Following its IPO in December, Italian yachtbuilder Sanlorenzo posts strong gains in sales and profitability with EBITDA up 73.4% to €66m
In its first results since listing on the Italian Borsa last December, superyacht builder Sanlorenzo has reported a 39.3% rise in revenues from the sale of new yachts to reach €455.9m based on preliminary figures for 2019. The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 73.4% to €66m compared to €38.1m in 2018.
Sanlorenzo’s board of directors met in Turin yesterday to review the preliminary consolidated results for the 2019 financial year and consider a proposed stock option plan for 2020. Massimo Perotti, Sanlorenzo’s Executive Chairman said: “We are extremely pleased with the preliminary results that have been examined today, confirming the achievement of the targets indicated in the IPO phase, with results at the high-end of [our] forecasts.” He added, “All the Group divisions recorded a positive trend, with a significant increase in export sales as set out in the strategy.
”In the first few weeks of the current year, good performance in terms of sales has been confirmed, with the order book reaching €483m at January 31, ensuring we have important visibility for 2020 and 2021,” he also noted.
Breaking out revenues by division…
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