SANLORENZO 2005 - 2015: 10 EXTRAORDINARY YEARS

Posted Date: April 22, 2015     By: Sanlorenzo S.p.A.

The Sanlorenzo shipyard, founded in 1958 in Viareggio from Giovanni Jannetti, was acquired in 2005 by Massimo Perotti who picked up the baton from the founder, reopening in Viareggio a new production site and a new division for the production of superyachts in metal, in addition to the existing Ameglia yard.

"In a flourishing industry like the large motoryacht one - continues Massimo Perotti - but also subservient to the logic of large numbers and the industrialization of the product, I was directed to Giovanni Jannetti’s brand as one of the last, authentic expressions of exclusivity, a separate world that I do not hesitate to call atelier of Made in Italy yachts. It was the exact dimension I was looking for, elitist and exquisitely crafted. "

Today, after the first 10 years of management, of success, of struggles with an increasingly global and difficult market, relentless innovations and research, manic quality, supported by the confirmation of incomparable image and personality in the international motoryacht production, the stocktaking can really be more than satisfactory.

Since 2005 the yard has experienced an impressive unparalleled worldwide growth, while maintaining its strong focus on the total customization of products, designed to meet the needs of each individual owner.

The development path of Sanlorenzo in the decade 2005 -2015

 

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Turnover (M / €)

57

105

130

198

181

195

218

169

159

208

Ebitda(M / €)

3.7

9.0

11

24

17

17

28.5

15.1

16.5

20.7

Personnel   Direct

90

129

165

218

206

213

200

180

170

200

Personal Indirect but exclusive SL

 Total Staff   (N)

260

 

 350

471

 

600

635

 

800

742

 

960

206

 

860

213

 

860

660

 

800

620

 

800

590

 

760

730

 

930

 

How it is easily perceivable by the previous table, from 2004 to 2011 revenues increased with a CAGR of 27.42%, rising to the threshold of € 200 million. After two years of stagnation (2012-2013) due to worsening of the crisis in the European markets, in 2014 Sanlorenzo keeps on growing again, bringing the turnover to 208 million, an increase of about 30%. In parallel profit also grew to € 3,7 million, in total countertrend to the main European competitors representing the biggest boatyards in the world. And even in the difficult years of the deepest economic crisis, that affected the whole Europe, the activities of the yard remained very lively, either with very high production values, and with EBITDA figures well above to those in the industry, representing a real black swan in the European and worldwide boatbuilding industry, which recorded the stop, if not the closure of dozens of yards of great historical tradition.

In the recent decade Sanlorenzo introduced eleven important and significant new models, full of innovation and cutting-edge solutions, but always defined by the Sanlorenzo style.

The yard has launched its semi displacement hull range in composite material, with three units:

-       SD 92 - 27 meters

-       SD 112 - 33 meters

-       SD 126 - 38 meters

Innovated its traditional flying-bridge range of planing hull motoryachts:

-       SL 76 - 23 meters – news 2016

-       SL 86 - 26 meters – news 2015

-       SL 96 - 28 meters

-       SL 106 - 32 meters - winner of the Italian Innovation ADI Award in 2011, awarded in Quirinale Palace by the past President of Italian Republic Mr. Giorgio Napolitano

-       SL 118 - 37 meters.

Sanlorenzo in 2007 entered in the metal superyacht segment:

-       delivered the first 40 Alloy, the extraordinary 40 meters with aluminium hull and superstructure, capable of 27 knots and equipped with the innovative terraces, a cutting-edge solution, then adopted by many yard (9  units sold).

-       Launched its first 46 meters displacement hull in steel, 46Steel, of which 7 units have been sold.

-       Began the construction of the 52 Steel a 52 meters in steel which will be launched in 2016.

-       Entered the explorer niche with Exp 460, 42 meters which will be launched in July 2015 and will be exhibited as world premiere at the 2015 Monaco Yacht Show.

Despite all these innovations, Sanlorenzo have always been formally respectful of the balanced and sober lines of the tradition of the yard

Sanlorenzo has continued throughout the period to propose its production as a boutique of yachting, with the construction of always-unique pieces, all tailored on the needs and desires of each individual owner.

The peculiarity of Sanlorenzo is to have been able to maintain and develop over the time its core values: maximum customization; stable lines above the mode, without force or extreme formal languages; high capacity and tradition labour, always caring at maximum level details and craftsmanship.

Today, thanks to an cohesive and motivated working group, the patron of Sanlorenzo continues to remain loyal to the philosophy of customization, uncompromising quality and complete dedication to the owner. "In recent years we have contributed to the growth of the brand and managed a season of long-term investment - confirms Perotti - without preceding profit motives to those of the client. To ensure the highest quality and maintain a personal relationship with the individual owner we chose to retain the productive dimension on a human scale, creating an adequate number of boats per year to be able to afford the excellence of luxury, correcting since even the slightest imperfection and taking care of the smallest
detail. "

For Massimo Perotti boating and motoryacht and superyacht production is a universe spanning from exterior design to interior design, ranging from requirements of advanced technologies to more exclusive handicrafts. Intense aesthetic culture and passion for research combined with constant innovation and respect for the tradition, have prompted the entrepreneur to open proactive collaborations with various main players of Italian design, as Rodolfo Dordoni, who designed layout and interiors of the first SL 106 unit, Antonio Citterio who designed the interior of the SD 112 and Flavio Albanese creator of the Exp 460 interior design.

"Pursuing these goals was the main reason – details Massimo Perotti – which pushed me, ten years ago, to acquire a brand that I've always looked at as one of the last, authentic expressions of exclusivity, a world apart, of timeless values. Not surprisingly, there is no Sanlorenzo equal to another, and this result is behind the definition of Sanlorenzo as atelier of Made in Italy yachts. In fact, we realize only boats tailored according to the style and needs of each single owner, a promise that we tied with conviction to our brand because I think it represents at best what we are committed for, every day, for ten years, in our manufacturing divisions. "

Environment is another fundamental and particular value that Massimo Perotti introduced in Sanlorenzo in the past ten years. The position of the yard in the natural park of Monte Marcello- Magra has sharpened that sensitivity, already inherent in his culture, which had led to the certification UNI EN ISO 14001, certifying the achievement of better control of environmental impacts associated with the activities, products and services of the company. The next step was the design of a totally "green" factory, that has slowed down due to the crisis, but that keeps on to be under construction, and which has already been awarded in many international contexts, like the "Belle Classe" of the Monaco Yacht Club. The project was designed by architect Stefano Boeri, which has developed an innovative concept introducing in the context of the industrial site the principles of energy conservation and environmental sustainability through the application of vertical green solutions and a system of water recovery and recycling. The aesthetic result is a seamless integration with the visual and environmental context of the park.

Sanlorenzo is considered one of the most stable and established operators in the superyacht sector and is to be considered at the level of the most renowned superyacht builders in Northern Europe, while in the fibreglass yacht sector has risen to international benchmark for quality, customization, market stability, reliability, design and style.

Sanlorenzo is keeping since long time the second position in the world ranking of the world largest manufacturers of +80’ (24 meters) yachts, annually filed by the Global Order Book of the US magazine ShowboatsInternational.