High-End Luxury Yachting Remains Resilient
Margin expansion, solid backlog, and confirmed guidance; awaiting a well-deserved rerating
Today, The Italian Sea Group, one of the leading luxury yacht manufacturers, reported its 1H 2024 results followed by an earnings call this afternoon. At the time of writing, the stock closed unchanged.
Let’s jump right in, and unpack the set of results and outlook for the remainder of the year (and on FY25).