During 2009, a year which was possibly the worst ever year for the world economy, and even worse for the yachting industry; Sanlorenzo was the black swan. While the main European and American Groups were showing reductions in turnover of 30/40%, Sanlorenzo was able to limit its turnover decrease to a small 9%, corresponding to € 181 m turnover with € 17 m EBITDA, compared to 2008’s € 198 M turnover with € 24 m EBITDA.

The lower profit was due to the depreciation of the trade-in boats, which in 2009 was internationally estimated between 20% and 25%. It is important to underline that Sanlorenzo didn’t recur to an aggressive discount policy but chose to keep stable prices, to guarantee and preserve the owners’ investment.

Sanlorenzo was able to apply this coherent commercial policy thanks to the strength of its brand:
*Tailor made yachts on owner’s requirements
*Classic and sober design, marking a timeless value
*Steadily rooted European market, but open to new markets
*Direct distribution through the Brand Representative sale network, made of companies in majority owned by Sanlorenzo

Steadily on course in 2010
Thanks to it's competitive advantage and the strength of it's brand, Sanlorenzo, in countertrend with all the yachting industry, has been able to increase its 2010 budget by 5%, foreseeing a 2010 turnover of € 190 m with € 17 m EBITDA.

This financial result has been achieved by delivering 19 planning motor yachts built by the Ameglia Division and 9 planning, semi-displacement, composite and steel superyachts built by the Viareggio Division.

Consolidating and expanding the Human Resources
Sanlorenzo is proud once again in 2010 to have confirmed it's entire workforce with no help by the Redundancy Fund, as was also the case in 2009. Moreover, Sanlorenzo expanded its human resources during 2010, hiring 5 people among managers and executives. The medium-term growth of Sanlorenzo will see the completion of the refurbishment and expansion of the Ameglia yard, as well as the launch of 4 new models during the next 3 years.

Expansion of the Brand Representative Sale network
Current Brand Representative sales offices are located in strategic international yachting locations such as; Monaco, Antibes, Palma de Mallorca, Rapallo, Porto Cervo, Rome, Venice, Hamburg and Sukošan (Croatia). In 2010 new companies where launched in Moscow, Dubai, Mexico City, Caracas and Santo Domingo, with operations on the entire Caribbean area.

Sanlorenzo is currently in negotiations for the opening of a further company in Argentina, called SL Mercosur, from the name of the South America Common Market, with offices in Buenos Ayres. This new venture could also start a local production facitly for GRP planning motoryachts to fulfil the request of the Mercosur area.

2011 News
The SD range of semi-displacement yachts by Sanlorenzo, all styled by Francesco Paszkowski, have become a remarkable sales success. 18 hulls of SD 92, 27 metres, two decks, were delivered in 3 years and 5 are under construction, while 4 hulls of SD 122, 37 metres, three decks, were delivered in 2 years; and 2 are under construction. The latter was prized with the Superyacht Design Award 2010 by an international jury of superyacht owners. To complete the SD range, Sanlorenzo designed and engineered the middle model, SD 106, 32 metres, two decks, which will be officially introduced to public and press during the autumn shows of 2012.

The Sanlorenzo flagship
The 46 Steel, the largest yacht ever built by Sanlorenzo and the first in steel and aluminium, was launched in February 2010. She was born as 44 Steel, and then changed to 46 Steel, to better balance her exterior lines. She is a semi-widebody, three deck bulbous bow superyacht of 499 GT, to remain under the 500 GT Solas limit. In 2011 three 46 Steel hulls will be delivered, each customized to her owner’s desires. The company is also currently negotiating contracts for three more hulls for the 2012 season.

SanLorenzo Spa
Mario Gornati
Tel. +39 0187 618 413
m.gornati@sanlorenzoyacht.com
www.sanlorenzoyacht.com