Home » Sanlorenzo, revenues in 2023 will rise by 13.4%

Sanlorenzo, revenues in 2023 will rise by 13.4%

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Sanlorenzo, revenues in 2023 will rise by 13.4%

«The preliminary results for 2023 match the guidance already increased upon approval of the first half-year accounts. The performance of the year is substantiated in the growth of all the main indicators – at income and equity level, as well as in terms of constant ability to generate new cash to support future investments and the remuneration of our shareholders.” Thus, Massimo Perotti, the president and CEO of Sanlorenzo, the second largest superyacht manufacturer in the world according to the 2024 Order Book of Boat International, headquarters in Ameglia (Sp), in presenting the group’s preliminary consolidated results as of 31 December 2023.

Let’s see them. Net revenues from the sale of new yachts amounted to 840.2 million euros, with an increase of 13.4% compared to 740.7 million in 2022. Ebitda stood at 157.5 million (+21.5% on the 129.6 million in 2022), with a margin of 18.7% on revenues (compared to 17.5% in the previous year). The new 2023 models are doing well, such as the SX100, the 50Steel is expected, the first superyacht in the world with the installation of fuel cells powered by hydrogen.

Contributing to the positive results of 2023 were «the robust performance of Europe (+38.3% compared to 2022), which constituted 68.7% of revenues, and the growth of the Middle East area (+87.3% ), which together more than compensated for the reduction in the Americas”, explains Perotti. Of note is the growth of Bluegame, the group’s sportiest brand, with net revenues of 91.3 million, up 20.2% compared to 2022.

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As regards organic investments, the share is equal to 44.5 million, with an impact of 5.3% on net revenues. Of these, 90% is dedicated to expanding industrial capacity and new product models. The share rises to 64.7 million due to the entry of the companies Duerre and Sea Energy into the scope of consolidation. The net cash financial position is 140.5 million, compared to 100.3 million in 2022 (dividends of 22.9 million).

The value of the net order book is 1,041.7 million euros (1,069.6 million in 2022), of which 587.1 million refer to 2024 and 454.6 to subsequent years: the group has deliveries planned until 2026 for the yacht division and 2028 for the superyacht division, while for Bluegame they reach 2025.

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