Italian classification society RINA is plotting a big jump in revenue as part of a fresh strategic plan under its new chief executive.

Long-standing boss Ugo Salerno stepped down this year and was replaced by Carlo Luzzatto.

Revenue in 2023 hit €797m ($864m), up 10% year on year, but the company wants to reach €2bn by 2030, while increasing Ebitda by 20%.

The Genoa group also plans to have 10,000 staff in six years, up from 5,800 now.

Net profit was stable at €12.5m in 2023, the class society added.

Growth will be helped by an unspecified cash injection provided by new shareholder Fondo Italiano d’Investimento, which has committed to acquiring a 33% stake.

At the end of the first quarter this year, RINA had a new order intake of €310m, in line with a year ago.

Revenue was up 17% year on year at €210m to 31 March.

Luzzatto brings 30 years of experience from the energy, aerospace and infrastructure sectors.

New tech brought to bear

He has held senior leadership positions in Italy and internationally with public and private companies, including General Electric and Ansaldo Energia, and most recently with Parma construction and engineering firm Impresa Pizzarotti.

The new CEO said: “I’m delighted to have joined such an extraordinary team and humbled by the opportunity to lead my colleagues into the next growth cycle of RINA.”

RINA’s commitment to innovation was recently boosted by the launch of its AI Factory, he added.

“The newly formed team of professionals will drive breakthrough developments of our services, enabling our customers to better read and anticipate the evolving and often challenging dynamics of the industries in which they operate and, therefore, succeed in achieving their business goals,” he said.

The group has already begun concentrating on opportunities that could fuel extra revenue streams.

It is expanding its presence in international markets, with a renewed focus on the US, the UK, Latin America and the Middle East, while continuing to invest in India and Asia, and reaffirming its leading position in Italy.