The company has also provided updated guidance for 2025, reinforcing their leadership in the global luxury yacht sector.
In our previous coverage, we reported on Sanlorenzo's net revenues from new yachts reaching €930.4 million (+10.7% YoY), EBITDA at €176.4 million (+12.0%), and EBIT at €139.3 million (+10.6%). The company also boasted a net cash position of €112.8 million (excluding acquisitions) and a solid order backlog of €1.02 billion, with €623.1 million scheduled for delivery in 2025.
Confirmed Full-Year 2024 Results
In the newly released official figures, Sanlorenzo confirmed all previously reported metrics and added key profitability information:
- Net Profit: €103.1 million (+11.1% YoY) – this was not disclosed in the earlier February update.
- EBITDA Margin: 19.0%
- EBIT Margin: 15.0%
- Backlog: €1.02 billion, with 89% of orders sold to final clients, deliveries planned through 2028.
These results continue to reflect the success of Sanlorenzo’s unique positioning in the 30–50m high-margin segment, as well as the strength of its semi-custom business model, which limits execution risk while offering tailored luxury to its clientele.
Our business model – unique in the international yachting landscape and meticulously built around the distinctive values of the Sanlorenzo, Bluegame, and Nautor Swan brands – continues to deliver excellent profitability and long-term visibility.
Chairman and CEO
Sanlorenzo
2025 Guidance: Confidence in Sustainable Growth
Sanlorenzo’s Board confirmed its financial targets for 2025, including:
- Revenues from New Yachts: €960–980 million
- EBITDA: €180–190 million
- Net Profit: €104–110 million
- EBITDA Margin: Estimated between 18.8–19.4%
Chairman and CEO Massimo Perotti emphasized that the company’s strategy of maintaining leadership in premium yacht segments, particularly in steel and explorer yachts, will continue to drive its value. He also noted that Sanlorenzo has limited exposure to U.S. tariff risks, with only 8% of 2024 revenues coming from U.S. clients and less than 5% involving yachts under 30 metres, the category most likely to be affected by US policy changes and potential Trump Tariffs.
Strategic Outlook
With a confirmed order backlog that stretches through 2028 and a client base made up of ultra-high-net-worth individuals across Europe, the Americas, and Asia, Sanlorenzo continues to show long-term visibility and profitability. Its strategic acquisitions of Nautor Swan and Simpson Marine in 2024 also enhance its footprint in both sailing yachts and Asian markets, respectively.
Sanlorenzo’s latest financial release not only confirms its exceptional 2024 performance, as previously reported, but also underscores its resilience heading into 2025. With a highly selective client base, long-term order visibility, and minimal reliance on potentially tariff-impacted U.S. yacht sales, the Group appears well insulated from geopolitical and regulatory uncertainties, including any future U.S. import duties.
Its strategic focus on ultra-high-net-worth clients, semi-custom yachts, and production scale in the 30–50 metre segment ensures that Sanlorenzo remains in a strong position to deliver growth - regardless of external policy changes.
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