Massimo Perotti has plenty of reasons to be pleased as he discusses Sanlorenzo’s earnings at Cannes.
Massimo Perotti, the Executive Chairman and CEO of Sanlorenzo, announced the company’s financial results for the first half of 2024 during the yearly press conference at the Cannes Yachting Festival.
The company reported strong financial outcomes for the period:
Net Revenues: EUR 415.1 million from new yacht sales, representing a 6.9 percent rise from last year.
EBITDA: Reached EUR 74.2 million, an increase of 9.7 percent.
Net Profit: Rose to EUR 43.6 million, reflecting an 11.6 percent gain.
Perotti emphasized Sanlorenzo’s significant boost in investments, noting that net organic investments reached EUR 20.5 million in H1 2024, marking a 56 percent increase from the previous year. Nearly 90 percent of the funds will focus on expanding production capabilities and innovating new yacht models.
This strategic foresight aims to keep Sanlorenzo at the forefront of yacht design and manufacturing.
Navigating Towards Sustainability
Sanlorenzo delivered the inaugural unit of the 50Steel; photo: Guillaume Plisson
Currently, recreational boating accounts for approximately 0.22 percent of maritime greenhouse gas emissions, but Sanlorenzo is committed to pursuing a sustainable direction, with ambitious plans to deliver the first carbon-neutral yacht by 2030.
Its strategic roadmap, “Road to 2030,” places sustainability and innovation at the heart of the company’s growth objectives. Progress towards these targets includes forming strategic partnerships with globally recognized names in energy and propulsion solutions like Volvo Penta, Siemens Energy, and Rolls-Royce Solution GmbH – Global Marine (MTU).
Notable sustainable achievements for Sanlorenzo this year included unveiling the first unit of the 50Steel, which is the world’s first superyacht featuring a green methanol Reformer FuelCell system – developed in collaboration with Siemens Energy – and launching the first chase boat operating on zero-emissions hydrogen.
The BGH-HSV (Hydrogen Support Vessel) is assisting team American Magic and the French Orient Express Racing Team in the 37th America’s Cup.
Hydrogen-powered propulsion remains a novelty in the yachting sector.
Strategic Expansions: Acquiring Nautor Swan
The SL86A
Additionally, the company made significant waves by acquiring Nautor Swan, known for its luxury sailing yachts and high-end motor yachts, in August of this year, aiming to create a “unique global yachting hub” that merges the best of motor and sailing yachting.
Nautor is involved in the design, manufacture, sale, and refit of luxury sailing yachts under the Swan, Maxi Swan, and ClubSwan brands, along with motor yachts under the Shadow and Arrow brands, positioning Sanlorenzo to better cater to an ultra-exclusive market.
Sanlorenzo’s Impressive Cannes Line-up
The SP92
In addition to this update, Sanlorenzo is at Cannes to present two new world premieres, the SL86A and SP92, alongside a selection of representative yachts from its various lines, including SP110, SL96A, and SL120A.
The SL86A redefines asymmetry in yacht design, featuring a full-beam master suite on the main deck and an expanded saloon. Its innovative port-side deck configuration optimizes interior space while maintaining elegance.
On the other hand, the SP92 expands the limits of performance and style. This Smart Performance vessel merges state-of-the-art technology with Sanlorenzo’s hallmark minimalist design, including a customizable 45sqm beach area.
Bluegame BGM75
Moreover, Sanlorenzo’s sister brand Bluegame will exhibit the BGM75 multihull alongside four other models. This new multihull showcases a highly efficient hull designed by Philippe Briand, a renowned expert in performance hulls. The catamaran features a reduced length-to-width ratio, offering a lower deck layout with four cabins and a full-beam owner’s suite. It will be displayed alongside the brand’s flagship models, BG74, BGX63, BG54, and BG42.