(Alliance News) - Sanlorenzo Spa reported Thursday that in the first half of the year it made a group net profit of EUR39.0 million, up 20% from EUR32.5 million in the first half of 2022.

Net revenues from the sale of new yachts amounted to EUR388.4 million, up 13 percent from EUR344.9 million in the first half of 2022, led by the excellent performance of the Superyacht and Bluegame Divisions and with the Yacht Division's performance in line with the targets set for the full current year.

Geographically, robust growth in Sanlorenzo's traditional markets, especially in Europe, as well as interesting development in the MEA area.

Ebitda is EUR67.7 million, up 20 percent from EUR56.3 million in the first half of 2022, with a margin on net new revenues up 110 basis points to 17.4 percent.

Ebit is EUR53.1 million, up 20 percent from EUR44.3 million in the first half of 2022

Net cash position is EUR140.5 million as of June 30, further improving from EUR91.1 million as of June 30, 2022 and EUR100.3 million as of December 31, 2022.

Order intake in the first half was EUR351.5 million, which brings the backlog as of June 30 to EUR1.42 billion, up from EUR1.40 billion as of June 30, 2022.

The company, therefore, let it be known that it has revised its full-year guidance upward, with net new revenues expected in the EUR830-850 million range, 89 percent covered by the share of the current order book, which in its entirety is 90 percent sold to end customers.

Sanlorenzo's stock is in the green by 1.3 percent at EUR35.40 per share.

By Chiara Bruschi, Alliance News reporter

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