Sanlorenzo has reported order intake of €803.1 million for the first nine months of 2026, up 16.4% year on year, as it confirmed its full-year guidance and 2026–2028 business plan.
Third-quarter orders rose 13.5% to €306.7 million, marking the ninth consecutive quarter of year-on-year growth in order intake.
Net revenues new yachts increased 3.1% to €711.3 million for the nine months ended 30 September.
EBITDA rose 2.5% to €131.2 million, with a margin of 18.4%, compared with 18.5% a year earlier. EBIT increased 1.8% to €99.4 million, while group net profit grew 4.1% to €79.1 million.
Order backlog
Free cash flow reached €77.2 million, compared with an outflow of €12.6 million in the corresponding period of 2025.
The group ended September with net cash of €56 million after paying €37.1 million in dividends, strengthening its financial position alongside the increase in earnings.
Gross order backlog stood at €1,805.6 million, up 5.6%, with 89% sold to final clients.
The €924.5 million allocated to 2026 covered 92% of the midpoint of full-year new-yacht revenue guidance. Net backlog, representing contracted revenue yet to be recognised, reached €1,094.3 million, up 7.4%.
Revenue growth
“Our €1.8 billion gross backlog, 89% sold to final clients, and our €1.1 billion net backlog, exceeding expected 2027 net revenues new yachts, give us the visibility to plan ahead with discipline,” said Massimo Perotti, Sanlorenzo executive chairman.
The Superyacht Division led revenue growth, rising 8.9% to €226 million. Yacht Division revenue increased 4.2% to €359.5 million and Bluegame grew 1.5% to €66.4 million.
Nautor Swan revenue fell 17.6% to €59.4 million, although Sanlorenzo said improving fourth-quarter sales supported expectations for the division’s year-end performance.
Geographically, Americas revenue rose 34.5% to €188.7 million, Asia Pacific increased 57.5% to €108.9 million and the Middle East and Africa grew 12.9% to €47.6 million.
Europe remained the largest market but declined 16.5% to €366.1 million. Non-European markets accounted for 48.5% of new-yacht revenue.
New possibilities
Perotti highlighted interest in SHE, with nine units sold, alongside 74Steel Silver Fox and BG64 at Cannes and Monaco. Swan Alloy 44 is under construction, with a new 50-metre model planned.
“We are opening new possibilities for Swan, bringing its sailing heritage together with Sanlorenzo’s superyacht expertise,” he said.
For the 12 months of 2026, Sanlorenzo forecasts new-yacht revenue of €980 million–€1,020 million, EBITDA of €180 million–€192 million, EBIT of €140 million–€147 million and group net profit of €108 million–€114 million.
Capital expenditure is projected at €50 million–€55 million. Its ‘Tomorrow’s Timeless’ plan targets at least 6% compound annual revenue growth over 2025–2028, with EBITDA and EBIT margins of at least 19% and 14.5% respectively.
