- Business - Sanlorenzo publishes Q1-Q3 financial report

By SuperyachtNews

Sanlorenzo publishes Q1-Q3 financial report

Double-digit revenue growth and €1.7 billion order book backlog reported……

Sanlorenzo's board of directors has published its approved financial results for the first three quarters of 2022. Strong growth has once again been reported across all sectors, with headline statistics published below.  

Order intake -  €248.5 million Q3, €735.6 million 2022.

Net revenue - €544.1 million (+27.0 per cent compared to 2021)

Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) - €93.1 million (+35.6 per cent compared to 2021)

Group Net Profit - €52.2 million (+41.9 per cent compared to 2021)

Net cash position - €91.9 million as of 30 September 2022

Order backlog - Approximately €1.7 billion

Massimo Perotti, Chairman and Chief Executive Officer comments: "We approach the next two years with confidence, strengthened by a backlog close to €1.7 billion, the highest value ever, 93% sold to final clients, which not only covers entirely the results expected in 2022 but also and above all a very remarkable amount of over €520 million for 2023 and over €260 million for 2024. We are aware that, over this period, our order portfolio will protect us from any changes in the environment. It is worth mentioning that the market in which we operate has a huge potential, given the little penetration of luxury yachting amongst the Ultra High Net Worth Individuals and their exponential growth, which is expected to remain sustained for many years."

The forecasted growth for Sanlorenzo is expected to be supported by new additions to the existing lines, including the X-Space for the superyacht decision, and Bluegame Multi Hull (BGM) for Bluegame.

As part of the agreement signed in 2021 with Siemens Energy, some yachts above 40m will see the integration of fuel cells powered by hydrogen obtained from methanol, via a reformer. This will debut with the power generation system on board on a 50Steel, scheduled for delivery in 2024.

Bluegame is also designing and constructing a foiling hydrogen chase boat alongside American Magic, a challenger for the 2024 America’s Cup.

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