The Italian Sea Group: protective measures confirmed, stock continues to recover on the market

The Court of Florence has ordered the confirmation of the protective measures requested by The Italian Sea Group as part of the negotiated crisis composition procedure launched on March 16. The measure, which also involves GC Holding S.p.A. and Celi S.r.l., will remain in place for a maximum period of four months starting from the opening of the procedure.

According to the company, the Court acknowledged the conditions for granting the request, with particular reference to the “reasonable prospect of recovery”, also in light of the industrial and financial initiatives outlined by the Group. This step allows the restructuring process to continue within a more stable legal framework.

In detail, the erga omnes protective measures temporarily prevent creditors from undertaking key actions, including the initiation or continuation of enforcement and precautionary measures against the company’s assets – including yachts currently under construction in the shipyards – as well as the acquisition of non-agreed preferential rights. The possibility of initiating judicial liquidation proceedings or insolvency declarations is also suspended.

A relevant aspect concerns the extension of protections to shipowners, preventing them from terminating ongoing shipbuilding contracts. This measure contributes to safeguarding order continuity and, more broadly, the Group’s industrial operations.

The ruling therefore allows The Italian Sea Group to continue its business on a going-concern basis and to maintain dialogue with key stakeholders – clients, suppliers and financial institutions – within the restructuring process.

From a market perspective, the stock continues to show a recovery trend in recent sessions. After the +29.01% recorded on April 16, with a closing price of €1.43 – already accelerating compared to the +11.97% of the previous day – the upward movement has continued.

In today’s session, the stock exceeded the €2 threshold, closing at €2.10, with a daily increase of €0.53 (+33.76%). On a weekly basis, over the last five trading days, the cumulative performance stands at +€1.19 (+131.79%).

The recovery comes in a context where the market appears to have reacted positively to recent initiatives on governance and the strengthening of financial controls. As of April 20, Fabio Zanobini will take on the role of Chief Financial Officer, while the Board of Directors has appointed Elena Bocchino as Head of Internal Audit for a one-year term. These measures directly impact internal control systems and the Group’s financial structure.

Despite the short-term rebound, the overall picture remains characterised by a still significantly negative performance on an annual basis, reflecting the critical phase experienced by the Group in recent months.

In this context, the confirmation of the protective measures represents an element of legal and operational stabilisation, while the stock’s performance continues to reflect market expectations regarding the Group’s ability to effectively implement its restructuring plan.

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