Sanlorenzo outlines plan for growth and expansion

Sanlorenzo has outlined its business plan for 2023 to 2025 following its strong financial performance in 2022. The Italian shipyard also revealed its intentions of buying UK based brokerage, Simpson Marine.

The past three years have seen Sanlorenzo achieve an annual growth rate of 17.6% and distributed dividends of around €31m amongst its shareholders.

Massimo Perotti, chairman and CEO said: “At the time of listing, we promised measured growth. We intend to keep the same promise for the next three years, despite having always delivered better than expected results to our shareholders.”

For the next three years, the firm said it expects average annual growth in “high single digit” revenues, starting with figures of around €810m to €830m in 2023, up by 11% compared to 2022.  This is well within reach too, with revenues for 2023 reaching €617m already.

To continue this, Sanlorenzo said it will further invest in the research and development of new models and increasing production capacity in its shipyards. It claims investments of around €150m are already planned for the three year period and aims to grow its 100,000sqm capacity by 25%.

“We are well aware that expectations are very high and for this reason we will spend all our energies to continue to reward the trust that our shareholders and all stakeholders have placed in our project,” said Perotti,