The Italian Sea Group shares fell up to 9.7% on Friday after the group lowered its revenue forecast for 2025 and core profit margins, citing U.S. trade policies that are protectionist and geopolitical tensions.

In a recent statement, the luxury yacht manufacturer said that it now expects revenues of between 350 and 370 million euro ($407,33 million to $430.61million) in 2025. This is down from 410 to 430 millions euros in May.

The group said that it also expected its core profit margin to be in the range 16.5%-17% for the year, down from previous guidance of 17.5%-18%.

Italian Sea Group’s net profit in the first half of this year fell 58% to 12,2 million euros.

The company said that the first-half net profit of 2024 was boosted by a capital gain from the sale its Viareggio Shipyard.

(source: Reuters)