Skip to main content

Sanlorenzo Reports 2020 Financials

Gains in the Asia-Pacific and Americas markets offset losses for the Italian builder’s superyacht division.
3_Sanlorenzo_Bluegame

Italian yacht builder Sanlorenzo reported consolidated net revenues of 457.7 million euros ($560 million) for 2020, up 4 percent from 2019. The builder said the increase exceeded the company’s outlook for the time period.

The increase in sales was primarily driven by a sharp rise in orders from the Asia-Pacific region and the Americas, the builder said, even after a second quarter marked by significant Covid-19-related delays and closures.

Net revenues in the APAC region were up 42 percent from 2019 and totaled EUR103.7 million ($127 million), accounting for 22.6 percent of total revenues.

At EUR82.8 million ($101.3 million), revenues in the Americas were up 15.4 percent from the same time period in the year prior and accounted for 18.1 percent of total revenue.

2_Sanl0renzo

Sanlorenzo said that while most of its sales — EUR234.1 million ($286.4 million) or 51.1 percent — were concentrated in Europe, that number is down 16.4 percent compared with 2019, chiefly due to restrictive measures that lingered throughout 2020.

Sanlorenzo’s superyacht division saw the most significant loss, down 9.5 percent to EUR135.8 million ($166 million), which the company said was hampered by travel restrictions.

“2020 results … prove once again the efficacy and the resilience of Sanlorenzo’s business model and the strength of the brand, not only the steadiness of revenues, but also and especially the relevant increase in operating margins,” executive chairman Massimo Perotti said in a statement.

1_Sanlorenzo

Perotti highlighted a backlog of EUR408.8 million ($500 million), slightly down from 2019 but significant despite a 45-day lockdown last spring at the builder’s Ameglia, Massa, La Spezia and Viareggio yards, as well as worldwide, pandemic-related restrictive measures.

“A further reassuring element for the future is the strong acceleration in the order intake recorded in the last quarter,” Perotti said. “This, together with the positive market trend and the commercial success of the four new models launched during the year as planned, makes us look forward to 2021 with confidence.”

Related

Sportsman Boats Hires CFO

Greg House was previously chief financial officer with Sea Star Solutions and Dometic.

NMMA Reports Strong Boat Sales in 2021

Annual new powerboat sales are expected to exceed 300,000 units for the second consecutive year.

Lowrance Releases Software Update

The software release enables a new sonar feature and autopilot compatibility for Ghost trolling motors and Ghost-compatible MFDs.

Keeping the Sales Team Motivated and Sharp

Here are some strategies from the “Undisputed King of Motivation,” Zig Ziglar, for sales success before, during and after the transaction.

Retired CG Officer Joins Commonwealth PR

Chad Saylor, who served as a public affairs officer, is an account executive with the Virginia-based public relations and marketing firm.

Costa Names Marketing VP

John Acosta will lead the performance eyewear company’s global marketing efforts.

Limestone Outlines 2022 Strategies

The builder shares progress on production, fulfilling its order backlog, its partnership with electric outboard manufacturer Vision Marine and more.

IBEX Call for Proposals Ends This Week

The deadline to submit Education Conference topics is Jan. 14. IBEX is scheduled for Sept. 27-29 in Tampa, Fla.