SANLORENZO EXCEEDS 2021 EXPECTATIONS

Sanlorenzo have released their preliminary results for 2021 declaring a significant increase in both net revenue and adjusted EBITDA with double-digit growth envisaged for 2022.

The following gives a summary of these results and the outlook for 2022:

  • Net revenues from the sale of new yachts at €585.9 million, +28.0% compared to €457.7 million in 2020.
  • Bluegame’s accomplishments continue with Net Revenues of €44.1 million, up by 51.5% compared to 2020, particularly thanks to the extremely successful BGX line.
  • Adjusted EBITDA at €95.5 million, +35.3% compared to €70.6 million in 2020.
  • Investments of €49.2 million, +59.7% compared to €30.8 million in 2020, including €26.7 million intended to increase the production capacity and €17.5 million for product development, to support future growth.
  • Net cash position of €39.0 million as of 31 December 2021, compared to €3.8 million as of 31 December 2020.
  • Backlog more than doubled at €915.6 million as of 31 December 2021, compared to €408.8 million as of 31 December 2020.
  • Further increase in backlog, exceeding €1 billion as of 31 January 2022
  • 2022 guidance again envisages a double-digit growth of the key figures and expected Net Revenues from New Yachts covered for about 80% by the current order portfolio.