<a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>’s Board of Directors has approved the company’s periodic financial information for the first quarter of 2026, alongside its 2026-2028 business plan, reporting continued order intake growth and stable profitability during the first three months of the year.<img src="https://photo-assets.superyachttimes.com/photo/302095/image/large-5c81b855a83c4129bca77da30b2ee896.jpg" data-gid="gid://syiq/Photo/302095">Consolidated net revenues from new yachts<a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> reported €222.1 million in net revenues for new yachts in the first quarter of 2026, up 4 percent compared with €213.5 million in the same period last year. The result was supported by the performance of its Superyacht and <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a> divisions, as well as by growth in the Americas.The Yacht Division remained the group’s largest business unit, generating €104.6 million in net revenues new yachts. This accounted for 47.1 percent of the group total and was broadly in line with Q1 2025, when the division generated €104.7 million.The Superyacht Division recorded the strongest divisional growth during the quarter, with net revenues new yachts rising 14.1 percent to €74.2 million. The division accounted for 33.4 percent of the group total, supported by what Sanlorenzo described as a robust backlog and continued demand, despite long waiting lists for available delivery slots.<a data-gid="gid://syiq/Company/5648" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bluegame (Company)">Bluegame</a> generated €18.3 million in net revenues new yachts, down 8 percent compared with Q1 2025. <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> attributed the decline to a more challenging market environment, particularly in the segment below 24-metres, while noting that the brand had continued to safeguard profitability.<a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a>, which became part of the <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo Group</a> in 2024, generated €25 million in net revenues new yachts, up 5 percent year-on-year. The division accounted for 11.3 percent of the group’s total net revenues new yachts during the quarter.<img src="https://photo-assets.superyachttimes.com/photo/309290/image/large-bbfa5629e30fe9af8305cc907df9a4c3.jpg" data-gid="gid://syiq/Photo/309290">Geographical performanceEurope remained <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>’s largest market in Q1 2026, generating €130.3 million in net revenues new yachts and accounting for 58.6 percent of the total. This was broadly in line with the same period of 2025, when the region generated €130.1 million.The Americas recorded €52.3 million in net revenues new yachts, up 18.7 percent year-on-year and accounting for 23.5 percent of the group total. <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> said the increase was supported by further penetration into new markets in Central and South America.The Asia-Pacific region generated €23.4 million in net revenues new yachts, accounting for 10.5 percent of the total. This represented an 11 percent decline compared with Q1 2025, which the company described as a natural decrease following a strong fourth quarter of deliveries.The Middle East and Africa recorded €16.2 million in net revenues new yachts, up 24 percent year-on-year and accounting for 7.3 percent of the total. The company linked the increase to order intake recorded in previous quarters.<img src="https://photo-assets.superyachttimes.com/photo/320979/image/large-6a4c793068d3c10bc61eebd87f6619d8.jpg" data-gid="gid://syiq/Photo/320979">Consolidated operating and net results<a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>’s EBITDA amounted to €38.5 million in Q1 2026, up 4 percent compared with €37 million in the first quarter of 2025. The EBITDA margin stood at 17.3 percent of net revenues new yachts, unchanged from the same period last year.EBIT reached €27.9 million, up 4 percent year-on-year, with an EBIT margin of 12.6 percent. Group net profit rose 5.1 percent to €22.3 million, compared with €21.2 million in Q1 2025, with a margin of 10.1 percent.Consolidated balance sheet and financial results<a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> reported a net cash position of €22.9 million as at 31 March 2026, compared with net cash of €20.1 million at the end of 2025 and net debt of €28.1 million as at 31 March 2025.Net working capital stood at €118.9 million, compared with €99.8 million as at 31 December 2025 and €119.6 million at the end of the first quarter of 2025. Sanlorenzo said net working capital remained broadly stable on a comparable seasonal basis.Organic net investments totalled €8.7 million during the quarter, up 48.4 percent compared with the same period last year and equal to 3.9 percent of net revenues new yachts. Around 86 percent of these investments were expansionary, mainly linked to the development of new models and product ranges, as well as the expansion of production and distribution capacity. <img src="https://photo-assets.superyachttimes.com/photo/340217/image/large-f25065769171de2f892de12fc45091e6.jpg" data-gid="gid://syiq/Photo/340217" style="box-sizing: inherit; border: 0px; font-family: &quot;Open Sans&quot;, sans-serif; position: relative; max-width: 100%; margin: 1rem 0px; color: rgb(0, 0, 0); font-size: 13.6px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Backlog<a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>’s order backlog stood at €1.23 billion as at 31 March 2026, up 2.3 percent compared with €1.20 billion at the same point last year. Of this total, €724.7 million relates to 2026, representing 72 percent of the mid-point of the company’s 2026 net revenues new yachts guidance, while €501 million relates to subsequent years.The company stated that 90 percent of the backlog has already been sold to final clients. Net backlog reached €1 billion, compared with €984.3 million as at 31 March 2025.Order intake for the first three months of 2026 reached €223.2 million, up 25.4 percent compared with €178.1 million in Q1 2025. <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> said this marked the seventh consecutive quarter of order intake growth.Read: <a data-gid="gid://syiq/Article/62646" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo reports an 88% client-committed backlog valued at €1.02 billion (2025-02-14 14:15:00 +0100)">Sanlorenzo reports an 88% client-committed backlog valued at €1.02 billion</a><img src="https://photo-assets.superyachttimes.com/photo/268405/image/large-0fe4b56c7fa5bf4533eb5955ddd1c1c0.jpg" data-gid="gid://syiq/Photo/268405">2026-2028 business planAlongside its Q1 2026 results, <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> presented its 2026-2028 business plan, titled Tomorrow’s Timeless. The plan sets 2026 guidance for net revenues new yachts of between €980 million and €1.02 billion, with EBITDA expected between €180 million and €192 million.Looking ahead to 2028, <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> is targeting a compound annual growth rate of at least 6 percent for net revenues new yachts, an EBITDA margin of at least 19 percent and an EBIT margin of at least 14.5 percent. The company said the plan remains focused on measured growth, value over volume and the preservation of brand exclusivity.Massimo Perotti, chairman and CEO of <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>, concluded: “We will continue to deploy capital selectively to drive innovation, elevate the owner experience and strengthen brand positioning, while enhancing profitability and long-term shareholder returns.”

Sanlorenzo reports €223m order intake, up 25% in Q1 2026

Massimo Perotti, CEO of Sanlorenzo

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Sanlorenzo shipyard facility in Ameglia, Italy 

Nautor Swan facility, Boatbuilding Technology Centre (BTC) in Pietarsaari, Finland

Sanlorenzo fleet

Sanlorenzo La Spezia shipyard

Sanlorenzo reports Q1 2026 results, with order intake up 25.4 percent and backlog reaching €1.23 billion.

The <a data-gid="gid://syiq/Company/8923" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Virgin Islands Shipping & Maritime Authority (Company)">Virgin Islands Shipping and Maritime Authority (VISMA)</a> has launched a new Yacht Engaged in Trade (YET) programme, providing British Virgin Islands (BVI)-flagged superyachts with a formal path to combine private use with limited commercial chartering in Greek, Monaco and French waters.The certification, which comes under a newly published <a data-gid="gid://syiq/Company/8923" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Virgin Islands Shipping & Maritime Authority (Company)">Virgin Islands Shipping and Maritime Authority (VISMA)</a>, only applies to BVI-flagged yachts measuring 24-metres and above.<img src="https://photo-assets.superyachttimes.com/photo/285871/image/large-8fcbfd6ecd33123efe76d4c151e81472.jpg" data-gid="gid://syiq/Photo/285871">According to <a data-gid="gid://syiq/Company/8923" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Virgin Islands Shipping & Maritime Authority (Company)">VISMA</a>, owners may retain their Pleasure Certificate of British Registry while taking on a temporary Yacht Engaged in Trade (YET) certificate for the duration of each charter period, for up to a maximum of 84 days per year. Once the charter concludes, the yacht's pleasure certificate is reinstated without requiring conversion to full commercial registration.<a data-gid="gid://syiq/Company/8923" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Virgin Islands Shipping & Maritime Authority (Company)">VISMA</a> also stated that owners are no longer required to leave European Union waters to complete new import or export formalities when switching between private and charter use.&nbsp;Under the programme, yachts may operate on either basis during the 18-month Temporary Admission period without further customs formalities, provided the relevant conditions are met. Yachts with VAT-paid status or in Free Circulation are not subject to the 18-month limit.<img src="https://photo-assets.superyachttimes.com/photo/363128/image/large-9de6013ee3a3b56cf02c66b85dc42db8.jpg" data-gid="gid://syiq/Photo/363128">The programme is intended for yachts already operating to a commercial standard. To qualify, vessels must measure at least 24-metres in load line length, hold class certification and comply with the Red Ensign Group Yacht Code, the Maritime Labour Convention, the International Safety Management Code and the International Ship and Port Facility Security Code.Furthermore, <a data-gid="gid://syiq/Company/8923" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Virgin Islands Shipping & Maritime Authority (Company)">VISMA</a> verifies compliance through a survey before issuing a Yacht Engaged in Trade Certificate of Compliance, which must be held before each charter period.Charters are limited to 84 days annually and may carry no more than 12 passengers. For non-VAT-paid yachts, charters can currently only commence in Greek, Monaco or French waters. During charter periods, yachts operate under commercial requirements and remain subject to Port State Control inspections under the Paris Memorandum of Understanding.Commenting on the programme, Business Development Manager at <a data-gid="gid://syiq/Company/8923" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Virgin Islands Shipping & Maritime Authority (Company)">VISMA</a>, Georgios Bazos, said: "This gives BVI-flagged yachts operating in Europe the opportunity to charter for part of the year while keeping their private registration for the rest. It's a natural next step for the registry, and one more option for owners who want flexibility without added complexity."

VISMA launches 84-day European charter programme for BVI-flagged superyachts

VISMA has launched a new programme, allowing BVI-flagged superyachts up to 84 days of commercial chartering in selected European waters. 

Plymouth-based boat refit company Yacht Solutions Europe has gone into liquidation, with debts of more than £600,000 likely to remain unpaid.<img src="https://photo-assets.superyachttimes.com/photo/399628/image/large-90cdcccefd37fd95c414dc2c921b672b.jpg" data-gid="gid://syiq/Photo/399628">Yacht Solutions Europe focused on yacht refit and repairs, with services including engineering, retrofitting, carpentry, upholstery and upgrades. They worked on projects worldwide and opened a base in Florida, USA, in 2023.Yacht Solutions Europe was founded in 2021 by two former <a data-gid="gid://syiq/Company/1912" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Princess Yachts (Company)">Princess Yachts</a> employees, Paul Eccles and Dave Watson, after the collapse of a previous business, Yacht Solutions Worldwide Ltd.&nbsp;The assets were sold to Yacht Solutions Europe in a pre-pack deal and was dissolved in 2024, leaving debts of more than £282,000 unpaid, with the company now entering creditors’ voluntary liquidation.<img src="https://photo-assets.superyachttimes.com/photo/399629/image/large-a78e5de8571b860d8e0ffc83ed261014.jpg" data-gid="gid://syiq/Photo/399629">Documents filed on Companies House show assets of about £18,000 which will be used to pay nine employees and the pension scheme, however there is less than £1,000 left for other creditors, which include more than £176,000 owed to HM Revenue and Customs, nearly £85,000 owed to a lender, around £160,000 owed to six other banks and institutions and £82,500 owed to workers as unsecured creditors.There are 21 trade creditors claiming a combined £34,700, while the American arm Yacht Solutions USA is claiming £71,000. Yacht Solutions Europe’s statement of affairs also revealed that an estimated £608,522 will end up being unpaid.Steve Henson, Managing Director at Devon’s Castle Hill Insolvency, has been appointed joint-liquidator.

Yacht Solutions Europe enters liquidation

Yacht Solutions Europe has gone into liquidation, with debts of more than £600,000 likely to remain unpaid.

Yacht Solutions Europe enters liquidation with more than £600k unpaid debt

<a data-gid="gid://syiq/Company/2948" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Van der Valk Shipyard (Company)">Van der Valk Shipyard</a> has announced the appointment of Evan Kortmann as Chief Executive Officer, succeeding Enrico Theuns, who has led the company since 2023.<img src="https://photo-assets.superyachttimes.com/photo/399351/image/large-0b3b67f3579803bdd2cecd343234633d.jpg" data-gid="gid://syiq/Photo/399351">Theuns was originally appointed as CEO through a planned three-year transition following the retirement of founder Wim van der Valk in April 2024. During his tenure, <a data-gid="gid://syiq/Company/2948" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Van der Valk Shipyard (Company)">Van der Valk Shipyard</a> expanded into the 30 metre segment and further strengthened their position in the superyacht market.&nbsp;Read more: <a data-gid="gid://syiq/Article/60237" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Van der Valk Shipyard announces retirement of founder and management buyout (2024-04-22 09:30:00 +0200)">Van der Valk Shipyard announces retirement of founder and management buyout</a><img src="https://photo-assets.superyachttimes.com/photo/314045/image/large-e3b7cc6745248f659ccfc2d9b2962713.jpg" data-gid="gid://syiq/Photo/314045">“Leading <a data-gid="gid://syiq/Company/2948" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Van der Valk Shipyard (Company)">Van der Valk Shipyard</a> over the past three years has been a rewarding experience,” commented Enrico Theuns. “I am proud of what we have accomplished together and grateful to our employees, clients, co-makers and partners for their commitment and support throughout this period.”Evan Kortmann joins the management team alongside Technical Director Bram Kooltjes and Commercial Director Yoeri Bijker. Theuns will remain involved during the coming months to &nbsp;ensure a smooth transition and support the handover of his responsibilities.Kortmann joins <a data-gid="gid://syiq/Company/2948" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Van der Valk Shipyard (Company)">Van der Valk Shipyard</a> from <a data-gid="gid://syiq/Company/434" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Balk Shipyard (Company)">Balk Shipyard</a> where he acted as Chief Executive Officer following the semi-retirement of Daan Balk in 2023. Evan joined Balk the year prior as Chief Commercial Officer before transitioning to CEO.&nbsp;Read more: <a data-gid="gid://syiq/Article/58021" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Balk Shipyard appoints Evan Kortmann as CEO as Daan Balk steps down (2023-07-04 16:45:00 +0200)">Balk Shipyard appoints Evan Kortmann as CEO as Daan Balk steps down</a><img src="https://photo-assets.superyachttimes.com/photo/351424/image/large-efe5e4f30ffe75940f3be9e197745b18.jpg" data-gid="gid://syiq/Photo/351424">“<a data-gid="gid://syiq/Company/2948" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Van der Valk Shipyard (Company)">Van der Valk Shipyard</a> has built a strong international reputation for delivering high-quality custom yachts,” explained Kortmann. “Our focus on fully custom yachts between 200 and 500 GT allows owners to create a yacht that reflects their individual requirements, while benefiting from the experience and craftsmanship of our team.”“I look forward to working with our clients, colleagues and partners as we continue developing the company and delivering yachts that meet the highest standards of quality and craftsmanship.”

Evan Kortmann appointed CEO of Van der Valk Shipyard

Van der Valk Shipyard has announced the appointment of Evan Kortmann as Chief Executive Officer.

Van der Valk Shipyard appoints Evan Kortmann as CEO

<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group (TISG)</a> has been granted 60 days to submit its final restructuring plan after the Court of Florence formally opened proceedings under Article 44 of Italy's Crisis and Insolvency Code.<img src="https://photo-assets.superyachttimes.com/photo/306419/image/large-23e9c0556425fdb09d6ac0efd3046cf3.jpg" data-gid="gid://syiq/Photo/306419">The court approved the company's application, filed on 1 July, and appointed three judicial commissioners to oversee the process. In its order, the court said <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG's</a> proposed restructuring appears to be structured with the objective of preserving the company as a going concern.The company said business activities will continue as normal under the protection of court-ordered measures that prevent creditor enforcement actions during the restructuring. The 60-day deadline may be extended by the court if necessary.<img src="https://photo-assets.superyachttimes.com/photo/299411/image/large-fafd2b9bd13d4cf6c4cf377a2ccb8a27.png" data-gid="gid://syiq/Photo/299411">The filing marks a further step in <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG’s</a> restructuring process after the company said it could no longer pursue a turnaround solely within Italy’s negotiated settlement framework. Its board resolved on 30 June to seek protection under Article 44, with the application filed the following day.Read: <a data-gid="gid://syiq/Article/66451" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TISG reports over €178 million net financial debt in latest restructuring update (2026-07-01 09:15:00 +0200)">TISG reports over €178 million net financial debt in latest restructuring update</a>In a recent market update, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> disclosed consolidated net financial debt of approximately €178.7 million and €266.8 million in overdue liabilities as of 31 May 2026. The company also confirmed that accumulated losses had <a href="https://www.superyachttimes.com/yacht-news/tisg-enters-restructuring-phase-share-capital-below-legal-minimum" target="_blank">reduced its share capital below the legal minimum</a> required under Italian law.<img src="https://photo-assets.superyachttimes.com/photo/330852/image/large-4bf3eaa2517d3433bc0352c08e9306b0.jpg" data-gid="gid://syiq/Photo/330852">Read more:&nbsp;<a data-gid="gid://syiq/Article/65905" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group secures court protection amid company restructuring (2026-04-21 09:30:00 +0200)">The Italian Sea Group secures court protection amid company restructuring</a>Despite missed loan repayments, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> said its lending banks have not accelerated outstanding borrowings while restructuring negotiations continue. The company has also received a €25 million interest-free shareholder loan from controlling shareholder GC Holding to support liquidity during the process.<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a>, which owns the <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a>, <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a>, <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> and <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> brands, said it will continue operating its new-build and refit businesses while it prepares the restructuring proposal.

TISG granted 60 days to file restructuring plan

The Italian Sea Group (TISG) has been granted 60 days to submit its final restructuring plan.

French catamaran builder <a data-gid="gid://syiq/Company/7778" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fountaine Pajot (Company)">Fountaine Pajot</a> has announced a planned leadership transition, with Chief Executive Officer Nicolas Gardies set to retire in 2027 after overseeing the company's development for several years.<img src="https://photo-assets.superyachttimes.com/photo/336108/image/large-030539c248d560fb467ce7d5ce4321c0.png" data-gid="gid://syiq/Photo/336108">The governance changes come as the group, which includes the <a data-gid="gid://syiq/Company/7778" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fountaine Pajot (Company)">Fountaine Pajot</a> Sailing Catamarans, <a data-gid="gid://syiq/Company/7778" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fountaine Pajot (Company)">Fountaine Pajot Yachts</a> and <a data-gid="gid://syiq/Company/5255" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dufour/Locwind (Company)">Dufour</a> brands, prepares for its next phase of growth ahead of its 50th anniversary.Gardies will progressively transition his responsibilities over the coming months to ensure continuity within the business, with Deputy Chief Executive Officer Mathieu Fountaine tasked by the Board of Directors with supporting the next phase of the group's long-term development strategy.The Board has also appointed Stéven Guedeu as Deputy Chief Executive Officer. Guedeu joined the company in 2011and has held a number of commercial leadership positions in the development of both the <a data-gid="gid://syiq/Company/7778" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fountaine Pajot (Company)">Fountaine Pajot</a> and <a data-gid="gid://syiq/Company/5255" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dufour/Locwind (Company)">Dufour</a> brands. In his new role, he will oversee the group's sales and marketing activities, while supporting the execution of its long-term strategy.After more than 20 years, Deputy Chief Executive Officer Romain Motteau’s role has not been renewed. <a data-gid="gid://syiq/Company/7778" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fountaine Pajot (Company)">Fountaine Pajot</a> stated that Motteau will continue to oversee the group's international activities, while working on a new strategic project, which is expected to be announced in the coming months.<img src="https://photo-assets.superyachttimes.com/photo/370998/image/large-1dccbc7db8fe06ebede4b4e471e38bab.png" data-gid="gid://syiq/Photo/370998">The company has also expanded its Executive Committee, which now comprises Nicolas Gardies, Mathieu Fountaine, Stéven Guedeu, Group Industrial Director Johan Le Saux, Supply Chain &amp; IT Director Vladimir Popov, Chief Financial Officer Betty Roger, Human Resources Director Mélanie Pouplier and Group Purchasing Director Déborah Pligot.In addition, Jordan Sabot has been appointed Communication &amp; Digital Director, succeeding Hélène de Fontainieu following her 32 years with the company. Sabot will be responsible for leading the group's communications strategy, supporting its international development and accelerating its digital transformation.The governance changes follow the publication of <a data-gid="gid://syiq/Company/7778" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fountaine Pajot (Company)">Fountaine Pajot</a>'s first-half fiscal 2025/26 results, during which the group reported revenue of €136.3 million while maintaining positive profitability. The company said it will continue investing in product development, innovation, the energy transition and the continued growth of its Fountaine Pajot Sailing Catamarans, <a data-gid="gid://syiq/Company/7778" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fountaine Pajot (Company)">Fountaine Pajot</a> Yachts and <a data-gid="gid://syiq/Company/5255" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dufour/Locwind (Company)">Dufour</a> brands.

Fountaine Pajot CEO Nicolas Gardies to step down

Fountaine Pajot has announced a planned leadership transition, with Chief Executive Officer Nicolas Gardies set to retire in 2027.

Fountaine Pajot CEO Nicolas Gardies to step down following leadership transition

NextBoat has announced a strategic partnership with <a data-gid="gid://syiq/Company/1312" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax (Company)">MarineMax</a>, under which the US-based boating and yacht retailer will adopt <a data-gid="gid://syiq/Company/5921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Off The Hook Yachts (Company)">NextBoat</a>'s AI-powered wholesale platform for the sale of its trade-in and pre-owned inventory.<img src="https://photo-assets.superyachttimes.com/photo/390341/image/large-be765afb7248df37e9b507deb714d575.jpg" data-gid="gid://syiq/Photo/390341">The agreement marks the first time that an enterprise dealer group has adopted the platform as its preferred wholesale partner. Under the arrangement, pre-owned inventory will be evaluated, marketed and sold through <a data-gid="gid://syiq/Company/5921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Off The Hook Yachts (Company)">NextBoat</a>'s nationwide network of wholesale buyers.<a data-gid="gid://syiq/Company/1312" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax (Company)">MarineMax</a> operates more than 120 locations worldwide and generated more than $2.3 billion in annual revenue. <a data-gid="gid://syiq/Company/5921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Off The Hook Yachts (Company)">NextBoat</a> believes the partnership will increase transaction volumes across its platform while supporting the growth of its marketplace, data and financing businesses.According to the company, the platform is designed to modernise the wholesale and trade-in process through the use of artificial intelligence, real-time transaction data and a digital marketplace. Features include AI-powered vessel valuations, nationwide wholesale bidding, transaction management tools, automated workflows, inventory analytics and integrated financing and insurance solutions.As part of the agreement, <a data-gid="gid://syiq/Company/1312" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax (Company)">MarineMax</a>'s finance and insurance division, Newcoast, will provide financing and insurance services for transactions originating through the platform. <a data-gid="gid://syiq/Company/5921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Off The Hook Yachts (Company)">NextBoat</a> said this has the potential to generate recurring revenue through financing activity and insurance policy renewals as transaction volumes increase.“For 15 years, I've believed the marine industry deserved the same technology, transparency and scale that transformed automotive retail,” said Jason Ruegg, Founder and Executive Chairman of <a data-gid="gid://syiq/Company/5921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Off The Hook Yachts (Company)">NextBoat</a>.&nbsp;“Today, the largest and most respected company in our industry has chosen to deploy the platform we built. We believe that validation speaks not only to what NextBoat has built, but to where this industry is headed.”Ruegg added that the agreement represents the beginning of the enterprise-scale deployment of the company's platform, with financing and insurance expected to become an increasingly important source of recurring revenue.<img src="https://photo-assets.superyachttimes.com/photo/265732/image/large-de8e35a3c695c7a0ca1d7601fa95da7d.jpg" data-gid="gid://syiq/Photo/265732">In May 2026, it was announced that online marine marketplace <a data-gid="gid://syiq/Article/66120" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Off The Hook Yacht Sales to rebrand as NextBoat (2026-05-19 16:45:00 +0200)">Off The Hook Yacht Sales would officially rebrand</a> as <a data-gid="gid://syiq/Company/5921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Off The Hook Yachts (Company)">NextBoat</a> Inc, effective on or about 29 May 2026. The rebrand aimed to reflect the company’s evolution from a traditional yacht brokerage business, into an AI-powered technology platform.As well as this, <a data-gid="gid://syiq/Article/66089" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Off The Hook Yachts completes acquisition of Apex Marine Group (2026-05-14 16:30:00 +0200)">Off The Hook Yachts announced it had completed the acquisition</a> of marine, service and storage company, Apex Marine Group. Off The Hook Yachts believes that the Apex acquisition opens the door for additional partnerships, as it expands both its sales and service platforms.Kyle Langbehn, Executive Vice President and President of Retail Operations at <a data-gid="gid://syiq/Company/1312" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax (Company)">MarineMax</a>, commented: “By integrating <a data-gid="gid://syiq/Company/5921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Off The Hook Yachts (Company)">NextBoat</a>'s advanced technology into our pre-owned retail platform, we believe we can improve efficiency while continuing to deliver exceptional service to our customers.”

NextBoat launches strategic partnership with MarineMax 

NextBoat has announced a partnership with MarineMax for the sale of its trade-in and pre-owned inventory using its AI-powered wholesale platform.

<a data-gid="gid://syiq/Company/434" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Balk Shipyard (Company)">Balk Shipyard</a> has announced the appointment of Niels Lensen as Sales Director, effective 1 July 2026.<img src="https://photo-assets.superyachttimes.com/photo/398953/image/large-abfc046002b73174bf9884b16561e472.jpg" data-gid="gid://syiq/Photo/398953">Bringing more than three decades of experience across the yachting industry, Niels Lensen will be responsible for all commercial activities at <a data-gid="gid://syiq/Company/434" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Balk Shipyard (Company)">Royal Balk Shipyard</a> and is the new primary point of contact for yacht refits, ReCrafts, or class surveys.Lensen has worked across the industry in brokerage, new construction, surveys, management, charter, maintenance and refit roles, both in the Netherlands and the Mediterranean.&nbsp;In 2015, Lensen founded <a data-gid="gid://syiq/Company/4837" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="NL Marine (Company)">NL Marine</a>, a boutique brokerage house operating between the Netherlands and the French Côte d'Azur, as well as previously holding sales directorships for <a data-gid="gid://syiq/Company/104" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Jongert Yachts (Company)">Jongert</a> and <a data-gid="gid://syiq/Company/359" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lengers Yachts (Company)">Lengers Yachts</a> France. <img src="https://photo-assets.superyachttimes.com/photo/398954/image/large-4595b189d7933b2c017c760f19863c4b.jpg" data-gid="gid://syiq/Photo/398954">“<a data-gid="gid://syiq/Company/434" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Balk Shipyard (Company)">Royal Balk Shipyard</a> has long set the standard for serious refit and ReCraftTM work in the Netherlands, and I am honoured to be joining the team,” explained Lensen. “The craftsmanship, the facilities in Urk, the calibre of projects that come through the yard are a compelling combination. I very much look forward to working with clients who share that same passion for doing things properly.”ReCraftTM refers to <a data-gid="gid://syiq/Company/434" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Balk Shipyard (Company)">Royal Balk Shipyard</a>’s registered trademark and reflects their expertise in transforming existing yachts through extensive refit, redesign and technical upgrades, allowing them to restore a yacht to a condition that they believe rivals or even surpasses new-build standards.Lensen will be available throughout the 2026 yacht show season alongside the <a data-gid="gid://syiq/Company/434" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Balk Shipyard (Company)">Royal Balk Shipyard</a> team at the <a data-gid="gid://syiq/Event/336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2026">Cannes Yachting Festival</a>, <a data-gid="gid://syiq/Event/338" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2026">Monaco Yacht Show</a>, <a data-gid="gid://syiq/Event/346" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Metstrade - 2026">Metstrade</a>, <a data-gid="gid://syiq/Event/340" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fort Lauderdale International Boat Show - 2026">Fort Lauderdale International Boat Show</a> and <a data-gid="gid://syiq/Event/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Palm Beach International Boat Show - 2026">Palm Beach International Boat Show</a>.

Royal Balk Shipyard appoints Niels Lensen as Sales Director

Balk Shipyard has announced the appointment of Niels Lensen as Sales Director, effective 1 July 2026.

<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group (TISG)</a> has released an updated market disclosure outlining its financial position as of 31 May 2026, providing further insight into the Italian superyacht builder's ongoing restructuring process.<img src="https://photo-assets.superyachttimes.com/photo/306419/image/large-23e9c0556425fdb09d6ac0efd3046cf3.jpg" data-gid="gid://syiq/Photo/306419">The filing, published at the request of Italian financial regulator Consob, follows <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG's</a> entry into Italy's Negotiated Crisis Settlement procedure in March after the company disclosed internal financial irregularities. It comes weeks after the builder confirmed that accumulated losses had reduced its share capital below the statutory minimum required under Italian law.Read more:&nbsp;<a data-gid="gid://syiq/Article/66150" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TISG enters restructuring phase after share capital falls below legal minimum (2026-05-22 11:15:00 +0200)">TISG enters restructuring phase after share capital falls below legal minimum</a>As of 31 May 2026, the <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG Group</a> reported a consolidated net financial debt of around €178.7 million, including over €154.6 million in bank debt and cash and cash equivalents of approximately €7.5 million. The parent company, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG S.p.A</a>, reported a net financial debt of over €179.6 million.The disclosure also details €266.8 million in overdue liabilities across the group. This comprises over €42.6 million in overdue financial liabilities, over €77.6 million in trade payables, around €98 million owed to factoring companies, over €29.3 million in tax liabilities and over €18.1 million in social security liabilities.<img src="https://photo-assets.superyachttimes.com/photo/278854/image/large-10473eb6d3fdc1c0fbd3a7cdaa4e5d83.jpg" data-gid="gid://syiq/Photo/278854">According to <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a>, although the missed repayment of certain loan instalments entitles its lending banks to declare all outstanding borrowings immediately due, they have not exercised this right while negotiations continue under the court-supervised restructuring process.The company also revealed that it has received 30 payment orders from creditors since entering the restructuring procedure on 16 March, representing claims totalling approximately €2 million. Of these, 22 have been settled for an agreed amount of €408,000, while several others have either been challenged, are under negotiation or will be addressed as part of wider financial restructuring discussions.<img src="https://photo-assets.superyachttimes.com/photo/299411/image/large-fafd2b9bd13d4cf6c4cf377a2ccb8a27.png" data-gid="gid://syiq/Photo/299411">The filing confirms that <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> remains protected by measures granted by the Court of Florence on 20 April, which remain in force until 14 July 2026. The company said these measures continue to stay enforcement actions by creditors covered by the court order while negotiations with lenders and other stakeholders progress.Read more:&nbsp;<a data-gid="gid://syiq/Article/65905" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group secures court protection amid company restructuring (2026-04-21 09:30:00 +0200)">The Italian Sea Group secures court protection amid company restructuring</a>The update also provides further details on the €25 million interest-free shareholder loan granted by <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG's</a> controlling shareholder, GC Holding S.p.A. The company said the funding was introduced after cost overruns across the majority of its yacht construction contracts reduced operating margins and placed significant pressure on cash flow while production continued on vessels under construction.The shareholder loan is subordinated to the company's bank debt and is repayable by 31 December 2032.An Ordinary Shareholders' Meeting has been convened for 22 July 2026 to consider the company's financial position and the measures required to restore its share capital.<img src="https://photo-assets.superyachttimes.com/photo/330852/image/large-4bf3eaa2517d3433bc0352c08e9306b0.jpg" data-gid="gid://syiq/Photo/330852">Moreover, the company’s Board of Directors, which met on 30 June 2026, resolved to file a petition pursuant to Article 44 of Legislative Decree No. 14/2019 (the so-called “domanda prenotativa”), in order to access protective legal measures and safeguard business continuity.The decision follows recent developments in discussion with shipowners, which the company said no longer made it possible to pursue a turnaround solely within the framework of the negotiated settlement procedure. The filing, expected to take place immediately, will allow the company to operate under court protection while preparing a restructuring plan.<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> owns the <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a>, <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a>, <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> and <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> brands, and continues to operate its new-build and refit businesses while the restructuring process remains ongoing.

The Italian Sea Group reports financial debt

The Italian Sea Group (TISG) has released an updated market disclosure outlining its financial position as of 31 May 2026.

TISG reports over €178 million net financial debt in latest restructuring update 

US-based boating and yacht retailer <a data-gid="gid://syiq/Company/1312" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax (Company)">MarineMax</a> has completed the refinancing of its $1.49 billion senior secured credit facilities.<img src="https://photo-assets.superyachttimes.com/photo/265732/image/large-de8e35a3c695c7a0ca1d7601fa95da7d.jpg" data-gid="gid://syiq/Photo/265732">The company has replaced its existing loans with a new financing package designed to lower borrowing costs, increase financial flexibility and extend the repayment deadline to June 2031.The refinancing includes a $950 million inventory financing facility, a $302.5 million term loan, a $150 million revolving credit facility, which replaces a $100 million facility and an $85 million delayed draw mortgage facility, of which $35 million is currently outstanding and replaces the previous $100 million facility.“This refinancing strengthens our financial position by lowering our borrowing costs, extending our maturity and providing additional liquidity to support the continued execution of our long-term strategy,” explained Michael H. McLamb, Executive Vice President, Chief Financial Officer and Secretary of <a data-gid="gid://syiq/Company/1312" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax (Company)">MarineMax</a>.The financings were led by M&amp;T Bank as Administrative Agent and Joint Lead Arranger, along with Wells Fargo Commercial Distribution Finance as Joint Lead Arranger and Floor Plan Agent.“Successfully completing this transaction on improved terms in today’s marine industry environment underscores the strength of our lender relationships and reflects the confidence they have in our operating performance, disciplined capital allocation, healthy balance sheet and management team,” concluded McLamb.&nbsp;<a data-gid="gid://syiq/Article/66058" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax explores potential sale as Donerail raises its bid (2026-05-12 10:45:00 +0200)">In May 2026</a>, Reuters reported that <a data-gid="gid://syiq/Company/1312" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax (Company)">MarineMax</a> was preparing for a potential sale of the company. One potential buyer had raised its offer and one prominent private equity firm was conducting due diligence, with the <a data-gid="gid://syiq/Company/1312" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax (Company)">MarineMax</a> board of directors agreeing to move forward with a sale process.Read more:&nbsp;<a data-gid="gid://syiq/Article/66058" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax explores potential sale as Donerail raises its bid (2026-05-12 10:45:00 +0200)">MarineMax explores potential sale as Donerail raises its bid</a>Headquartered in Clearwater, Florida, <a data-gid="gid://syiq/Company/1312" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax (Company)">MarineMax</a> operates 65 marinas and storage locations, alongside 70 dealerships, offering yachts for sale, as well as marine services through its acquisition of <a data-gid="gid://syiq/Company/2184" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Island Global Yachting (Company)">Island Global Yachting (IGY)</a> in 2022, as well as <a data-gid="gid://syiq/Company/158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fraser (Company)">Fraser Yachts</a> and <a data-gid="gid://syiq/Company/526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Northrop & Johnson (Company)">Northrop &amp; Johnson</a>.&nbsp;

MarineMax refinances $1.49 billion credit facilities

MarineMax has completed the refinancing of its $1.49 billion senior secured credit facilities.

MarineMax refinances $1.49 billion credit facilities, extending debt maturity to 2031

Spanish refit and repair specialist <a data-gid="gid://syiq/Company/211" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Astilleros de Mallorca S.A. (Company)">Astilleros de Mallorca</a> has announced the appointment of Enrique Tintore as its new Commercial Director.<img src="https://photo-assets.superyachttimes.com/photo/397920/image/large-eafb40a43f57108f116704f5b6a5a5fb.jpg" data-gid="gid://syiq/Photo/397920">Tintore joins the Palma-based shipyard with a background in Marine Engineering and Naval Architecture, bringing extensive technical expertise and experience within the international superyacht sector.Prior to joining <a data-gid="gid://syiq/Company/211" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Astilleros de Mallorca S.A. (Company)">Astilleros de Mallorca</a>, Tintore spent nearly a decade at <a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting</a>, where he was involved in the development and delivery of several innovative projects across the company's yacht portfolio, including the first Xplorer 60 yacht <a data-gid="gid://syiq/Yacht/11078" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="After You60.2m (197'6&quot;)Damen Yachting2025">After You</a> and her YS53 yacht support <a data-gid="gid://syiq/Yacht/12677" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Emotional53.25m (174'8&quot;)Damen Yachting2025">Emotional</a>.&nbsp;Read more: <a data-gid="gid://syiq/Article/64071" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting completes double delivery with Xplorer 60 After You and YS53 Emotional (2025-08-21 11:30:00 +0200)">Damen Yachting completes double delivery with Xplorer 60 After You and YS53 Emotional</a><img src="https://photo-assets.superyachttimes.com/photo/333944/image/large-076b8d514006d5235b5d3cf442ea37e6.jpg" data-gid="gid://syiq/Photo/333944">In his new role, Tintore will support <a data-gid="gid://syiq/Company/211" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Astilleros de Mallorca S.A. (Company)">Astilleros de Mallorca</a>'s commercial activities and strategic development as the shipyard continues to expand its position within the global superyacht refit and maintenance market.Founded in 1942, <a data-gid="gid://syiq/Company/211" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Astilleros de Mallorca S.A. (Company)">Astilleros de Mallorca</a> is one of the Mediterranean's leading refit facilities, providing maintenance, repair and conversion services for superyachts and commercial vessels from its facilities in Palma de Mallorca.

Enrique Tintore appointed as Commercial Director at Astilleros de Mallorca

Astilleros de Mallorca has announced the appointment of Enrique Tintore as its new Commercial Director.

Astilleros de Mallorca appoints Enrique Tintore as Commercial Director

<a data-gid="gid://syiq/Company/2354" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cantiere delle Marche (CdM) (Company)">Cantiere delle Marche (CdM)</a> has announced the appointment of Filippo D. Buonpensiere as Sales Manager, as the Italian shipyard continues to expand its commercial capabilities and market presence.<img src="https://photo-assets.superyachttimes.com/photo/399781/image/large-810b332c149087be29fd81d83e1495ba.png" data-gid="gid://syiq/Photo/399781">Buonpensiere brings six years of operational and commercial experience at <a data-gid="gid://syiq/Company/2354" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cantiere delle Marche (CdM) (Company)">Cantiere delle Marche (CdM)</a>, having been a part of the shipyard during what the shipyard describes as one of the most formative periods of its growth. Beginning with hands-on work during school holidays, he progressed through participating at <a data-gid="gid://syiq/Company/2354" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cantiere delle Marche (CdM) (Company)">CdM</a>'s major international boat shows, from yacht preparation and detailing to sales.According to <a data-gid="gid://syiq/Company/2354" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cantiere delle Marche (CdM) (Company)">CdM</a>, Buonpensiere later became directly involved in used yacht sales transactions, where he gained commercial experience and worked closely with clients throughout the sales process.Alongside his practical experience, Buonpensiere recently completed his degree as an Honor Student at IUM Monaco, combining a six-month internship at <a data-gid="gid://syiq/Company/2354" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cantiere delle Marche (CdM) (Company)">CdM</a> with six months of study at a London-based institution.Commenting on the appointment, Founder and President of <a data-gid="gid://syiq/Company/2354" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cantiere delle Marche (CdM) (Company)">Cantiere delle Marche</a>, Ennio Cecchini, said: "Filippo represents the best of what our company culture produces. His career trajectory reflects not just technical competence, but a genuine passion for our craft and for the ocean itself. He arrives in the Sales Department with the credibility that only authentic experience can provide."

Cantiere delle Marche appoints Filippo D. Buonpensiere as Sales Manager

CdM has appointed Filippo D. Buonpensiere as Sales Manager, as the Italian shipyard expands their market presence and capabilities.


<a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> has announced the launch of the first unit in its new <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> Heritage series, <a data-gid="gid://syiq/Yacht/16564" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SHE/025.5m (83'8&quot;)Sanlorenzo2026">SHE</a> from Ameglia, Italy. The 25.5-metre yacht entered the water for the first time ahead of her world première at the <a data-gid="gid://syiq/Event/336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2026">Cannes Yachting Festival</a> this September.<img src="https://photo-assets.superyachttimes.com/photo/399780/image/large-ed2093cd41f7b1d55585ffe966f84b19.jpg" data-gid="gid://syiq/Photo/399780"><a data-gid="gid://syiq/Yacht/16564" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SHE/025.5m (83'8&quot;)Sanlorenzo2026">SHE</a> reinterprets 1960s iconic design through contemporary engineering and design, with exterior design by <a data-gid="gid://syiq/Company/105" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Zuccon International Project (Company)">Zuccon International Project</a> and interior design penned by Piero Lissoni (<a data-gid="gid://syiq/Company/78" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lissoni & Partners (Company)">Lissoni &amp; Partners</a>).Described by her Italian builder as “expressing a quieter vision of luxury yachting”, <a data-gid="gid://syiq/Yacht/16564" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SHE/025.5m (83'8&quot;)Sanlorenzo2026">SHE</a> has been designed for owners who prefer substance over spectacle. SHE presents a contemporary interpretation of classic yachting proportions, combining timeless styling cues with modern technologies.<img src="https://photo-assets.superyachttimes.com/photo/376712/image/large-e28a4ba42e3ad279fd4d4dc5d5402928.jpg" data-gid="gid://syiq/Photo/376712">“Innovation rooted in respect for tradition, <a data-gid="gid://syiq/Yacht/16564" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SHE/025.5m (83'8&quot;)Sanlorenzo2026">SHE</a> demonstrates how the most enduring ideas continue to inspire when reinterpreted with a clear and conscious intent,” explained Massimo Perotti, Executive Chairman of <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>.<a data-gid="gid://syiq/Yacht/16564" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SHE/025.5m (83'8&quot;)Sanlorenzo2026">SHE</a> features an open-plan interior design, with her main saloon flowing seamlessly into her dining room forward. A central staircase is situated in the middle of the room, providing direct access to her sleeping quarters below. <img src="https://photo-assets.superyachttimes.com/photo/376713/image/large-b35293334a67d3a953dfca94ba0b0af3.jpg" data-gid="gid://syiq/Photo/376713"><a data-gid="gid://syiq/Yacht/16564" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SHE/025.5m (83'8&quot;)Sanlorenzo2026">SHE</a> can comfortably accommodate up to six guests across a three stateroom configuration on the lower deck, consisting of a full-beam master suite at her stern, alongside a double and a twin stateroom. She can also sleep a crew of three.&nbsp;According to <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>, <a data-gid="gid://syiq/Yacht/16564" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SHE/025.5m (83'8&quot;)Sanlorenzo2026">SHE</a> embodies the shipyard’s ‘Tomorrow's Timeless’ philosophy, uniting enduring design, master craftsmanship and purposeful innovation. Additionally, the first five units have already been sold ahead of the yacht’s launch.<img src="https://photo-assets.superyachttimes.com/photo/375559/image/large-2c997b394aee037305155cbfcc8fb688.jpg" data-gid="gid://syiq/Photo/375559">In terms of performance, <a data-gid="gid://syiq/Yacht/16564" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SHE/025.5m (83'8&quot;)Sanlorenzo2026">SHE</a> is equipped with advanced technology, including the introduction of <a data-gid="gid://syiq/Company/5350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Volvo Penta (Company)">Volvo Penta</a>’s IPS Hybrid propulsion system. SHE will make her world première at the <a data-gid="gid://syiq/Event/336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2026">Cannes Yachting Festival</a> from 8 to 13 September 2026.“Echoing the elegance and balance of the classic navetta through contemporary design and cutting-edge technologies, <a data-gid="gid://syiq/Yacht/16564" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SHE/025.5m (83'8&quot;)Sanlorenzo2026">SHE</a> embodies our belief that true luxury is not measured by trends, but by its ability to endure and remain relevant over time. This is the essence of <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>,” concluded Perotti.

SHE: First hybrid Sanlorenzo Heritage yacht launched

Sanlorenzo has announced the launch of the first unit in its new Sanlorenzo Heritage series, SHE from Ameglia, Italy. 

First 26m hybrid Sanlorenzo Heritage yacht SHE launched 

<a data-gid="gid://syiq/Company/5342" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Informa (Company)">US Informa</a> has appointed Cristina Fonzar as its primary representative in Italy and Business Development Manager. The company is part of <a data-gid="gid://syiq/Company/5342" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Informa (Company)">Informa Markets</a> and organiser of several international yachting exhibitions including the Fort Lauderdale, Palm Beach and Miami Boat Shows.<img src="https://photo-assets.superyachttimes.com/photo/399730/image/large-6f05c3fb8f4e44cd68f0437e2fb01c8b.png" data-gid="gid://syiq/Photo/399730">According to President of US Boat Shows for <a data-gid="gid://syiq/Company/5342" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Informa (Company)">Informa Markets</a> Andrew Doole, the appointment is aimed at strengthening relationships with Italian clients and supporting companies seeking to expand their presence in the US market. Moreover, the move reflects the company's focus on providing more localised support to European companies seeking international growth opportunities.An experienced figure within the superyacht industry, Cristina brings extensive expertise in marketing, communications and brand strategy. Her career includes senior roles with yacht builders and luxury companies, as well as advisory work with organisations across the wider superyacht sector.In her new role, Cristina will act as a dedicated point of contact for Italian shipyards, manufacturers, suppliers, designers, architects, brokers, associations, media and luxury brands. She will support existing exhibitors and help new companies navigate opportunities within Informa’s global boat show portfolio as they seek to expand into the US market."Cristina’s long-standing expertise, extensive network and strategic vision will be key to strengthening client relationships and fostering high-value, win-win business opportunities across our international platforms,” concluded Andrew.

US Informa appoints Cristina Fonzar Italy Representative

US Informa has appointed Cristina Fonzar as its primary representative in Italy and Business Development Manager.

US Informa names Cristina Fonzar to lead Italian business development

<a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting</a> has announced the sale of a new-build 79.8-metre <a data-gid="gid://syiq/Yacht/16978" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amels 800779.8m (261'10&quot;)Amels2029">Amels 80</a> superyacht with <a data-gid="gid://syiq/Company/6127" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Boatsters Black (Company)">Boatsters Black</a> and <a data-gid="gid://syiq/Company/8925" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bjorn International Brokerage (Company)">Bjorn International Brokerage</a> representing the first-time owner. <img src="https://photo-assets.superyachttimes.com/photo/222029/image/large-0499c8fe4b686fa77a352b56bacca840.png" data-gid="gid://syiq/Photo/222029">With delivery scheduled for Spring 2029, the <a data-gid="gid://syiq/Yacht/16978" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amels 800779.8m (261'10&quot;)Amels2029">Amels 80</a> yacht will join sisterships <a data-gid="gid://syiq/Yacht/12032" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pangea79.8m (261'10&quot;)Amels2025">Pangea</a>, <a data-gid="gid://syiq/Yacht/12033" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Netto II79.8m (261'10&quot;)Amels2026">Netto II</a> and <a data-gid="gid://syiq/Yacht/12881" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Germaine79.8m (261'10&quot;)Amels2026">Germaine</a> once launched. “As the owner's first yacht, the choice of shipyard carried real significance,” explained Nick Gelevert, CEO &amp; Founder of <a data-gid="gid://syiq/Company/6127" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Boatsters Black (Company)">Boatsters Black</a>.“We took the time to assess the right build partner carefully, and the Amels 80 clearly stood apart.” Constructed with a steel hull and aluminium superstructure, the Amels 80 yacht features exterior design by <a data-gid="gid://syiq/Company/82" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Espen Øino International (Company)">Espen Øino International</a>, with naval architecture by <a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting</a>.“What convinced us was the combination of a proven build philosophy, a clear delivery programme, and the calibre of experience you expect from a leading Dutch yard,” added Kasper Jakobsen, owner of <a data-gid="gid://syiq/Company/8925" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bjorn International Brokerage (Company)">Bjorn International Brokerage</a>.With an interior volume of 2,175 GT, the <a data-gid="gid://syiq/Yacht/16978" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amels 800779.8m (261'10&quot;)Amels2029">Amels 80</a> yacht can accommodate up to 14 guests, as well as 20 crew, including the captain, with interior design penned by <a data-gid="gid://syiq/Company/926" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sinot Yacht Architecture & Design (Company)">Sinot Yacht Architecture &amp; Design</a>.&nbsp;“This sale reflects the continued strength of the <a data-gid="gid://syiq/Company/18" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amels (Company)">Amels</a> 80 and the Limited Editions approach, offering clients certainty in process and delivery while allowing them to make the yacht their own,” concluded Jan van Hogerwou, Commercial Executive USA at <a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting</a>.&nbsp;According to <a href="https://sytiq.superyachttimes.com/" rel="noopener noreferrer" target="_blank" title="">SuperYacht iQ</a>, <a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting</a> has three Amels 80 yachts in operation, including the <a data-gid="gid://syiq/Article/66531" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amels 80 yacht Project Zurich delivered and named Germaine (2026-07-09 16:45:00 +0200)">recently delivered Germaine</a>, with an additional four hulls now currently in-build.&nbsp;

Amels 80: New-build yacht sold

Damen Yachting has announced the sale of a new-build Amels 80 yacht to a first-time owner.

New-build Amels 80 yacht sold to first-time owner

The 29.8-metre Sunseeker motor yacht <a data-gid="gid://syiq/Yacht/7482" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Emrys 29.8m (97'9&quot;)Sunseeker2010">Emrys</a> has been sold, with Daniel Cousins of <a data-gid="gid://syiq/Company/8605" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Prime Yachts (Company)">Prime Yachts</a> representing the buyer, and Jarrett Hiebert of <a data-gid="gid://syiq/Company/322" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Merle Wood & Associates, Inc. (Company)">Merle Wood &amp; Associates</a> together with Kent Chamberlain of <a data-gid="gid://syiq/Company/659" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Chamberlain Yachts (Company)">Chamberlain Yachts</a> representing the seller.<img src="https://photo-assets.superyachttimes.com/photo/62573/image/large-aa92c4b1ecbdddc2c6e38b2cd6cbc056.jpg" data-gid="gid://syiq/Photo/62573">Delivered in 2010, <a data-gid="gid://syiq/Yacht/7482" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Emrys 29.8m (97'9&quot;)Sunseeker2010">Emrys</a> is a <a data-gid="gid://syiq/Company/354" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunseeker (Company)">Sunseeker</a> 30M featuring exterior and interior design penned in-house by her builder. Her naval architecture was developed by <a data-gid="gid://syiq/Company/353" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Don Shead Yacht Design (Company)">Don Shead Yacht Design</a>.Constructed with a GRP hull and superstructure, the flybridge yacht has a beam of 6.91-metres and an interior volume of 113 GT. On the outside, <a data-gid="gid://syiq/Yacht/7482" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Emrys 29.8m (97'9&quot;)Sunseeker2010">Emrys</a> offers generous spaces for outdoor relaxation, including a deck Jacuzzi.Accommodation onboard is arranged for up to eight guests across four staterooms, including a master suite, VIP stateroom, double stateroom and twin stateroom. Dedicated quarters are available for a crew of four, including the captain.In terms of performance, <a data-gid="gid://syiq/Yacht/7482" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Emrys 29.8m (97'9&quot;)Sunseeker2010">Emrys</a> is powered by twin <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> engines, delivering a cruising speed of 25 knots and a top speed of 28 knots. At the time of her sale, <a data-gid="gid://syiq/Yacht/7482" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Emrys 29.8m (97'9&quot;)Sunseeker2010">Emrys</a> had a last known asking price of $2,250,000. Image courtesy of <a data-gid="gid://syiq/Company/136" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ocean Independence (Company)">Ocean Independence</a>.

30m Sunseeker motor yacht Emrys sold

The 30m Sunseeker motor yacht Emrys has been sold with a last known asking price of $2,250,000. 

The 34.36-metre <a data-gid="gid://syiq/Company/212" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Benetti SpA (Company)">Benetti</a> Oasis motor yacht <a data-gid="gid://syiq/Yacht/13357" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Aitana34.36m (112'9&quot;)Benetti SpA2026">Aitana</a> has been delivered by <a data-gid="gid://syiq/Company/5812" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="FGI Yacht Group (Company)">FGI Yacht Group</a>. The yacht will join the company's charter fleet and is set to make her charter debut in the West Mediterranean, with bookings available from September.<img src="https://photo-assets.superyachttimes.com/photo/198028/image/large-4e9b37238b4ae3cc2b3abad1922f4c20.jpg" data-gid="gid://syiq/Photo/198028">Her naval architecture was developed in-house by <a data-gid="gid://syiq/Company/212" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Benetti SpA (Company)">Benetti</a>, while the exterior styling is the work of <a data-gid="gid://syiq/Company/61" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RWD (Company)">RWD</a>. Inside, <a data-gid="gid://syiq/Yacht/13357" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Aitana34.36m (112'9&quot;)Benetti SpA2026">Aitana</a> features an open-plan layout with expansive glazing that fills the <a data-gid="gid://syiq/Company/5263" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bonetti / Kozerski architecture DPC (Company)">Bonetti/Kozerski</a>-designed interiors with natural light.With an internal volume of 269 GT, <a data-gid="gid://syiq/Yacht/13357" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Aitana34.36m (112'9&quot;)Benetti SpA2026">Aitana</a> accommodates up to 11 guests across five well-appointed staterooms. The layout includes a full-beam master suite and two convertible guest cabins, while a crew of seven ensures a seamless onboard experience.Like other yachts in the <a data-gid="gid://syiq/Company/212" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Benetti SpA (Company)">Benetti</a> Oasis series, <a data-gid="gid://syiq/Yacht/13357" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Aitana34.36m (112'9&quot;)Benetti SpA2026">Aitana</a> is equipped with the signature Oasis Deck, featuring fold-out sea terraces and a glass-fronted infinity pool that together create a 270-degree beach club with uninterrupted sea views. A versatile Sea Lift platform provides easy access to the water and can be used as a swim platform, diving board or Jet Ski launch.Enhancing her appeal on the charter market, <a data-gid="gid://syiq/Yacht/13357" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Aitana34.36m (112'9&quot;)Benetti SpA2026">Aitana</a> offers a selection of water toys, including a <a data-gid="gid://syiq/Company/4209" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Seadoo Proshop (Company)">Sea-Doo</a> Spark Waverunner, two <a data-gid="gid://syiq/Company/3030" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cayago AG / Seabob (Company)">Seabobs</a>, two kayaks and a 42-foot Anvera towed tender for guest transfers and excursions.In terms of propulsion system, <a data-gid="gid://syiq/Yacht/13357" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Aitana34.36m (112'9&quot;)Benetti SpA2026">Aitana</a> is powered by twin <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> engines, giving her a cruising speed of 145 knots and a top speed of 16 knots.

Benetti yacht Aitana delivered

The 34.36-metre Benetti Oasis motor yacht Aitana has been delivered by FGI Yacht Group.

34m Benetti motor yacht Aitana delivered

<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> has delivered the 50-metre <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> semi-custom superyacht <a data-gid="gid://syiq/Yacht/12258" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Spribe50.0m (164'1&quot;)Admiral2026">Spribe</a> following the completion of her sea trials earlier this year. <a data-gid="gid://syiq/Yacht/12258" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Spribe50.0m (164'1&quot;)Admiral2026">Spribe</a> is the first of four <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> Panorama 50 yachts, with the other units currently in-build.<img src="https://photo-assets.superyachttimes.com/photo/399727/image/large-45678aae56c29eba11394cc321dcb400.jpg" data-gid="gid://syiq/Photo/399727">As the first hull of the <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> Panorama 50 series, <a data-gid="gid://syiq/Yacht/12258" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Spribe50.0m (164'1&quot;)Admiral2026">Spribe</a> was first announced in September 2022 when <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> unveiled the Project Panorama concept where the yacht was revealed to be built in steel with an aluminium superstructure. In the third quarter of 2022, <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> had sold two of its Project Panorama superyachts, including <a data-gid="gid://syiq/Yacht/12258" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Spribe50.0m (164'1&quot;)Admiral2026">Spribe</a> and the second hull of the series. Construction began later that year with the <a data-gid="gid://syiq/Article/56653" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral lays keel of first Panorama 50 superyacht (2022-12-28 10:15:00 +0100)">keel laying in December 2022</a>, before the yacht entered <a data-gid="gid://syiq/Article/59576" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="First 50m Admiral semi-custom superyacht Panorama moves to outfitting (2024-01-25 11:30:00 +0100)">outfitting at the Marina di Carrara shipyard</a> in Italy in early 2024. She was subsequently launched in December 2025.Read more:&nbsp;<a data-gid="gid://syiq/Article/64891" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="50m Admiral Yachts Panorama series motor yacht Spribe launched (2025-12-02 15:00:00 +0100)">50m Admiral Yachts Panorama series motor yacht Spribe launched</a><img src="https://photo-assets.superyachttimes.com/photo/395087/image/large-5929c8d246a7f987f769a1efb35737f0.jpg" data-gid="gid://syiq/Photo/395087">“The delivery of the first <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> Panorama 50 marks a further evolution of the semi-custom segment,” explained Gianmaria Costantino, Chief Commercial Officer of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>. “With this new line, <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> interprets the expectations of today’s owners through a yacht that combines an exceptional level of customisation, and the timeless elegance of Italian yacht-building tradition.”Designed inside and out by <a data-gid="gid://syiq/Company/6288" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Piredda & Partners (Company)">Piredda &amp; Partners</a>, <a data-gid="gid://syiq/Yacht/12258" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Spribe50.0m (164'1&quot;)Admiral2026">Spribe</a> features naval architecture developed in-house by <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>. Constructed with a steel hull and aluminium superstructure, the yacht has a beam of 8.9-metres, a draft of 2.7 metres, and an interior volume remaining under the 500 GT threshold.The first hull in the <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> Panorama 50 series has been designed with an open layout where her interior and exterior areas flow into each other. In terms of outdoor living, she features a beach club fitted with a transparent-walled swimming pool flanked by folding balconies, broadening the range of waterside activities guests can enjoy.<img src="https://photo-assets.superyachttimes.com/photo/379896/image/large-8cbfa049272e685ed4d8eaecbbe381b3.jpg" data-gid="gid://syiq/Photo/379896">Stepping inside, <a data-gid="gid://syiq/Yacht/12258" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Spribe50.0m (164'1&quot;)Admiral2026">Spribe</a> embraces a contemporary interior design, where sandy beige tones are married to honey-coloured woods, and sweeping glazing that floods her living spaces with natural light. Further enriched by touches of navy blue and gold alongside sculptural details, her main saloon exudes a sense of calm and elegance.At an interior volume of 499 GT, accommodation onboard is arranged across seven staterooms. Her configuration comprises an owner's suite on the upper deck that benefits from 180-degree views and a private forward terrace, while an additional four guest staterooms are situated on the main deck, alongside her main saloon.Fold-down bulwarks on the aft section of the main deck significantly expand the usable exterior space, transforming the area into a highly versatile environment that can be adapted to the preferences of the owner and guests.<img src="https://photo-assets.superyachttimes.com/photo/399726/image/large-faf6525e3462a84758578e14608e89b1.jpg" data-gid="gid://syiq/Photo/399726">The lower deck of <a data-gid="gid://syiq/Yacht/12258" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Spribe50.0m (164'1&quot;)Admiral2026">Spribe</a> includes a corridor which passes through the engine room to reach two aft guest staterooms; a solution typically found on larger yachts, enabling a more efficient use of the available interior volume.In terms of propulsion, <a data-gid="gid://syiq/Yacht/12258" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Spribe50.0m (164'1&quot;)Admiral2026">Spribe</a> is powered by twin <a data-gid="gid://syiq/Company/1408" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caterpillar Inc (Company)">Caterpillar</a> engines, propelling her to a top speed of 15 knots. She is ready to embark on her maiden Mediterranean season, before her official debut at the <a data-gid="gid://syiq/Event/338" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2026">Monaco Yacht Show 2026</a>.

Spribe: First 50m Admiral Panorama yacht delivered

TISG has delivered the 50m Admiral superyacht Spribe, the first hull in the Admiral Panorama 50 series, following her sea trials.

First 50m Admiral Panorama superyacht Spribe delivered

The 45-metre <a data-gid="gid://syiq/Company/1444" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Toughs Shipyard (Company)">Toughs Shipyard</a> superyacht <a data-gid="gid://syiq/Yacht/2546" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wilamina45.0m (147'8&quot;)Toughs Shipyard1987">Wilamina</a> has been sold, with Flavio Domenici of <a data-gid="gid://syiq/Company/5658" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dome Yachts Italy Srl (Company)">Dome Yachts Italy</a> introducing the buyer.<img src="https://photo-assets.superyachttimes.com/photo/399729/image/large-ff8ee746358f36dc158716815c59189b.jpeg" data-gid="gid://syiq/Photo/399729">Originally launched as Brave Goose in 1987, she benefitted from a complete rebuild in 2000. She features naval architecture penned by <a data-gid="gid://syiq/Company/1445" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alan Deane (Company)">Alan Deane</a>, with exterior design created by <a data-gid="gid://syiq/Company/1446" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="James Scallon (Company)">James Scallon</a>. Inside, she showcases a country style interior designed by <a data-gid="gid://syiq/Company/161" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="H2 Yacht Design (Company)">H2 Yacht Design</a>.Moreover, <a data-gid="gid://syiq/Yacht/2546" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wilamina45.0m (147'8&quot;)Toughs Shipyard1987">Wilamina</a> can sleep up to 10 guests across five staterooms. Her layout comprises a full-beam master suite on the main deck. To complete the accommodation, four ensuite guest suites are located amidships on the lower deck.On her sundeck, guests can relax on the sunpads. Meanwhile, a dining and lounging space is available on the generous bridge deck.&nbsp;In terms of performance, <a data-gid="gid://syiq/Yacht/2546" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wilamina45.0m (147'8&quot;)Toughs Shipyard1987">Wilamina</a> is propelled by twin <a data-gid="gid://syiq/Company/2607" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kelvin Diesels (Company)">Kelvin Diesels</a> engines, providing her with a comfortable cruising speed of 11 knots and a top speed of 13 knots.<a data-gid="gid://syiq/Yacht/2546" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wilamina45.0m (147'8&quot;)Toughs Shipyard1987">Wilamina</a> had a last known asking price of €2,499,000 at the time of her sale.

Toughs Shipyard yacht Wilamina sold

The 45-metre Toughs Shipyard superyacht Wilamina has been sold.

45m superyacht Wilamina sold

<a data-gid="gid://syiq/Company/71" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tony Castro (Company)">Tony Castro Yacht Design</a> has unveiled the 68-metre sail-assisted motor yacht concept Samy, developed around an integrated propulsion system. The overall result is designed to reduce fuel consumption, while maintaining the comfort and volume of a standard motor yacht.<img src="https://photo-assets.superyachttimes.com/photo/399580/image/large-adb2289392555d842e3918aad74a060f.jpg" data-gid="gid://syiq/Photo/399580">According to <a data-gid="gid://syiq/Company/71" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tony Castro (Company)">Tony Castro</a>, Samy, the ‘Sail-Assisted Motor Yacht’, has been created around "the most economical, intelligent propulsion solution" for a yacht intended to spend extended periods at sea.The 68-metre concept is centred around a system of inflatable sails and retractable masts, intended to preserve the yacht's exterior aesthetic while reducing windage, improving safety and minimising deck equipment.&nbsp;Her superstructure has been engineered to house booms capable of full 360-degree rotation. Moreover, rather than the rig being an added layer over a finished hull, the hull was drawn around the rig, resulting in a single integrated design.<img src="https://photo-assets.superyachttimes.com/photo/399582/image/large-d8226cf8ece3276b81e996b545112ec7.jpg" data-gid="gid://syiq/Photo/399582">According to the studio, the integrated sail-assist system enables Samy to complete long-distance passages using significantly less fuel than a conventional motor yacht. For a typical Mediterranean-to-Caribbean round trip, fuel savings are estimated at approximately 33,000 litres.&nbsp;As well as this, solar energy capture and modern windmills have also been incorporated into her superstructure, forming “a coherent energy architecture across the whole platform.” <img src="https://photo-assets.superyachttimes.com/photo/399581/image/large-8487be49110570ec02b3d4f684f85dec.jpg" data-gid="gid://syiq/Photo/399581" style="box-sizing: inherit; border: 0px; font-family: &quot;Open Sans&quot;, sans-serif; position: relative; max-width: 100%; margin: 1rem 0px; color: rgb(0, 0, 0); font-size: 13.6px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">As for outdoor living, the aft deck swimming pool on Samy serves as the exterior's centerpiece, complemented by generous lounge areas, alfresco dining, a Jacuzzi, and a fold-down beach club with direct water access.Stepping inside, the concept is designed to offer the interior volume and comfort of a motor yacht, despite its sail-assisted configuration. By integrating the propulsion system into the yacht's architecture, guest spaces remain spacious and uninterrupted while maintaining clean exterior lines.

 Tony Castro unveils 68m sail-assisted motor yacht concept Samy 

Tony Castro Yacht Design has unveiled the 68m sail-assisted motor yacht concept Samy, designed to reduce fuel consumption on long-range voyages.


Few yachts illustrate the value of long-term investment quite like the 59-metre explorer yacht <a data-gid="gid://syiq/Yacht/855" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Just B59.0m (193'7&quot;)Amels1973">Just B</a>. Originally built by <a data-gid="gid://syiq/Company/18" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amels (Company)">Amels</a> in 1973 as a North Sea pilot vessel, the yacht has undergone an extensive multi-year renewal programme under her current ownership, resulting in a vessel that combines commercial-grade pedigree with a thoroughly modern technical platform.When SuperYacht Times first spoke with the owners of <a data-gid="gid://syiq/Yacht/855" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Just B59.0m (193'7&quot;)Amels1973">Just B</a> in 2024, the husband-and-wife team shared their ambition to create a yacht capable of genuine global exploration – a vision that ultimately shaped the unique vessel seen today. Since then, the project has continued to evolve, with significant investment directed towards the yacht's engineering infrastructure, operational capabilities and long-term cruising readiness.<img src="https://photo-assets.superyachttimes.com/photo/396865/image/large-469255e5fbe5f2a721e189fbab0deb38.jpg" data-gid="gid://syiq/Photo/396865">A platform built for exploration&nbsp;Unlike many explorer yachts conceived primarily for leisure use, <a data-gid="gid://syiq/Yacht/855" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Just B59.0m (193'7&quot;)Amels1973">Just B</a> began life as a working vessel designed to withstand the demanding conditions of the North Sea. Constructed by Dutch shipyard <a data-gid="gid://syiq/Company/18" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amels (Company)">Amels</a>, her robust steel hull, deep draft and distinctive canoe stern continue to define her character today.For the owners, these attributes formed the foundation of the project. "We wanted something that could take us anywhere – and allow us to stay there," explains the owner. Rather than commissioning a new-build explorer yacht, the decision was made to invest in an existing platform with proven seakeeping credentials and adapt it for modern long-range cruising.<img src="https://photo-assets.superyachttimes.com/photo/396874/image/large-9204cd5f0c061c12486730ff720b5c79.jpg" data-gid="gid://syiq/Photo/396874">A comprehensive engineering renewal&nbsp;Central to the programme has been a substantial overhaul of the yacht's engineering systems. Over a series of refit periods spanning multiple years, <a data-gid="gid://syiq/Yacht/855" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Just B59.0m (193'7&quot;)Amels1973">Just B</a> has undergone extensive upgrades designed to modernise the vessel while preserving the strengths of her original construction.Among the most significant additions are three new Tier III-compliant <a data-gid="gid://syiq/Company/1450" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Volvo (Company)">Volvo</a> D16 generator sets, a new ABB variable frequency drive electrical architecture, new propulsion motors, a new bow thruster and <a data-gid="gid://syiq/Company/5020" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Quantum Marine Stabilizers (Company)">Quantum</a> XT zero-speed stabilisers. The yacht has also received a new switchboard, updated navigation equipment and modern communications systems, including Starlink connectivity.According to the yacht's engineering team, the focus was not on extending the life of aging systems but replacing critical infrastructure altogether. The result is a platform that combines the structural integrity of a commercial vessel with the reliability and operational flexibility expected of a contemporary explorer yacht.<img src="https://photo-assets.superyachttimes.com/photo/396913/image/large-1ea1b31cf6c6b22e5899fc40c000b351.jpg" data-gid="gid://syiq/Photo/396913">Proven through use&nbsp;While many explorer projects are judged on specification alone, <a data-gid="gid://syiq/Yacht/855" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Just B59.0m (193'7&quot;)Amels1973">Just B</a>'s credentials have been established through extensive real-world operation.Over the course of the current ownership, the yacht has logged more than 100,000 nautical miles, visiting destinations including Alaska, the Galápagos Islands, French Polynesia, Fiji and the Solomon Islands. Captain Gabriel Sayles, who has overseen numerous long-distance passages aboard the yacht, points to this cruising record as one of the vessel's defining achievements.Beyond reliability, one of <a data-gid="gid://syiq/Yacht/855" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Just B59.0m (193'7&quot;)Amels1973">Just B</a>'s most remarkable characteristics is her operational efficiency. Her diesel-electric propulsion system delivers exceptionally low fuel consumption for a yacht of her size, allowing the owners to undertake extended voyages while minimising fuel costs and reducing the logistical challenges often associated with remote cruising. Combined with enhanced redundancy, efficient power management and accurate low-speed manoeuvrability, the system has enabled the yacht to operate economically across some of the world's most isolated cruising grounds.<img src="https://photo-assets.superyachttimes.com/photo/397605/image/large-f151ecb3fe14a8958392ae178f727e5f.png" data-gid="gid://syiq/Photo/397605">Designed for life on board&nbsp;Alongside the technical works, <a data-gid="gid://syiq/Yacht/855" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Just B59.0m (193'7&quot;)Amels1973">Just B</a>'s interior has been extensively reimagined by <a data-gid="gid://syiq/Company/7530" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Wiseman Group (Company)">The Wiseman Group</a>, with her exterior executed by Dutch yacht design studio <a data-gid="gid://syiq/Company/15" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vripack (Company)">Vripack</a>.Rather than pursuing a highly stylised aesthetic, the owners focused on creating an environment suited to extended periods on board. Natural materials, neutral tones and comfortable social spaces were prioritised throughout the interior, reflecting the yacht's intended role as a long-range home rather than a seasonal retreat. <img src="https://photo-assets.superyachttimes.com/photo/396875/image/large-af26625a93afa27e49230baba54521da.jpg" data-gid="gid://syiq/Photo/396875">The result is a yacht equally capable of undertaking multi-week ocean passages or serving as a comfortable base in remote anchorages far from conventional cruising infrastructure.<img src="https://photo-assets.superyachttimes.com/photo/397617/image/large-e8ebe05d2b1f55b5ad68a480040796d2.jpg" data-gid="gid://syiq/Photo/397617">Continuing the journey&nbsp;Today, <a data-gid="gid://syiq/Yacht/855" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Just B59.0m (193'7&quot;)Amels1973">Just B</a> stands as an example of an increasingly rare approach within the superyacht sector: the long-term evolution of an existing platform rather than replacement through a new-build project.With class surveys up to date, major engineering systems renewed and a decade of operational experience informing every stage of the programme, the yacht demonstrates how thoughtful investment can extend the relevance and capability of a proven vessel far beyond its original design brief. On the market with <a data-gid="gid://syiq/Company/2237" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="SuperYachtsMonaco (Company)">SuperYachtsMonaco</a>, <a data-gid="gid://syiq/Yacht/855" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Just B59.0m (193'7&quot;)Amels1973">Just B</a> offers potential new owners an opportunity to acquire a true, proven explorer in remarkable condition.More than fifty years after leaving the <a data-gid="gid://syiq/Company/18" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amels (Company)">Amels</a> shipyard, <a data-gid="gid://syiq/Yacht/855" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Just B59.0m (193'7&quot;)Amels1973">Just B</a> continues to fulfil the role for which she was selected by her owners – a yacht built not simply to travel the world, but to remain there.<img src="https://photo-assets.superyachttimes.com/photo/396871/image/large-5c05621fe7de48e409e1ca224b93c3df.jpg" data-gid="gid://syiq/Photo/396871">

Behind the refit of Amels Just B

The owners of the Amels superyacht Just B share the story of her refit ahead of her sale.

How a decade-long refit programme transformed the 59m yacht Just B

In their latest financial disclosure, the Board of Directors of <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>, chaired by Massimo Perotti, convened to review and approve the financial results for the 2024 financial year.<img src="https://photo-assets.superyachttimes.com/photo/320979/image/large-649a94dae16898ab9df849136057ab5a.jpg" data-gid="gid://syiq/Photo/320979">Consolidated net revenues: New yachts&nbsp;In 2024, <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> reported an increase in "Net Revenues New Yachts," closing the year at €930.4 million, a 10.7% rise compared to €840.2 million in 2023. This growth includes a 6.2% increase on an organic basis. The fourth quarter highlighted a significant revenue increase of 22.0% to €261.3 million, compared to €214.2 million in the corresponding period of the previous year.The Yacht Division's revenues amounted to €519.6 million, with notable contributions from the SP92 and SL86-Asymmetric models, introduced at the <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">2024 Cannes Yachting Festival</a>, and the SD132 model, the group's first composite yacht over 40-metres, launched in November.Revenues in the Superyacht Division rose by 17.6% to €280.2 million, driven by the Steel line and the initial sales of the 50Steel HER, featuring a hidden engine room.The <a data-gid="gid://syiq/Company/5648" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bluegame (Company)">Bluegame</a> Division generated revenues of €92.3 million, maintaining performance despite challenging market conditions.The <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a> Division, integrated into the group in August 2024, contributed €38.3 million over five months to the revenue stream. <img src="https://photo-assets.superyachttimes.com/photo/302095/image/large-5c81b855a83c4129bca77da30b2ee896.jpg" data-gid="gid://syiq/Photo/302095">Geographical revenue breakdownIn 2024, the geographical distribution of <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>'s revenues demonstrated a more diversified revenue mix than in the previous year. The Americas region saw a revenue increase of 58.4% year-over-year, and the Middle East and Africa (MEA) region also experienced notable growth, with revenues up by 55.4% year-over-year. In contrast, Europe showed a slight decline of 0.9% year-over-year, following a substantial increase of 38.3% in 2023. The Asia-Pacific (APAC) region recorded a decrease of 2.3% year-over-year.EBITDA and EBIT growth&nbsp;In 2024, <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> reported Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) of €176.4 million, marking a 12% increase from €157.5 million in 2023. This increase includes a 9.1% rise on an organic basis. The EBITDA margin on net revenues from new yachts was 19.0%, which represents a 20 basis-point improvement from the previous year and a 50 basis-point increase on an organic basis.<img src="https://photo-assets.superyachttimes.com/photo/296254/image/large-8b449694c11eabcc53398b61357941c7.jpg" data-gid="gid://syiq/Photo/296254">Earnings Before Interest and Taxes (EBIT) for the year totalled €139.3 million, up 10.6% from €125.9 million in 2023, with a 9.4% increase on an organic basis. The EBIT margin on net revenues from new yachts was 15%. This margin was impacted by the consolidation of <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Swan</a>; excluding this, the margin would be 15.4%, a 50 basis-point increase from 2023. The smaller scale of <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Swan</a> resulted in a higher depreciation impact on revenues compared to the group’s average.<a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenz</a>o’s strong 2024 performance is reflected in a 12% increase in EBITDA to €176.4 million, with a 9.1% organic rise, and an improved EBITDA margin of 19%. Similarly, EBIT grew by 10.6% to €139.3 million, supported by a 9.4% organic increase. The EBIT margin on new yacht revenues stood at 15%, impacted by the consolidation of <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Swan</a>, but would have been 15.4% excluding this, reflecting <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>’s efficient operations despite higher depreciation costs from Swan’s smaller scale.<img src="https://photo-assets.superyachttimes.com/photo/298552/image/large-7852cafec36587fb5fa33772c6d2e93d.jpeg" data-gid="gid://syiq/Photo/298552">2024 investments and strategic acquisitions&nbsp;In 2024, <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> demonstrated a strategic focus on growth and innovation with organic net investments totaling €49.3 million, accounting for over 88% of its total investments. These funds were primarily directed towards enhancing industrial capacity and developing new yacht models and product ranges, representing 5.3% of net revenues from new yachts and reflecting a consistent investment strategy alongside an expanding revenue base.Moreover, <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> expanded its operational scope by integrating <a data-gid="gid://syiq/Company/1011" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Simpson Marine (Company)">Simpson Marine</a> and the <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan Group</a> into its financial framework. The purchase of <a data-gid="gid://syiq/Company/1011" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Simpson Marine (Company)">Simpson Marine</a> required an investment of €23.9 million, further expanding <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>'s geographical footprint and service capabilities. This strategic expansion resulted in additional net investments related to changes in the consolidation perimeter, totaling €138.8 million, with approximately €124 million allocated to <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a> and around €15 million to <a data-gid="gid://syiq/Company/1011" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Simpson Marine (Company)">Simpson Marine</a>. The total investments for the year reached €188.1 million.<img src="https://photo-assets.superyachttimes.com/photo/309290/image/large-bbfa5629e30fe9af8305cc907df9a4c3.jpg" data-gid="gid://syiq/Photo/309290">Analysis of <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>’s Net financial position<a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> maintained a positive net financial position of €29.1 million, despite several significant cash movements throughout the year. These included a €34.8 million dividend payout, €49.3 million in organic investments aimed at long-term growth, and a total of €83.8 million in extraordinary cash outflows. The latter encompassed €76.2 million directed towards mergers and acquisitions and €7.5 million in a net buy-back operation during the second half of the year.The financial impact of these activities was marked, particularly in the acquisitions segment, where <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> invested €52.3 million in acquiring a 60% stake in the <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan Group</a>, which included €32.4 million for the purchase and an additional €20 million to align the subsidiary’s financial position with Sanlorenzo’s standards. Furthermore, the acquisition of <a data-gid="gid://syiq/Company/1011" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Simpson Marine (Company)">Simpson Marine</a> accounted for an additional outflow of €23.9 million. Without these substantial expenditures, <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>’s net financial position would have stood at €112.8 million, down from €140.5 million at the end of 2023, indicating a strategic but costly expansion. Additionally, the company reported €25.5 million in lease liabilities under IFRS 16, reflecting its commitments to leased assets.<img src="https://photo-assets.superyachttimes.com/photo/326534/image/large-43223a2b1bef25aa56865cdb42c31ae3.jpg" data-gid="gid://syiq/Photo/326534">Read: <a data-gid="gid://syiq/Article/62456" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo partners with MAN for the first bi-fuel green methanol 50 X-Space yacht (2025-01-21 17:30:00 +0100)">Sanlorenzo partners with MAN for the first bi-fuel green methanol 50 X-Space yacht</a>Order intake growth and strong backlog analysis&nbsp;In the fourth quarter of 2024, <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>'s order intake reached €230.2 million, marking an increase from €207.8 million in the same quarter of 2023. This growth, despite extended waiting lists projected up to 2028, underscores Sanlorenzo's robust capacity to secure new orders. On an organic basis, the fourth quarter order intake stabilized at €203 million, reflecting resilience and a reversal of the downtrend observed in earlier months of the year. This stability was primarily fueled by a notable recovery in the Americas, incremental improvements in Europe, and ongoing growth in the MEA region, driven by strategic market expansions and enhanced product offerings.As of 31 December 2024, the backlog was firmly committed by final clients at 88%, with a net value of €1,019.8 million, slightly down from €1,041.7 million at the end of 2023. The allocated backlog for 2025 stood at €623.1 million, while €396.7 million was slated for subsequent years. <img src="https://photo-assets.superyachttimes.com/photo/268405/image/large-0fe4b56c7fa5bf4533eb5955ddd1c1c0.jpg" data-gid="gid://syiq/Photo/268405"><a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>'s financial results for 2024 showcase a robust performance across key metrics, highlighting the company's solid standing in the industry. Looking ahead, <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> is reinforcing its commitment to innovation with various projects, including a partnership announced with <a data-gid="gid://syiq/Company/1441" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MAN (Company)">MAN</a> at boot 2025, to develop the first bi-fuel propulsion system powered by green methanol. This technology – promising &nbsp;to reduce emissions by up to 70% during cruising – will be featured in the new superyacht 50X-Space, set for a 2027 launch.<img src="https://photo-assets.superyachttimes.com/photo/345341/image/large-2ca82e6c0db0dbae4453ff2ff2950bc2.jpg" data-gid="gid://syiq/Photo/345341"> Read:&nbsp;<a data-gid="gid://syiq/Article/62456" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo partners with MAN for the first bi-fuel green methanol 50 X-Space yacht (2025-01-21 17:30:00 +0100)">Sanlorenzo partners with MAN for the first bi-fuel green methanol 50 X-Space yacht</a>

Sanlorenzo reports an 88% client-committed backlog

The Board of Directors of Sanlorenzo  convened to review and approve the financial results for the year ending 31 December 2024.