Sanlorenzo S.p.A. has announced its periodic financial information for the first quarter of 2023. The company reported net revenues from the sale of new yachts amounting to €183.7 million, reflecting a notable 11.8% year-on-year increase, with the strong performance of its superyacht and Bluegame divisions driving this growth.

Sanlorenzo also reported an EBITDA of €31.2 million, representing a 21.2% YoY increase. This growth in earnings before interest, taxes, depreciation, and amortization indicates improved operational efficiency. Additionally, the company achieved an EBIT of €24.2 million, marking a 22.0% YoY increase, and a group net profit of €17.2 million, up by 23.0% compared to the same period last year. 

The company's backlog remained strong, reaching approximately €1.24 billion as of March 31, 2023. Sanorenzo reports that 92% of the backlog has already been sold to final clients, ensuring a stable revenue stream, with scheduled deliveries expected to continue until 2026.

Sanlorenzo reaffirmed its guidance for 2023, predicting double-digit growth in all main metrics. The backlog as of March 31, 2023, is estimated to be around €700 million for the current year.

The first quarter of 2023 also saw Sanlorenzo make strategic investments, allocating 40% of its organic net investments to product development and sustainability projects focused on fuel cell technologies powered by green methanol. A further 47% was allocated to expanding production capacity, and in March, the also company acquired a 49% stake in Sea Energy S.r.l., followed by an additional 33% stake in Duerre S.r.l. in May, increasing its majority stake to 66%.

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