Sanlorenzo S.p.A. announced consolidated financial results for the first half of 2025, reporting €454.1 million in net revenues from new yacht sales, representing a 9.4% increase compared to H1 2024. EBITDA reached €80.5 million, an 8.5% year-over-year increase. The company maintained a robust order backlog of €1.44 billion, with 93% of orders already sold to final clients.Chairman and CEO Massimo Perotti stated: "The first half of 2025 reflects the resilience of Sanlorenzo, the strength of our brand, and the timeless desirability of our yachts. Even in a global environment marked by trade tariff uncertainty and broader macroeconomic pressures, we have delivered stability and measured growth."Order intake increased 29.9% to €419.5 million, driven particularly by strong demand for yachts exceeding 30 meters. The net backlog stood at €985.2 million as of June 30, 2025, providing approximately one year of revenue visibility.Regional performance showed Europe accounting for 58.8% of revenues (€267.1 million, +15.4% YoY), Americas contributing 21% (€95.3 million, +38.6% YoY), APAC at 12% (€54.4 million, +5.8% YoY), and MEA representing 8.2% (€37.3 million, -41.3% YoY).Division performance varied: Superyacht Division revenues increased 10.2% to €137.1 million, while Yacht Division declined 6.6% to €225.8 million primarily due to market conditions below 30 meters. Bluegame Division decreased 10.9% to €43.6 million, and Nautor Swan Division contributed €47.5 million since its 2024 acquisition.The company reported net profit of €46.6 million, a 7.0% increase from H1 2024. Net working capital remained positive at €86.6 million, though inventories increased to €186.7 million due to production ramp-up and distribution hub expansion.Sanlorenzo confirmed its 2025 financial guidance, citing strong product pipeline including three new yacht debuts at the Cannes Yachting Festival and the upcoming delivery of the 74Steel model. The company continues to focus on yachts under 2,000 GT where it believes the risk-return profile remains most favorable.Sustainability initiatives progress includes development of bi-fuel green methanol propulsion technology, though the launch timeline for the 50 X-Space project has been adjusted to align with expected infrastructure availability toward the end of the decade.The company maintains its net financial position with €8.3 million net debt as of June 30, 2025, following dividend payments of €34.7 million and €11.1 million share buyback program execution during the period.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
September 5, 2025