Sanlorenzo leaps forward
Monday, September 12, 2016 1:13 PM
- The only shipyard in the world whose turnover increased since the beginning of the crisis in 2008
- Value of production 2016 €250 mln, with an Ebitda of 25 mln (+20%)
- Strengthening in the EMEA market and entrance in the APAC market.
- Expansion of productive sites and acquisition of San Marco shipyards in La Spezia
- Two 52 metres sold, in addition to the 64 metres flagship, under construction in La Spezia.
Sanlorenzo’s production and turnover progression, with the exception of an inflection in 2012 and 2013, registered a net growth since 2004, year of the shipyard acquisition, with a 16 % CAGR (Compound Average Growth Rate), constantly growing during the turbolent crisis years that followed 2008 (two-thirds of the period), and reaching, in 2016, a result 26% higher than that of 2008, a golden year in the global nautical business.
In particolar, Sanlorenzo managed to increase its value of production in 2016 by 15% with respect to 2015, reaching €250mln (forecast), and was able to keep its profitabilty in spite of the difficult years and lasting crisis, confirming also for 2016 a €25 mln Ebitda (forecast), equivalent to a 20% growth with respect to the €21 mln of 2015, an resulting from the production of 28 yachts, 40% more than the previous year.
The budget forecast for 2017 appears to be even more encouraging, with a turnover reaching €275 mln and an Ebitda increasing by 12% to €28 mln, thanks to a 35% increase of the production, with 38 yachts.
These more than positive results have been made possible by two significant factors:
- The opening towards new markets, which today are positively responding to the yachting sector, specifically the EMEA area (Europe, Middle East, Africa) and the APAC area (Asia-Pacific), and the consolidation in the Americas region, where a new generation of young yacht owners is entering the yachting world.
- A significant increase in the average length of yachts and the entrance in the world of superyachts and megayachts, with a consequent increase in the value of the yachts sold, mainly in the production high end on the new markets.
The following strong points of Sanlorenzo remain valid at a global level:
- Made-to-measure yachts, realized specifically for each owner
- Classic and elegant design, consolidating as a timeless value.
- Distribution through a network of Brand Representatives, consisting in a number of subsidiary companies , that allows Sanlorenzo to control directly the global market, without recurring to mediation and intermediaries, a unique case in the yachting sector.
Consolidation and expandion of human resources
Thanks to its expansion politics, the solidity of its strong points, continuous innovation, the dimensional growth of model and the acquisition of new production units, Sanlorenzo is proud to be the only company in the nautical sector at a global level to have not only maintained intact the dimension of its workforce, without exploiting the Redundancy Fund. Against the flow in the nautical and in most of other industrial business, Sanlorenzo has been able to increase the number of its employees in 2015/2016, hiring 50 new people at different levels.
In 2016/2017 more 50 employees are expected to be hired, reaching a direct workforce or 300 units and, along with the 700 workers of Sanlorenzo’s subcontractors, the total number of people working everyday on the yacht construction and company management is 1000.
This human resource expansion is a significant investment that the company considered essential in order to straighten its current placement and maintain a growing trend.
Production sites expansion and investments
To reach its goals, Sanlorenzo is following a policy of expansion of its production sites, starting from the original Ameglia shipyard, where the Headquarters are located. Its area and volume will double by 2018, in line with a project by Studio Archea Associati of Florence, famous for designing Cantine Antinori in San Casciano, and the requalification of the San Lorenzo marketplace in Florence. The Viareggio premises will acquire two new sheds and a large external area that will allow for the production of 20 to 50 fiberglass motoryachts between 78’ and 140’.
The big step is represented by the acquisition of the Cantieri San Marco in La Spezia, located in the gulf, which houses large sheds deep docks, and cranes for a total surface of 50.000 square meters (30.000 indoors and 1800 dedicated to the offices). All the production of metal superyachts (40Alloy, 460Exp, 46Steel, 52Steel, 64Steel, and the upcoming 67Steel) has been concentrated in this shipyard, with a production capacity of 8 superyachts. This imposing production site, named Sanlorenzo Superyacht, is currently building two 460Exp models, two 52-meter units of the new 52Steel model and the new flagship 64Steel, and it will also allow to carry out refitting activities on superyachts. The total investment for the 2017-2019 period amounts to €60 Millions: €20 Millions in new products and €40 Millions in assets.
Global Order Book ranking
Since 2014, Sanlorenzo has been ranking second place in the Global Order Book, the annual list of orders of the international superyacht builders (for yachts over 80’, 24 meters) published by the American magazine Showboats Interrnational, after maintaining the 3rd position in the past 4 years. In 2016, its position has been reconfirmed with 54 new projects and 1891 meters under construction, above Ferretti Group (which includes 5 brands, Ferretti Yachts, Custom Line, Crn, Pershing, Riva), that has 54 new projects but 1791 meters under construction, and just behind Azimut-Benetti group (which includes Azimut Yachts, Azimut Grande, and Benetti) with 2580 meters under construction but with 63 new projects, only 9 more than Sanlorenzo that operates with one brand.
SL78, the new entry level 2016
After the SL86 success, Sanlorenzo completes the renewal of its entry level fiberglass, planning hull range with SL78.
Sanlorenzo is committed to give new shape to its future maintaining its tradition of successes based on elegant and smooth lines that characterize every Sanlorenzo yacht.
In these last years, the markets – especially the American and Asian markets – express different needs and requests, like larger windows in the superstructure, larger openings in the hull and the lifting platform astern. Sanlorenzo has been able to fulfill all those requests without compromising its strong points, like highest quality, elegance, and bilance lines.
The technical features on the SL78 are the same of the SL86 and of most of the largest SL line motoryachts up to the flagship SL118, without foregoing quality: floating floors and ceilings to reduce vibrations and noises; vacuum infusion process to produce the hull and superstructure in order to optimize width and mechanical characteristics.
Along with these new solutions, Sanlorenzo keeps its most appreciated strong points, like the rectangular 2-meter beds, the large shower box, the flying bridge glass rail astern. SL78 features unmistakable Sanlorenzo external lines, characterized by the large side windows that enlight the salon and the dining area. The flying bridge offers one of the wider and best arranged spaces in its category: it is free of tender which is housed in the garage, the only motoryacht of its category that is equipped with this superyacht kind of solution.
52m Steel and 64m Steel, the Sanlorenzo flagship
Two 52Steel models are under construction in the new Sanlorenzo Superyacht site in La Spezia.
Sanlorenzo 52Steel combines the classic Sanlorenzo design with the latest stylistic trends. Elegant and sober lines and balanced volumes characterizes this semi wide-body superyacht, under 500 GT. It is equipped with two Caterpillar 3512C of 1500 kW for a maximum speed of 17 knos. At an economic speed of 11 knots its maximum range is 4400 nautical miles.
Interior and exterior spaces are elegant and refined. The rectangular pool is encased by glass panels and creates a focal point astern. The salon, with its wide windows is full of natural light. On the upper deck is placed a large living area and a formal dining area indoor and outdoor. The large beach club and the gym characterize the lower deck astern area.
The owner’s cabin is located at bow on the main deck and the four guest cabins are placed on the lower deck. The captain’s cabin and office are next to the wheelhouse on the upper deck. The cabins can host 10-12 guests and 9 crew members.
Sanlorenzo has recently sold the first 3 units of the 64-meter 64Steel model, the new flagship of its range. The 64Steel features elegant exterior lines and innovative solution for the interiors. The assembly of the first components of the 64Steel – the largest superyacht built so far - has already started in the new production site in La Spezia, where Sanlorenzo superyachts in metal are built This 1500 tons superyacht is powered by two Caterpillar 3516C of 1771 kW or two MTU 16V4000 M63 of 2000 kW, that ensure a maximum speed of 17 knots. The layouts are always designed on the requests and needs of every single owner, and can count six or seven double cabin, while the crew have 9 cabins. The delivery is scheduled in 2019.