San Lorenzo reports record €1.7bn backlog
Italian shipyard San Lorenzo has reported a record backlog of €1.7bn ($1.76bn) for the end of its third quarter of 2022. It made a pre-tax profit of €73.4 million for the first nine months of 2022 – up 43.1% compared to €51.3 million in the first nine months of 2021.
San Lorenzo’s Superyacht Division had sales of €138.4 million for the third quarter. San Lorenzo says this was led by Steel Line and the new X-Space range.
“We are extremely pleased with the performance of the third quarter, which showed a continuous growth, at a very steady pace, in the collection of orders, fostered by the great appreciation we received for our new models during the first boat shows in autumn,” said Massimo Perotti, chairman and CEO, San Lorenzo said:
San Lorenzo debuted its SL120A and SP110 yachts, measuring 36.5m (120ft) and 33.5m (110ft) respectively at the Fort Lauderdale Boat Show last month.
Perrotti said that the company will now approach the next two years with confidence, strengthened by the current orders. “[The backlog] not only covers the results expected in 2022 but also and above all a very remarkable amount of over €520m for 20223 and over €260 for 2024.”
On the investor’s call, he also mentioned that demand is strong. He added: “It is worth mentioning that the market in which we operate has a huge potential, given the little penetration of the luxury yachting amongst the Ultra High Net Worth Individuals and their exponential growth, which is expected to remain sustained for many years.”
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