Italian yacht builder to hold IPO

Author:
Publish date:
Sanlorenzo Chairman Massimo Perotti

Sanlorenzo Chairman Massimo Perotti

Sanlorenzo has filed a request to list on the Milan stock exchange, according to Reuters. The Italian yacht builder expects to hold an initial public offering this year.

Sanlorenzo Chairman Massimo Perotti told Reuters that he plans to float up to 35 percent of its capital, offering both new and existing shares to institutional investors.

"Proceeds deriving from the capital increase are intended to be used by the company mainly to foster and accelerate its future growth and to seize market opportunities," the group said in a statement.

Sanlorenzo expects net revenue from sales of new yachts of $473-502 million (430-456 million euros) for 2019, up from $391 million (355 million euros) in 2018, with core earnings (EBITDA) net of extraordinary items of $68-72.6 million (62-66 million euros), up from $42 million (38 million euros) last year.

Related

A Record Q2 for Brunswick

With strong global demand in all its business segments, Brunswick Corp. reported another stellar quarter, posting a 57 percent jump in net sales.

OneWater Adds PartsVu

The online marketplace for marine parts, accessories and electronics posted $25 million in sales over the last year.

Groupe Beneteau Updates Revenue Forecasts, More

The builder saw gains in its boat and luxury-home sectors and made several acquisitions, including a majority stake in Dream Yacht Group.

Golden Manufacturing Expands

The fabricator of aluminum boat lifts and aluminum and concrete floating docks adds 18,000 square feet to its Fort Myers, Fla., headquarters.

GetMyBoat Takes You to the Movies

The boat rental marketplace site teams with Disney’s Jungle Cruise for a contest to win a boat trip or movie tickets.

ConMar Adds to Sales Team

The manufacturers’ representatives add industry vet Brain Steele.

Will Canada Reopen to Boaters?

Set to open its borders to fully vaccinated U.S. residents next month, our neighbor to the north could be facing a strike by Canadian border guards and customs officials. Plus, the Great Lakes welcomes a newly designated marine sanctuary.