Sanlorenzo presents consolidated results as of 31-12-2021

“It is with great pride that we are able to present these industry-leading results, with a level of performance that only confirms the unwavering strength of our brand, a brand in which clients have come to recognise unmatched quality and the ability to grant them their much-desired sense of freedom, a value that has become essential in today’s world. These are the key elements behind the Maison’s success: vision to create responsible value over time; consistency in achieving our goals and always outdoing expectations; extreme attention to detail and obsessive dedication to quality and design, including a constant search for materials that can transform our yachts into works of art”.

These the words of Massimo Perotti, Former President of Confindustria Nautica (Italy’s Marine Industry Association) and President and CEO of Sanlorenzo S.p.A., commenting the preliminary consolidated results as of 31^st December 2021, examined by the Company’s Board of Directors, having exceeded 2021 guidance with a Backlog of over 1 billion euros as of 31^st January 2022.

The consolidated results show:

– Net revenues from the sale of new yachts (“Net Revenues New Yachts”) at €585.9 million, +28.0% compared to €457.7 million in 2020, led by the acceleration in Europe and the Americas

– Adjusted EBITDA at €95.5 million, +35.3% compared to €70.6 million in 2020, margin of 16.3% on Net Revenues New Yachts, up by 90 basis points

– Investments of €49.2 million, +59.7% compared to €30.8 million in 2020, including €26.7 million intended to increase the production capacity and €17.5 million for product development, to support future growth

– Net cash position of €39.0 million as of 31 December 2021, compared to €3.8 million as of 31 December 2020.

– Backlog more than doubled at €915.6 million as of 31 December 2021, compared to €408.8 million as of 31 December 2020, cleared from Net Revenues New Yachts recorded during the year

– Further increase in backlog, exceeding €1 billion as of 31 January 2022

– 2022 guidance anticipated, envisaging once again a double-digit growth of the main metrics and expected Net Revenues New Yachts covered for about 80% by the current order portfolio.