Sanlorenzo first quarter revenue jumps 9.6%YoY
Italian yacht builder Sanlorenzo reported a sharp increase in revenue of 9.6% year-over-year to €213.5m attributable to the “excellent performance” of the company’s superyacht segment.
Segment-wise breakdown of revenues showed the Yacht Division generated €104.7m of the total revenue (accounting for 49.1%), followed by the Superyacht Division at €65.1m, Bluegame Division at €19.9m and the Nautor Swan sailing yacht brand at €23.8m.
“We are consistently reinforcing our leadership in the most profitable and resilient market segments, particularly in the 30-50m range. This segment leverages the strength of a highly sophisticated and affluent client base, combined with a semi-custom production system that ensures superior quality while minimizing project execution risks,” said Massimo Perotti, chairman and chief executive officer of the company.
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Geographic breakdown of the revenue showed Europe remains the leading market for Sanlorenzo, contributing 61% of the total revenue, followed by the Americas with 20.6% and the remainder from Asia Pacific and Middle East & Africa region.
The revenue growth transited to better net profit growth hitting €21.2m, up by 8.0% compared with €19.7m in the first quarter of 2024.
In terms of backlog, the company ended the quarter at €1.2bn, with order intake in the first quarter totalling €178.1m, up by 5.9%. The growth in order intake was spread out across all segments, excluding the contribution of the Nautor Swan division, which the company said remained stable year-on-year, despite the challenging macroeconomic and geopolitical environment.
For 2025, Sanlorenzo expects to benefit from its entry into the sailing yacht segment through the acquisition of Nautor Swan and acceleration of its direct distribution strategy, through the acquisition of Simpson Marine in APAC.
Sanlorenzo says it continues to benefit from the traditional markets and competitive advantage of its high-end brand positioning from exclusive yachts in the 24-75m segment.
