Saint Lawrence with the wind at your back. The luxury boating company has registered revenues net from the sale of new yachts at 428,4 million euros (+32,8%) driven by the excellent performance of the Americas and Europe. More than double theUseful which stands at 36,8 million euros, (+64,9%). Orders have already exceeded one billion euros. New record also in terms of profitability with Ebitda to 68,6 million euro (+41,5%), with a margin on new net revenues growing by 100 basis points to 16%.
A golden moment for the nautical market which seems to be restarting at full speed. The excellent performance of Sanlorenzo is linked both to an increase in volumes as a result of the high level of new orders, and to the increase in average selling prices, in particular the SX line, with the SX112 introduced in 2020, the SD, with the new SD118 presented at the Cannes Yachting Festival and the asymmetrical models of the SL line.
Growing too investments of 36,7 million euros, of which 24,7 million euros in the third quarter. More than doubled compared to the first nine months of 2020, due to the acquisition of new production infrastructure. The net cash position also improved, standing at 35,2 million euros, compared to the net financial debt of 5,1 million euros recorded as at 30 September 2020 and a net cash position of 3,8 million euros euros as at 31 December 2020.
Instead, theorder intake is the third quarter to 381,1 million euros, which pushes the backlog to reach 1,2 billion euros, with high visibility on future growth. In fact, the company confirmed its 2021 guidance, forecasting double-digit growth in the main metrics: net revenues should be between 565 and 575 million euros, adjusted Ebitda between 92 and 94 million euros, group between 47 and 48 million euros.
Massimo Perotti, Chairman and Chief Executive Officer of the Company, commented: “The results we approve today are proof of the goodness of our business model and of Sanlorenzo's ability to navigate with perseverance, commitment and determination towards medium-long term objectives. Our compass is a growth that, if at first I defined polite, now I consider "eloquent".
“Alongside the product results, we place great attention on economic performance and sustainability: the growth of EBITDA and of the main financial indicators in the nine months of the year provides us with important visibility on future growth, confirming Sanlorenzo as a luxury Maison in the yachting sector ”, concluded Perotti.
