Sanlorenzo yesterday released the results of its first quarter.
Net revenues from the sale of new yachts increased 6% to €194.38 million ($209.91 million), compared with €183.7 million ($198.38 million) in the year-ago quarter. EBITDA grew 9.5% year-over-year to €34.1 million ($36.82 million)
The builder’s net cash position was €73.7 million ($79.58 million) at the close of the quarter, compared with €108.1 million ($116.72 million) a year ago.
“Sanlorenzo starts 2024 with a first quarter performance in line with forecasts and our strategy of sustainable and profitable growth over the long term,” chairman and CEO Massimo Perotti said in a statement. “The group maintains, even after acquisitions, enviable equity soundness and liquidity, which will allow us to promptly assess and seize any further opportunities, also in terms of growth by external lines.”
The superyacht division posted a 27% gain in net revenue during the quarter to €5.8 billion ($6.26 billion). The Asia Pacific and Middle East and Africa markets saw the biggest increase in net revenues, which were up 30.23% and 25%, respectively.
Looking to the full year, Sanlorenzo expects net revenues from new yachts to increase 7% year-over-year, with EBITDA growth of 9%. Group net profit is forecast to increase 8%.
