Sanlorenzo reports strong growth in 2010

Posted Date: July 27, 2011     By: International Boating Industry (IBI)

The Italian yacht-builder saw turnover rise by 8.3 per cent last year to €196m.

Italian superyacht builder Sanlorenzo has reported sales of €196m in 2010, an 8.3 per cent rise over the €181m that was generated during the previous year and a drop of just 1.0 per cent compared to pre-crisis sales in 2008. EBITDA was down by 1.7 per cent to €17.2m.

Sanlorenzo delivered 28 new yachts in 2010 — 19 planing motoryachts from the yard’s Ameglia division and nine planing, semi-displacement, composite and metal motoryachts from its Viareggio division.

The company also placed third in Showboats International's 2010 Global Order Book, a list of yacht builders building yachts of 24m (80ft) or more. It achieved this listing by building 38 hulls with a total length of 1,245m (4,085ft).

Sanlorenzo’s growth in 2010 comes on the back of a relatively strong 2009, when turnover fell by just nine per cent to €181m and EBITDA was strong at €17m. Unlike other yards, Sanlorenzo refused to embark on an aggressive discount policy, relying instead on the strength of its brand.

Lower profits in 2009 were attributed to the depreciation of trade-in boats, which was internationally estimated between 20-25 per cent, says the group.