In the midst of global economic uncertainties, Sanlorenzo Yacht has achieved commendable results, albeit at a slower pace compared to the significant growth seen in 2022 and 2023.
The company's leader, Massimo Perotti, highlighted these achievements during the presentation of their financial results, coinciding with the Cannes Yachting Festival.
Despite a challenging economic environment marked by geopolitical tensions and unstable markets, Sanlorenzo's revenue in the first half of 2024 increased by 6.9% to 415 million euros, with an EBITDA of 74.2 million euros, up 9.7%. The company anticipates a 10% decline in the EU market and a 30-40% drop in the Asia Pacific region, primarily due to China's economic slowdown.
However, the Americas and Middle East have shown robust growth, with the latter experiencing a 142% increase in the first half of the year.
Sanlorenzo's strategy of focusing on yachts over 24 meters has provided some insulation from economic pressures affecting smaller yacht markets.
The company is also advancing its sustainability initiatives, having completed projects like the 50Steel with green methanol fuel cells and hydrogen-powered tenders.
Additionally, Sanlorenzo has acquired Nautor Swan, enhancing its luxury and sailing expertise.
At the Cannes Yachting Festival, Sanlorenzo unveiled two new yachts, the SL86A and SP92, showcasing their commitment to innovation in the luxury yacht segment.