Italian builder Sanlorenzo has recorded an increase in turnover and profitability for its financial 2014 year as key markets in the Mediterranean and the US come back on stream.
Talking to SB‘s sister title IBI at the Cannes show where the builder is lauching its new SL86, company president Massimo Perotti confirmed sales of €208m with EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) at €20.7m and net profits of €6m. That compares to a turnover of €160m (EBITDA €16.5m) for 2013. “We’ve seen both volume and profitability increase by 20 per cent,” said Perotti, who expects turnover to hit between €215m and €220m this year. “The market in Europe is coming back. In just the last three months we’ve sold six 27m boats to Italian clients, one to a frenchman and two to Spanish buyers, which is a healthy sign that confidence in the region is returning,” he continued. The US is also strengthening although Perotti noted that sales growth, though healthy, had not been quite as robust as one might have expected given the following winds of favourable exchange rates and a healthy macro economic outlook Stateside.
“The traditional, established markets in Europe and the US are coming back, the emerging markets of Russia, South America and China are weaker. We’re looking at a step-by-step recovery, every quarter is a little bit better than the last,” he added.
The Italian builder was using the show to launch its new SL86 – which along with its 76, a new model of which will be unveiled in july next year – mark the entry point to a portfolio that comprises a range of 13 models across three ranges up to 60m. The builder had eight boats on display in Cannes and will be unveiling its new 460EXP explorer inspired superyacht at the Monaco show in a couple of weeks. It wll also be showing its 46 Steel at that show.
Building 30 boats a year, Perotti said that the Cannes show was providing “all the definite signs that the industry is alive again.”