The Board of Directors of Sanlorenzo S.p.A., chaired by Mr. Massimo Perotti, convened to review and approve the preliminary consolidated results as of December 31, 2024.
Key highlights include:
Financial Performance
Net Revenues from New Yachts ("Net Revenues New Yachts") reached €930.4 million, an increase of 10.7% compared to €840.2 million in 2023. This growth was driven by the excellent performance of the Superyacht Division (+17.6% YoY) and the stabilization of the Yacht Division (+1.8% YoY).
EBITDA increased by 12.0% to €176.4 million, with a margin of 19.0% on revenues.
Operating Profit (EBIT) grew by 10.6% to €139.3 million, with a margin of 15.0% on revenues.
Operational Performance
Investments totaled €49.3 million, largely directed towards expanding industrial capacity and developing new models and product lines. Following the inclusion of Nautor Swan and Simpson Marine, total investments for the period reached €188.1 million.
Net Cash Position stood at €29.1 million post dividend payments of €34.8 million, organic investments of €49.3 million, and other operational expenses. Excluding extraordinary transactions, the net cash position would have been €112.8 million.
Order Book and Sales:
Q4 2024 Orders amounted to €230.2 million, a 22.0% increase over the same period in 2023. The total backlog stood at €1,019.8 billion, with €623.1 million allocated to 2025.
Strategic Initiatives
The company continued to enhance its international footprint via direct representation in key regions, exemplified by the acquisition of 95% of the Simpson Marine Group in March 2024.
In August 2024, Sanlorenzo signed a binding agreement to acquire 100% of Nautor Swan, which had already contributed €38.3 million over five months.
Technological advancements were also notable, with the launch of three yachts showcasing innovative sustainable technologies.
Massimo Perotti, Executive Chairman of Sanlorenzo, stated: "Our solid growth trajectory, confirmed by achieving results both in terms of revenues and margins, highlights the effectiveness of our 'Haute Couture' business model and the ability of our team to successfully navigate global markets and close valuable acquisitions, even in uncertain times like 2024. We are steadily pursuing the Group’s long-term vision and executing the strategic objectives set out in our business plan, while maintaining a solid financial position and liquidity that allow us to evaluate and seize every opportunity to further strengthen our brands."
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 Board of Directors of Sanlorenzo S.p.A., chaired by Mr. Massimo Perotti, convened to review and approve the preliminary consolidated results as of December 31, 2024. Key highlights include:Financial PerformanceNet Revenues from New Yachts ("Net Revenues New Yachts") reached €930.4 million, an increase of 10.7% compared to €840.2 million in 2023. This growth was driven by the excellent performance of the Superyacht Division (+17.6% YoY) and the stabilization of the Yacht Division (+1.8% YoY).EBITDA increased by 12.0% to €176.4 million, with a margin of 19.0% on revenues.Operating Profit (EBIT) grew by 10.6% to €139.3 million, with a margin of 15.0% on revenues.Operational PerformanceInvestments totaled €49.3 million, largely directed towards expanding industrial capacity and developing new models and product lines. Following the inclusion of Nautor Swan and Simpson Marine, total investments for the period reached €188.1 million.Net Cash Position stood at €29.1 million post dividend payments of €34.8 million, organic investments of €49.3 million, and other operational expenses. Excluding extraordinary transactions, the net cash position would have been €112.8 million.Order Book and Sales:Q4 2024 Orders amounted to €230.2 million, a 22.0% increase over the same period in 2023. The total backlog stood at €1,019.8 billion, with €623.1 million allocated to 2025.Strategic InitiativesThe company continued to enhance its international footprint via direct representation in key regions, exemplified by the acquisition of 95% of the Simpson Marine Group in March 2024.In August 2024, Sanlorenzo signed a binding agreement to acquire 100% of Nautor Swan, which had already contributed €38.3 million over five months.Technological advancements were also notable, with the launch of three yachts showcasing innovative sustainable technologies.Massimo Perotti, Executive Chairman of Sanlorenzo, stated: "Our solid growth trajectory, confirmed by achieving results both in terms of revenues and margins, highlights the effectiveness of our 'Haute Couture' business model and the ability of our team to successfully navigate global markets and close valuable acquisitions, even in uncertain times like 2024. We are steadily pursuing the Group’s long-term vision and executing the strategic objectives set out in our business plan, while maintaining a solid financial position and liquidity that allow us to evaluate and seize every opportunity to further strengthen our brands."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
February 14, 2025
Maxim Yachts is set to make its first appearance at the Dubai International Boat Show, held from February 19th to 23rd, 2025, at Dubai Harbour.Max 43 Comfort The Spanish shipyard, renowned for its day cruisers, will welcome visitors by showcasing its mission to offer a highly customizable range of boats tailored to fit both the specifications and regional requirements of owners worldwide.Max 43 Race Among the highlights is the latest model from the Barcelona-based yard, the Max 44R, which made its global debut at the recent Miami Boat Show. Designed by Alex Cherigny and engineered by Isonaval, the Max 44R is equipped with a triple Mercury Verado outboard engine configuration, generating a total of 1,200 horsepower and capable of reaching speeds above 50 knots.Max 44 RMaxim Yachts has already created a buzz within the industry, making an impactful appearance at the Genoa Boat Show earlier this year. Renowned for its limited and customizable production, the shipyard prides itself on superior craftsmanship. The Neo 43 Comfort exemplifies a perfect blend of style, performance, and comfort, showcasing Maxim Yachts’ unwavering commitment to excellence and innovation.Credit: Maxim Yachts
February 14, 2025
The Quick Group, a globally recognized leader in the development of advanced marine systems and comprehensive pre- and after-sales services for yachts and superyachts, is thrilled to announce a momentous strategic partnership between its renowned Quick Nautical Equipment brand and Mercury Marine. This significant collaboration was officially unveiled at the Miami International Boat Show 2025.For decades, Quick Nautical Equipment has been instrumental in shaping the marine industry, establishing benchmarks with its pioneering innovations. Known for its uncompromising reliability and technological advancements, the brand has garnered a stellar reputation for excellence across various sectors, including anchoring systems, water heaters, bow thrusters, inverters, battery chargers, and more. Its extensive product portfolio encompasses a vast array of offerings, notably its comprehensive selection of bow thrusters, which have consistently delivered superior performance and durability.Notably, Quick Nautical Equipment was among the first to introduce bow thrusters powered by IP68 synchronous motors with integrated drivers, ensuring unlimited continuous proportional operation—a hallmark of the brand's commitment to innovation.Beginning now, Quick Nautical Equipment's thrusters are officially compatible with Mercury Marine's Joystick Piloting system. This collaboration represents a significant leap forward in enhancing boat maneuverability and control. By integrating Quick Nautical Equipment’s advanced bow thrusters with Mercury’s Joystick Piloting system, boaters can expect unprecedented precision, responsiveness, and ease of handling.Quick Nautical Equipment offers a comprehensive range of thrusters specifically designed to seamlessly integrate with Mercury's single-engine and multi-engine Joystick Piloting systems. To facilitate this integration, Quick Nautical Equipment has developed a gateway that allows communication between its Proportional Control Systems (PCS) and Mercury’s protocols. This means that control of QNE thrusters can be achieved directly through Mercury’s maneuvering joysticks. Moreover, this system can be retrofitted onto existing Quick Nautical Equipment installations, provided that the PCS is either already in place or will be installed.This integration significantly enhances precision and control during low-speed maneuvers, resulting in a superior boating experience for users.Quick Nautical Equipment's enduring commitment to excellence ensures that it remains at the forefront of marine innovation, continuously delivering solutions that stand the test of time and elevate the overall boating experience. These achievements are bolstered by strategic collaborations with top global industry leaders, such as Mercury Marine, driving the integration of cutting-edge technologies and raising the bar for the entire marine industry.Credits: Quick Group
February 14, 2025
Overmarine Group hassold the seventh unit in the Mangusta Oceano 50 series, with the transaction facilitated by Moran Yacht & Ship. Dubbed Project Nexus, this 49.9-meter yacht is designed by Alberto Mancini and will be constructed at Overmarine's facility in Viareggio, Italy. Moran Yacht & Ship will manage the project, with delivery expected in 2028. Upon completion, Project Nexus will join other notable sisterships like Dokinha and Eternity.The first Oceano 50, named Alisa, was delivered in 2021 and went on to secure a victory in its category at the subsequent World Superyacht Awards.Project Nexus offers a flexible accommodation layout, featuring five cabins on the lower deck, including two VIP suites, along with an optional additional VIP cabin or gym, depending on the owner's preferences. The owner's suite is situated on the main deck and comes equipped with a fully automated balcony, providing unobstructed views of the ocean.One of the standout features of this model is the bow area, which houses a garage that transforms into a swimming pool with a counterflow system when the tender is deployed. Additional amenities include a spacious sundeck with a hot tub, lounge, and al fresco dining area, as well as a 68-square-meter beach club with three terraces overlooking the sea.Performance-wise, the Mangusta Oceano 50 can achieve a top speed of 16 knots and boast a range of 4,500 nautical miles at a cruising speed of 11 knots.Overmarine Group was founded in 1985 by the Balducci family. The shipyard builds open and displacement power superyachts under the Mangusta and Mangusta Oceanco brand names. Credits: Overmarine Group
February 13, 2025
Pearl Yachts is thrilled to announce its participation in the highly anticipated Dubai International Boat Show 2025, scheduled from February 19th to 23rd. This significant event also marks the debut of Pearl Gulf, the brand’s newly appointed dealer for the GCC region, highlighting Pearl Yachts' ongoing expansion in the global market.Pearl Gulf, a distinguished member of the esteemed Ocean World Group, will cater to the discerning tastes of yacht enthusiasts across the UAE, Saudi Arabia, Qatar, and Bahrain. Building on its successful introduction at Boot Düsseldorf, Pearl Gulf reinforces Pearl Yachts’ presence in one of the world's most dynamic yachting markets.Visitors to the Dubai Boat Show will enjoy an exclusive opportunity to immerse themselves in the world of Pearl yachts via Virtual Reality, exploring: the flagship Pearl 95, the Pearl 82, the Pearl 72, and all-new Pearl 63.Pearl Yachts has cemented its status as a boutique British yacht builder, celebrated for its painstaking attention to detail and pioneering approach to luxury yacht design. Each model is the product of a unique collaboration between Dixon Yacht Design, responsible for exterior styling and naval architecture, and Kelly Hoppen Interiors, renowned for creating exceptionally stylish interiors. This exclusive partnership guarantees that every Pearl yacht seamlessly merges cutting-edge performance with timeless elegance.What distinguishes Pearl Yachts is its unwavering focus on the customer experience. Owners benefit from an industry-leading five-year warranty, a reflection of the brand’s dedication to quality and customer satisfaction. Furthermore, each yacht is meticulously crafted to offer spacious interiors, distinctive features, and exceptional value for money.Iain Smallridge, Managing Director of Pearl Yachts, shared: “The Dubai International Boat Show presents the ideal platform for us to engage with yacht enthusiasts in the GCC, a region with a flourishing and growing yachting culture. Pearl Gulf’s involvement emphasizes our commitment to extending the Pearl Yachts experience to a broader audience. At Pearl, we do more than construct yachts; we create extraordinary experiences for our owners that surpass all expectations.”Pearl Yachts was founded in 1998 and has now become one of the UK’s most prominent shipyards. Every Pearl motor yacht is designed and built by experienced craftsmen. Pearl’s fleet consists of the new Pearl 62, the Pearl 80 and the Pearl 95. All newly launched Pearl Yachts are covered by a unique, comprehensive five-year warranty program.Credits: Pearl Yachts
February 13, 2025