,308 4,512 1,234 Inventories 11,351 17,560 20,159 Other current assets 5,034 1,527 2,101 Total current assets 42,666 61,664 62,505
TOTAL ASSETS
235,902 251,282 260,527
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migliaia di euro 30/06/2026 30/04/2026 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) (454,446) (290,668) Profit (loss) for the year (15,814) (16,700) (157,773) Total Shareholders’ Equity (392,325) (399,215) (376,510)
NON -CURRENT LIABILITIES
Provisions for risks and charges 71,386 73,543 81,034 Deferred tax liabilities 16,425 16,123 16,123 Provisions for employee benefits 590 981 600 Long -term financial liabilities 34,528 143,687 10,177 Other non -current liabilities 0 0 0 Total non -current liabilities 122,928 234,334 107,934
CURRENT LIABILITIES
Trade payables 180,488 190,174 180,787 Other payables 30,938 42,203 37,199 Short -term financial Liabilities 149,446 26,470 136,787 Liabilities from contract work in progress 137,635 150,995 166,616 Other current liabilities 6,791 6,321 7,715 Total current liabilities 505,298 416,163 529,104
TOTAL LIABILITIES AND SHAREHOLDERS’
EQUITY 235,902 251,282 260,527
TISG S.P.A. – INCOME STATEMENT BY NATURE OF EXPENSE
In EUR thousands 30/06/2026 30/04/2026 Operating Revenues 57,943 38,073 Other Revenues and income 13,468 8,453 Commissions (200) (200) Total Revenues 71,211 46,326 Costs for Raw Material (14,003) (9,574) Costs for outsourced work (13,105) (11,753) Technical services and consultancy (23,278) (20,737) Other costs for services (5,476) (403) Personnel Costs (16,012) (10,634) Other operating costs (17,312) (4,680) Total Operat ing Costs (89,184) (57,781)
EBITDA (17,973) (11,455)
D&A (7,338) (3,087)
EBIT (25,312) (14,542)
Financial Income 3 3 Financial Charges (5,181) (2,157) Earnings Before Taxes (30,489) (16,696) Taxes for the period 14,675 (4) Net Income (Loss) (15,814) (16,700)
The management reclassified income statement presented below reports, below EBITDA, extraordinary income and expense items amounting to an overall net expense of Euro 9.5 million, mainly relating to the effects of agreements entered into with suppliers as part of the negotiated settlement procedure and to costs accrued and expected to be incurred in connection with the Company’s restructuring .
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TISG S.P.A. – MANAGEMENT RECLASSIFIED INCOME STATEMENT
In EUR tho usands 30/06/2026 Operating Revenues 57,943 Other Revenues and income 3,414
Commissions (200)
Total Revenues 61,157 Costs for Raw Material (14,003) Costs for outsourced work (13,105) Technical services and consultancy (17,927) Other costs for services (5,513) Personnel Costs (16,012) Other operating costs (2,930) Total Operat ing Costs (8,333)
EBITDA (7,472)
D&A (15,805)
EBIT (5,178)
Financial Income (9,506) Financial Charges (30,488) Earnings Before Taxes 14,675 Taxes for the period (15,814)
It should be noted that, as at 30 June 2026, all amounts due to banks in respect of long -
term loans were reclassified as current financial liabilities, in accordance with International Financial Reporting Standards, following the non -payment of instalments and in light of the ongoing moratorium and standstill arrangements. The loss for the period was affected by tax income of approximately Euro 15 million recognised following the filing of amended IRES and IRAP tax returns for the 2024 financial year
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 ;
• the financial position as at 30 June 2026 covers the same reporting period as the half-year financial report as at 30 June 2026, which is still being prepared and will be subject to the prescribed verification procedures and limited review. The figures to be published in the half -year financial report may differ, including materially, from those set out above, as they may be subject to adjustments, additions and reclassifications following completion of the ongoing verification and review procedures, also i n light of the
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complexity of the estimates relating to contracts in progress, impairment tests, provisions for risks and charges, and tax and social security liabilities ;
• with regard to the comparative figures, the figures as at 31 December 2025 are currently subject to statutory audit and approval by the Shareholders’ Meeting, while the figures relating to the provisional financial position as at 30 April 2026 are subject to statutory audit ;
• 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 extraordinary 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.2378-70-2026 Numero di Pagine: 7