Italian yacht manufacturer Sanlorenzo has announced impressive financial results for the first three quarters of 2024, highlighting a growing order backlog that has reached €1.72 billion, a record high for the company.
In the first nine months of the year, Sanlorenzo reported net revenues from new yacht sales totalling €669 million, marking a 6.9% increase from €626 million in the same timeframe last year. This growth is primarily driven by the superyacht sector, which experienced a substantial 15.4% rise in revenue, while the yacht and Bluegame segments showed steady performance with more modest gains.
The company's net profit climbed to €72.9 million, reflecting a 9% increase from €66.9 million in 2023, resulting in a profit margin of 10.9%. Sanlorenzo also made strategic organic net investments of €27.8 million aimed at enhancing production capabilities and developing new models. When accounting for acquisitions, total net investments amounted to €162.1 million.
The group’s gross order book expanded by €355 million in the third quarter alone, benefiting from 90% of orders being sold directly to end clients. With substantial bookings already in place, over 94% of the company's revenue guidance for new yacht sales is covered for the current year, while €844 million is secured for subsequent years. The net backlog is strong at €1.05 billion, providing a coverage ratio that surpasses 1.1 times the guidance for new yacht revenues in 2024.
Regionally, Sanlorenzo has seen remarkable growth in the Americas, where revenues surged 39%, complemented by an 80% increase in the MEA region. The APAC area also reported a 17% rise, while European revenues experienced a 9% decline, largely due to high comparative figures from the previous year.
EBITDA for the period rose to €123.6 million, representing an 8.6% increase from last year’s €113.8 million, translating to an 18.5% margin on new yacht revenues. EBIT was reported at €97.5 million, up 6.8% from the prior year, with a margin of 14.6%.
As of September 30, 2024, Sanlorenzo's net cash position stood at €27.2 million, influenced by dividend distributions and one-time cash flows linked to recent acquisitions.
In August 2024, the company completed the acquisition of Nautor Swan Group, broadening its portfolio to encompass 13 entities across seven countries. This strategic move aims to foster synergies in technology, production, and marketing, enhancing the company’s presence in both the motor and sailing yacht markets.
Sanlorenzo's chairman and CEO, Massimo Perotti, remarked, "The results from the first nine months reaffirm the strength of our group, which continues to thrive in challenging conditions due to our well-balanced and meticulously crafted strategy."
He further noted that with a net backlog exceeding €1 billion, of which 90% is sold to end clients, the company is insulated from the fluctuations typical in the distribution networks of competitors dealing with lower-tier products. Perotti underscored the importance of substantial investments in direct distribution channels, reinforcing Sanlorenzo's global footprint while creating operational efficiencies.
He described the company’s approach as rooted in "desirability, scarcity, and genuine sustainable luxury," with a focus on "innovation that honors tradition and aspires to unparalleled quality."
Sanlorenzo has confirmed its forecast for 2024, anticipating strong results across all financial metrics – revenues, EBITDA, EBIT, net profit, and investments – anchored by a solid order backlog that meets more than 90% of the year's revenue projections.
The company has updated its estimates for its net financial position at year-end, now projected to be between €110 million and €120 million.
Sanlorenzo was founded in 1958 in Viareggio by yacht builder Gionvanni Jannetti. In 2005, Massimo Perrotti became the majority shareholder in the shipyard. Sanlorenzo builds yachts ranging from 28.60 to 73 meters in length.
Credits: Sanlorenzo
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August 27, 2025
The 82-meter Oceanco motor yacht Alfa Nero has been listed for sale at €88.5 million through Northrop & Johnson. Broker Richard Higgins holds the exclusive listing for the vessel, which was delivered in 2007 and underwent comprehensive refitting in 2024.Designed by Nuvolari Lenard with interiors by Alberto Pinto, the yacht features Art Deco elements combined with contemporary aesthetics. Notable features include an aft infinity pool with glass waterfall sides and a convertible floor that rises to form a flush entertainment area. The pool system was among the first of its kind in yacht design.Accommodations include six staterooms for 12 guests connected by glass elevators. The master suite occupies the upper deck forward section with private office, marble bathroom, and hot tub-equipped terrace. Additional amenities comprise a spa, sauna, steam room, cinema, and beauty salon.Technical specifications include twin MTU engines providing 18-knot cruising speed and 20-knot maximum speed. The yacht carries a Vanquish VQ45 chase boat and extensive water toys including jet skis, seabobs, and a jellyfish-protected sea pool.The steel-hulled vessel offers 1,250 square meters of living space across multiple decks. Alfa Nero remains one of the most recognizable superyachts in global waters following its 2024 refit, which updated systems while maintaining its original design integrity.Oceanco was founded in 1987. Right now it is a world-class builder of custom superyachts up to the 140 meters range. Oceanco works with world-known designers such as Terence Disdale, Nuvolari-Lenard, Espen Oeino, Sam Sorgiovanni, Igor Lobanov, Tim Heywood and Andrew Winch to create some of the timeless and award-winning yachts afloat today.Credits: Northrop & Johnson
August 26, 2025
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August 26, 2025
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August 26, 2025
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August 26, 2025