Sanlorenzo has reported continued growth in the first half of 2026, with order intake reaching €496.4 million – an increase of 18.3% compared with the same period in 2025.
The results reinforce the Group’s positive trajectory as it continues to implement its 2026–2028 Tomorrow’s Timeless Business Plan, unveiled on 8 May 2026.
Commenting on the results, Sanlorenzo Chairman and CEO Massimo Perotti said they “confirm the validity of the direction” outlined in the Business Plan, highlighting continued growth in order intake and the visibility provided by the Group’s substantial backlog for future production planning.
Net revenues from new yachts reached €471.3 million during the first half of 2026, an increase of 3.8% year on year.
The Superyacht Division delivered the strongest revenue growth, increasing by 12.4% to €154.1 million, while the Yacht Division generated revenues of €232.8 million, up 3.1%.
Bluegame remained broadly stable at €43.6 million, while Nautor Swan recorded revenues of €40.9 million, a decline of 13.9%.
The Group recorded particularly strong growth across several key international markets.
Revenues in the Americas increased by 35.4% to €129 million, while Asia-Pacific grew by 35.8% to €73.9 million. Revenues from the Middle East and Africa rose by 22.7% to €45.8 million.
European revenues were €222.6 million, down 16.6% compared with the first half of 2025.
Profitability also increased during the first six months of the year.
EBITDA rose by 3.7% to €83.5 million, with an EBITDA margin of 17.7%, reflecting Sanlorenzo’s continued focus on maintaining margins alongside controlled growth.
EBIT increased by 3.9% to €62.2 million, while Group net profit reached €49.1 million, an increase of 5.4%, supported by improved operating profitability.
Sanlorenzo’s order backlog stood at €1.5 billion at 30 June 2026, an increase of 4.1% year on year, with 89% of orders already sold to final clients.
Of the total backlog, €831.7 million relates to 2026, providing 83% coverage of the midpoint of Sanlorenzo’s 2026 revenue guidance. A further €667.2 million relates to subsequent years.
Net backlog – representing revenue yet to be recognised from secured contracts – reached €1.03 billion, an increase of 4.3%.
First-half order intake increased by 18.3% to €496.4 million, taking the book-to-bill ratio above 1x. Second-quarter order intake was €273.2 million, up 13.1%, marking eight consecutive quarters of year-on-year order intake growth.
Sanlorenzo ended June 2026 with a net cash position of €49.4 million, compared with €20.1 million at the end of 2025 and net debt of €8.3 million at the end of June 2025.
Operating cash flow increased significantly, reaching €96.5 million compared with €23.6 million in the corresponding period, while free cash flow rose to €80.2 million from €7.5 million.
Sanlorenzo has maintained its full-year 2026 guidance.
The Group continues to target net revenues from new yachts of between €980 million and €1.02 billion, EBITDA of €180 million to €192 million, EBIT of €140 million to €147 million and Group net profit of €108 million to €114 million.
Sanlorenzo has also confirmed its 2028 targets, including annual net revenue growth of at least 6%, an EBITDA margin of at least 19% and an EBIT margin of at least 14.5%.
At the heart of Sanlorenzo’s 2026–2028 Tomorrow’s Timeless Business Plan is a strategy of measured, sustainable growth, prioritising value over volume while protecting the exclusivity that defines the Group’s brands.
Future growth is expected to be supported by continued new product development across both its motor yacht and sailing yacht divisions, improvements in operational efficiency and further expansion of its direct distribution network.
The Group’s distribution platforms – including Simpson Marine in Asia-Pacific, Sanlorenzo of the Americas and the Sanlorenzo MED network – are expected to further strengthen relationships with final clients while increasing Sanlorenzo’s control over both sales and after-sales activities.
Looking ahead to the forthcoming international boat shows, Massimo Perotti concluded: “We look ahead to the autumn boat show season with confidence. In the coming months, we will unveil important new products and continue our innovation journey across the entire Group.
“We approach this phase with the same rigorous execution, strategic vision and constant focus on value creation that have underpinned the results achieved to date.”
Massimo Perotti