Shares in The Italian Sea Group fell as much as 9.7 per cent after the group cut its 2025 revenue and core profit margin forecast on Friday, citing US protectionist trade policies and ongoing geopolitical tension.
The luxury yacht maker now expects 2025 revenue of €350 million to €370 million ($407.33 million to $430.61 million), down from the €410 million to €430 million 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 per cent, down from the previous guidance of 17.5-18 per cent.
The Italian Sea Group's net profit for the first half of the year dropped 58 per cent to €12.2 million.
The company added that first-half 2024 net profit benefited from a capital gain on the sale of its Viareggio shipyard.
(Reporting by Philippe Leroy Beaulieu in Gdansk, editing by Gianluca Semeraro and Louise Heavens)