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Sanlorenzo shares 2022 financial results

Sanlorenzo has reported double-digit growth across all metrics…

Sanlorenzo has reported double-digit growth across all metrics for the year ending December 31, 2022. The company's net revenues from the sale of new yachts reached €740.7 million, a YoY increase of 26.4%. This growth was driven by the strong performance in Europe and the success of new models. The adjusted EBITDA was €130.2 million, a YoY increase of 36.3%. The EBITDA margin on net revenues increased from 16.3% to 17.6%, reflecting the company's strong financial performance.

Investments in the company amounted to €59 million, up 19.8% compared to 2021. These investments were primarily focused on increasing production capacity and developing new products. This, in turn, helped to drive the company's strong financial performance. The company also reported a net cash position of €100.3 million, an increase of €61.3 million YoY.

Massimo Perotti, Chairman and Chief Executive Officer of the Company, commented: “Today we are proud to present extraordinary results, which have been achieved jointly with all the Group’s stakeholders. First, my deepest gratitude goes to the whole Sanlorenzo team for their engagement and determination: without everyone’s contribution, this would have not been possible. We have managed to convey our passion for success, always offering products of excellence not only for quality and design but also for their features of high technology and true sustainability. I cannot hide our ambition to act as pioneers in the industry and, as such, we have partnered with the major global players in the field of energy, outlining the path towards carbon neutrality.”

Perotti continues, “Our responsibility translates into a tangible 360-degree commitment, with objectives and measurable results which we publicly disclose in our Non-Financial Statement. This has earned us the “2022 Sustainability Excellence Award” and the “Best Performance Award 2022/2023” recognitions. We completed important transactions, including some strategic acquisitions that enabled us to add significant pieces to the execution of our strategy, which identifies supply chain and services as key drivers of growth to strengthen our business model on the road to 2030. It is just the beginning of a new development phase that will leverage our consolidated leadership position at the international level, a path which will be detailed in the business plan for the next three years we will release in a few weeks.” 

The company's backlog was €1.069.6 million as of December 31, 2022, compared to €915.6 million in the previous year. This includes €617.4 million for 2023 and €452.2 million for future years, the highest level ever recorded. This backlog is a testament to the company's continued growth and its ability to secure new business.

Sanlorenzo S.p.A.'s preliminary consolidated results for the year ending December 31, 2022, show double-digit growth across all metrics. The company's financial performance is a result of its continued focus on investment, innovation, and growth. With a net backlog of €1.1 billion, including €452.2 million of orders beyond 2023, the company is well-positioned for continued success in the future.

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