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
The second Wallywind110 sailing yacht will premiere at the Cannes Yachting Festival 2025 following private viewings in Sardinia and Monaco. The 33.5-meter vessel represents the sistership to the previously delivered Galma, featuring identical carbon fiber construction with customized interior modifications.Key distinctions from the first hull include a sand-grey hull finish and revised interior layout with flexible cabin configurations. The fourth cabin incorporates convertible bedding that transitions between twin and double arrangements through a sliding mechanism. An office area replaces the bar setup found on the previous vessel.Naval architecture by Judel/Vrolijk & Co. incorporates a telescopic keel adjustable between 4.5 and 6.95 meters depth. The sloop rig configuration utilizes Hall Spars carbon mast and North Sails 3Di sails providing 660 square meters of upwind area. Downwind sail capacity reaches 1,283 square meters.Interior design by Studio Santa Maria Magnolfi features lighter-toned oak cabinetry and reconfigured carbon fiber flooring patterns. The main saloon maintains raised seating with deep hull windows despite the vessel's exterior profile. Accommodations include an owner's suite forward, VIP cabin, and two convertible guest cabins aft.Construction efficiency improved compared to the first hull, with the yard completing the project ahead of schedule. The yacht will be displayed alongside other Ferretti Group products at the festival, which runs from September 9-14. The Wallywind110 remains the largest sailing yacht presented at the 2025 Cannes event.The vessel demonstrates Wally's continued focus on performance cruising yachts combining carbon fiber construction with customizable interior arrangements. The company maintains production facilities in Italy alongside other Ferretti Group brands.The Ferretti Group, led by Chief Executive Officer Alberto Galassi, is now one of the world’s leaders in the construction and sale of luxury yachts and pleasure vessels, with a unique portfolio of brands: Ferretti Yachts, Riva, Pershing, Itama, Mochi Craft, CRN, Custom Line and Wally.Credits: Gilles Martin-Raget/Ferretti Group
September 12, 2025
Sunseeker has presented a new 40-meter model at the Cannes Yachting Festival. The design marks the first collaboration between Sunseeker and Italian designer Francesco Paszkowski.The yacht features a curved superstructure, tapered glazing, and two-tone exterior styling. Key elements include an extended aft deck with multiple lounge areas and a forward plunge pool convertible to seating when drained. Full technical specifications and interior layouts remain undisclosed pending further announcements.Sunseeker CEO Andrea Frabetti stated: "This collaboration embodies our commitment to pushing the boundaries of superyacht design, delivering our clients exceptional craftsmanship, style and innovation."Francesco Paszkowski added: "Together, we aim to create designs that resonate with discerning yacht owners worldwide, combining elegance, performance and comfort."The 40-meter model represents Sunseeker's continued expansion into the larger yacht segment, following previous launches in the 30-35 meter range. The company maintains production facilities in Poole, UK, where construction of the new model will occur alongside existing product lines.Since 1969 Sunseeker Yachts has built composite semi-custom yachts from 12m to 47m. The shipyard's main facility is located in Poole.Credits: Sunseeker
September 12, 2025
Finnish yacht builder Nautor Swan has detailed its development strategy following its acquisition by Sanlorenzo Group in 2024. The company is implementing a €35 million investment program between 2024-2027 focused on facility expansion and product development.Swan 73New infrastructure includes production sites in Brescia and Viareggio, a Milan headquarters, and expanded offices in Monaco, Cannes, the United States, and Palma de Mallorca. The company unveiled two new sailing yachts at Cannes Yachting Festival: the Swan 51 performance cruiser and Swan 73 model, marking the brand's return to the 22-meter segment after two decades.Sanlorenzo Chairman and CEO Massimo Perotti stated: "We are proud to be the custodians of a remarkable legacy, preserving the heritage, craftsmanship, and spirit that define Swan. Swan's future is now enhanced through unprecedented investment and a focused product development strategy."Nautor Swan CEO Giovanni Pomati added: "We are moving forward with great speed, strengthening Swan's product portfolio and securing our heritage while preparing the brand for strong international growth."Swan 51The expansion strategy includes strengthened North American presence with a potential operations site in Pensacola, Florida, and a confirmed ClubSwan 28 racing calendar for Newport and Pensacola in 2026. Globally, the company leverages Sanlorenzo's distribution network with new sales points in Newport, Fort Lauderdale, Mediterranean locations, and Asia-Pacific markets.Swan 55The Swan 51 represents the smallest model in the performance cruiser line, incorporating design experience from over 70 yachts between 14.6 and 16.8 meters built since 2019. The Swan 73, designed by German Frers, returns the brand to the 22-meter sailing yacht segment after 20 years.The company maintains six product lines across sailing and motor yacht categories, with continued emphasis on owner services including brokerage, charter operations, and global support networks. The ClubSwan organization continues coordinating racing events and owner gatherings worldwide, with expanded events planned following the Sanlorenzo investment.Credits: Nautor Swan
September 12, 2025
Greenline Yachts has revealed development of a new 12.8-meter model scheduled for launch in early 2026. The Greenline 42 will feature updated hull design by Micad enabling 30-knot maximum speed while maintaining twin 250hp standard propulsion.The design incorporates four additional solar panels on the coach roof, bringing total capacity to 4.1kW for hotel load operation and battery charging. The proprietary H-Drive 6G system manages hybrid functionality including silent electric maneuvering capabilities.Exterior and interior styling comes from Marco Casali, offering three interior themes based on honey teak or modern oak materials. Layout options include customizable cabin configurations, wardrobe arrangements, and bathroom facilities. The saloon features full-glass aft openings connecting to cockpit areas.CEO Vladimir Zinchenko stated: "When we do finally introduce a new boat, it is therefore no light decision. You can be sure that the new Greenline 42 has absorbed every inch of our know-how and will provide a reference in the market for decades to come."Designer Marco Casali noted the challenge of modernizing Greenline's established aesthetic while maintaining brand identity. The exterior profile connects design elements from larger Greenline models like the 58-foot version while incorporating contemporary features.The yacht will offer two distinct cockpit layouts with removable furniture options and improved foredeck lounge space. Technical enhancements include sliding galley windows for ventilation and helm station climate controls. The model represents Greenline's most customizable production to date according to company statements.Greenline continues production at its Slovenian facility, with the new model slotting between existing offerings in the brand's range. The company emphasizes sustainable materials and energy efficiency across its product lines, with the Greenline 42 continuing this approach through solar supplementation and hybrid propulsion options.Greenline Yachts are crafted in Slovenia within the European Union. The shipyard adheres to the highest European quality standards and reduces environmental footprint, prioritizes the use of local materials and expertise. The craftsmanship is rooted in more than 50 years of experience in composite boatbuilding. Credits: Greenline Yachts
September 12, 2025
Denison Yachting and OneWater Yacht Group have finalized a merger creating what they describe as the world's largest yacht firm. The combined entity will operate under the Denison Yachting brand with existing leadership from both organizations. The merger establishes a network of 23 offices across the United States and Europe.The expanded portfolio now includes representation of Absolute Yachts, HCB, Riviera, Prestige, and Belize Yachts. Denison becomes the largest Sunseeker dealer globally through the transaction. The combined company will list over 800 yachts with 180 brokers facilitating transactions.Denison Yachting President Bob Denison stated: "By joining with OneWater Yacht Group, we're bringing together two of the strongest teams in the industry. Our clients will benefit from more boats to choose from, the best marketing and technology, and a full-service approach that makes yacht ownership simpler."OneWater Yacht Group President Bryan Braley added: "By combining Denison's unmatched expertise in brokerage and charter with their industry leading marketing, we are creating the most comprehensive and customer-focused yachting company."The publicly-traded entity will continue offering new yacht sales, brokerage, charter services, management, crew placement, and after-sales support. Company representatives will provide additional details during the Monaco Yacht Show from September 24-27, with a press presentation scheduled for September 25.Denison Yachting maintains operations from waterfront offices with licensed brokers providing services including superyacht sales and new construction. The company traces its origins to Broward Marine established in Fort Lauderdale in 1948. The merger significantly expands the company's manufacturer representation and brokerage inventory across multiple market segments.Credits: Denison Yachting
September 11, 2025