Sanlorenzo Leaps Value Of Production
Published: Wednesday, 07 September 2016
Italian shipyard 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 turbulent crisis in the 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.
(Photos: Sanlorenzo - 460Exp team)
In particular, 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 profitability 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, a result 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.
(Sanlorenzo Chairman Massimo Perotti)
The company attributed the positive results to three significant factors. One of them is the opening towards new markets, which 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 American region, where a new generation of young yacht Owners is entering the industry.
Another factor is the 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 strategy of the company to its products also spoke volume for the positive result. It produced made-to-measure yachts, realised specifically for each Owner and the yachts come with a classic and elegant design, consolidating as a timeless value. Distribution of the models is through a network of Brand Representatives, consisting of a number of subsidiary companies. This allows Sanlorenzo to have a direct say in the global market, without recurring to mediation and intermediaries.
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, another 50 employees are expected to be hired, reaching a direct workforce of 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 around 1,000. This human resource expansion is a significant investment that the company considered essential in order to strengthen its current placement and to maintain a growing trend.
To reach its goals, Sanlorenzo is following a policy of expansion of its production sites, starting from the original Ameglia shipyard, where the headquarter is 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 fibreglass motoryachts between 78 and 140ft.
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 metres (30,000 indoors and 1,800 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 eight superyachts.
(La Spezia facility)
This imposing production site, named Sanlorenzo Superyacht, is building two 460Exp models, two 52-metre units of the new 52Steel model and the new flagship 64Steel, and it will also allow refitting activities on superyachts. The total investment for the 2017-2019 period amounts to €60 mln: €20 mln in new products and €40 mln in assets.
After the SL86 success, Sanlorenzo completes the renewal of its entry-level fibreglass, planing hull range with SL78.
Sanlorenzo is committed to giving a new shape to its future maintaining its tradition of successes based on elegant and smooth lines that characterise 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.
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 optimise width and mechanical characteristics.
Along with these new solutions, Sanlorenzo keeps its most appreciated strong points, like the rectangular two-metre beds, the large shower box and the flying bridge glass rail astern. SL78 features unmistakable Sanlorenzo external lines, characterised by the large side windows that enlighten the saloon 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.
Two 52Steel models are under construction in the new Sanlorenzo Superyacht site in La Spezia. Sanlorenzo 52Steel combines the classic design with the latest stylistic trends. Its elegant and sober lines and balanced volumes characterise the semi wide-body superyacht. It is equipped with two Caterpillar 3512C of 1,500 kW for a maximum speed of 17 knots. At an economic speed of 11 knots, its maximum range is 4,400 nautical miles.
Interior and exterior spaces of the model are elegant and refined. The rectangular pool is encased by glass panels and creates a focal point astern. The saloon, with its wide windows, is full of natural light. On the upper deck, there is a large living area and a formal dining area indoor and outdoor. The large beach club and the gym characterise 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 nine crew members.
Sanlorenzo has recently sold the first three units of the 64-metre 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 1,500 tons superyacht is powered by two Caterpillar 3516C of 1,771kW or two MTU 16V4000 M63 of 2,000kW that ensure a maximum speed of 17 knots. The layouts are designed on requests and needs of every single Owner, and can count six or seven double cabins, while the crew have nine cabins. The delivery is scheduled in 2019.