Italian Sea Group lowers 2025 guidance on US tariffs, shares down 9.7%
Aug 8 (Reuters) - Shares in The Italian Sea Group TISGR.MI fell as much as 9.7% after the group cut its 2025 revenue and core profit margin forecast on Friday, citing U.S. protectionist trade policies and ongoing geopolitical tension.
The luxury yacht maker now expects 2025 revenue of 350 million euro to 370 million euros ($407.33 million to $430.61 million), down from the 410 million euros to 430 million euros seen in May, it said in a statement.
The group also said it expected its core profit margin for the year to come in the range of 16.5%-17%, down from the previous guidance of 17.5-18%.
The Italian Sea Group's net profit for the first half of the year dropped 58% to 12.2 million euros.
The company added that first-half 2024 net profit benefited from a capital gain on the sale of its Viareggio shipyard.
($1 = 0.8593 euros)
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