Sanlorenzo H1 Orders Rise 18.3% as Backlog Reaches €1.5bn

Sanlorenzo closed the first half of 2026 with order intake of €496.4 million, up 18.3 per cent year on year, while net revenue from new yachts reached €471.3 million. The Italian group also reported higher EBITDA and net profit while confirming its full-year guidance against a gross order backlog of almost €1.5 billion.

Orders continue to outpace first-half revenue

Order intake increased to €496.4 million during the six-month period, marking an 18.3 per cent rise from the first half of 2025. Sanlorenzo said the second quarter represented its eighth consecutive quarter of year-on-year order growth, providing further production visibility across the group.

Gross backlog stood at €1,498.9 million at the end of June, with 89 per cent associated with yachts already sold to final clients rather than speculative inventory. Net backlog was €1,027.6 million, giving Sanlorenzo substantial forward coverage across its yacht and superyacht programmes.

Revenue and profit grow with stable margins

Net revenue from new yachts rose 3.8 per cent to €471.3 million, while EBITDA increased 3.7 per cent to €83.5 million. The EBITDA margin remained stable at 17.7 per cent, showing that profitability was maintained as revenue and the group's operating perimeter expanded.

Group net profit increased 5.4 per cent to €49.1 million, while Sanlorenzo generated €66.3 million of cash during the first six months before dividends. Net cash stood at €49.4 million at 30 June after €37 million of dividend payments during the period.

Backlog supports confirmed 2026 guidance

Sanlorenzo confirmed its 2026 guidance and the targets set out in its 2026–2028 business plan. The portion of net backlog scheduled for 2026 provided 83 per cent coverage of the midpoint of the company's expected full-year new-yacht revenue range.

The backlog composition is also important because 89 per cent of gross orders were already sold to final clients. That reduces the group's exposure to speculative production while supporting a more predictable delivery schedule across models with different build cycles.

The first-half figures therefore point to controlled financial expansion rather than a volume-led acceleration. Sanlorenzo enters the second half with higher order intake, stable operating margins and a backlog that extends visibility beyond the yachts due for delivery during the current financial year.

Perotti points to value over volume and an active second half

Sanlorenzo chairman and chief executive Massimo Perotti said the first-half performance supported the direction set out in the group's 2026–2028 “Tomorrow's Timeless” Business Plan, with the company continuing to prioritise value over volumes while preserving margins and the exclusivity of its brands. He highlighted the 18.3 per cent increase in order intake and the eighth consecutive quarter of year-on-year order growth in Q2 as evidence of continued demand in the most exclusive segments of the yacht market.

Perotti also pointed to the visibility provided by the order book, with net backlog above €1 billion and 89 per cent of gross backlog represented by yachts already sold to final clients. Sanlorenzo said the positive first-half performance comes ahead of an active second half of 2026, with new product premieres planned for the autumn boat-show season and further developments across the group's portfolio.