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16 March 2023

Sanlorenzo publishes its 2022 budget and future projects

Net Revenues of 740.7 million euros, +26.4% compared to 2021. This is the first figure of the 2022 consolidated budget approved by the Board of Directors of Sanlorenzo, convened under the chairmanship of Cavalier Massimo Perotti, a former president of the Italian Marine Industry Association.

As we reach the end of this financial year,” commented cavalier Perotti, “it is with great pleasure that we can show the results to all our shareholders and stakeholders of a three-year period marked by exceptional results, results that each year have exceeded our own forecasts and have seen a compound annual growth rate of 17.6%, a doubling of EBITDA, an increase of 310 basis points in our EBITDA margin, a net profit that has almost tripled, and more than 100 million euros of cash created, all while having distributed dividends for a value of around 31 million euros.”

At the same meeting, the Board of Directors also approved the Sanlorenzo 2023-2025 Business Plan, which, in taking into account the development of order intake, once again foresees double-digit growth in its key financial indicators.

These are the main figures of the consolidated financial statements as of 31st December 2022. Net Revenues as of 31st December 2022 amounted to €740.7 million, up 26.4% compared to 2021 with this breakdown by Division: Yacht Division: €464,520 at +28.0%; Superyacht Division €200,199 at +11.9%; Bluegame Division €75,960 at +72.2%.      

An adjusted EBITDA of €130.2 million at +36.3% compared to 2021, margin on Net Revenues of 17.6%, Capital Expenditure of €59.0 million, +19.8% compared to 2021. Net cash position of EUR 100.3 million compared to EUR 39.0 million as of 31st December 2021.

The Board of Directors also resolved to propose to the Shareholders’ Meeting the payment of a dividend of EUR 0.66 per share, equivalent to approximately 31% of the Group’s net profit and approximately 10% more than the 2021 dividend. The Sanlorenzo Ordinary Shareholders’ Meeting has been convened in first call on 27th April 2023.

Sanlorenzoyacht.com

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