Sanlorenzo: backlog as at 30 september 2020 grows €670 million
Friday, October 2, 2020 7:09 PM
Ameglia (SP), 2 October 2020 – The managing directors of Sanlorenzo S.p.A. (“Sanlorenzo” or the “Company”) have examined and hereby announce some consolidated preliminary management results as at 30 September 2020.
Backlog as at 30 September 2020 is estimated at around €670 million, thanks to €104 million total value of new contracts signed during the third quarter, which have allowed the backlog to grow by 18% compared to €566 million as at 30 June 2020. Compared with the figure as at 31 August 2020 (€613 million), the backlog shows an increase of €57 million
(+9%), in the absence of the boat shows traditionally scheduled during the month of September.
In particular, backlog as at 30 September 2020 includes approximately €440 million referred to the current financial year, corresponding to around 98% of Net Revenues New Yachts expected for 2020 (90% as at 30 June 2020), and around €230 million referred to the following financial years. Such information enables the Company’s management to confirm the outlook for the current financial year, with Net Revenues New Yachts and EBITDA substantially in line with the previous year.
The Group’s participation in the Genoa Boat Show scheduled from 1 to 6 October 2020 has been expanded on the previous years’ events, with 14 between Sanlorenzo and Bluegame models on show.
During a press conference held today, the new SX112 and BGX60 models have been presented. These two models contributed to the growth in backlog recorded as at 30 September 2020, even before the presentation.
The further marketing and commercial initiatives supporting order intake are continuing. During 4 weekends in September and October, the Company’s site in La Spezia is hosting “Sanlorenzo Elite Weekends”, effectively a private show of the entire range of Sanlorenzo and Bluegame products, which are also available to current and potential new customers for sea trials. This formula has been a significant success, confirming the Company’s effective reaction to the cancellation of the boat shows in Cannes and Monaco.
Massimo Perotti, Executive Chairman of the Company, stated:
«We are really pleased with the steadily growing trend of our backlog, that enables us to cover nearly the totality of Net Revenues New Yachts expected for 2020. This result assumes further importance given the current global economy context, once again demonstrating the validity of Sanlorenzo’s business model, which has proven its resilience in the different phases of the economic cycle.»