Sanlorenzo net revenues from the sale of new yachts were €415.1 million for the first half of 2024, up almost 7% compared to €388.4 million in the same period in 2023.
The increase was driven by the Superyacht and Bluegame Divisions, with the Yacht Division remaining broadly stable.
Geographically, a rebound in the Americas (+9.2%), good performance in APAC (+20.9%), and continued sustained growth in the Middle East and Africa (+142%).
In its latest half-year report, Sanlorenzo stated that Europe generally presents a stable environment, with the decline of almost 10% being attributable to the tough comparison with a strong H1 2023 (+37.1% compared to H1 2022).
The order intake in H1 2024 was €323 million, reflecting a normalised level in line with the typical seasonality of H1 and the Group’s net profit was €43.6 million, up 11.6% compared to €39 million in H1 2023.
As at 30 June 2024, Sanlorenzo had a gross backlog of €1,364.6 million, 88% of which is sold to final clients.
We move forward with great optimism, fully aware of our strength and the validity of our strategic choices.
Massimo Perotti, Sanlorenzo Group chairman and CEO
“In the first half of 2024 and until today, we have faced and overcome several challenges with determination and a dynamic approach, fully reflected in our positive results,” said Massimo Perotti, Sanlorenzo Group chairman and CEO.
“First and foremost, we have maintained our planned growth trajectory, further expanding margins and consolidating a robust net backlog, in the context of a complex and uncertain global macroeconomic and geopolitical environment, from which even high-end luxury has not been immune.”
And he pointed out two key projects Sanlorenzo has completed as part of its move towards sustainable yachting.
These were the delivery of the 50Steel equipped with a green methanol reformer-fuel cell system for on-board hotellerie services, and two BGH tenders with hydrogen propulsion built for America’s Cup challengers.
The Group also completed the acquisition of Nautor Swan.
“Swan is an extraordinary brand with which we can develop significant synergies, contributing importantly to the Group’s results,” added Massimo.
“We move forward with great optimism, fully aware of our strength and the validity of our strategic choices.”
