Sanlorenzo (SL) Corporate presentation summary

Strategic positioning and brand philosophy

• Focus on 'quiet luxury' and 'haute couture yachting' with limited, made-to-measure units and a strong heritage of craftsmanship and innovation.

• Ecosystem of specialized local artisans and direct relationships with ultra-high-net-worth clients, fostering loyalty and repeat business.

• Integration of art, design, and sustainability into the brand, with collaborations with renowned designers and active participation in cultural events.

• Direct distribution network in key global yachting hubs, enhancing customer experience and profitability.

• Expansion in APAC and Americas through acquisitions and new offices, supporting long-term growth.

Financial performance and growth

• Net Revenues New Yachts for 9M 2024 reached €669m (+6.9% YoY), with EBITDA margin expanding to 18.5% and group net profit up 9% to €72.9m.

• FY2024 guidance confirmed with consolidated Net Revenues New Yachts expected at €915-950m and EBITDA margin at 18.8%-19.1%.

• Order backlog at an all-time high of €1.72bn, with 94% of FY24 guidance covered and 90% of backlog sold to final clients.

• Net cash position at €27.2m after significant M&A and buyback activity, with organic capex focused on expansion and innovation.

• Superior resiliency and margin profile compared to peers, driven by direct sales, flexible cost structure, and high-quality backlog.

Market trends and strategic initiatives

• Global yachting market supported by rising UHNWIs, robust order books, and growing demand for larger yachts, especially in Europe and North America.

• APAC identified as a long-term strategic market, with Simpson Marine acquisition providing a platform for expansion.

• Maintenance and refit services seen as high-margin, anti-cyclical revenue streams, leveraging the growing global fleet.

• Vertical integration through equity investments in key suppliers secures procurement and enhances production agility.

• Sustainability at the core of R&D, with pioneering use of green methanol and fuel cell technology to meet stricter regulations and client values.