SANLORENZO S.P.A.:
FULL ACHIEVEMENT OF OBJECTIVES, APPROVAL OF THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS OF 31 DECEMBER 2024 AND 2025 GUIDANCE BY THE BOARD OF DIRECTORS

Net Revenues New Yachts confirmed at a record level of €930.4 million (+10.7% YoY).

Record growth in EBITDA (+12.0% YoY) and EBIT (+10.6% YoY), with margins of 19.0% and 15.0% on revenues, respectively.

Group net profit at €103.1 million (+11.1% YoY), exceeding the upper end of the 2024 Guidance range (€99-101 million).

Proposed a dividend of €1.00 per share (approx. 34% pay-out on Group net profit),

in line with 2023 dividend, also considering the significant acquisitions of Nautor Swan and Simpson Marine during 2024.

2025 Guidance reflects continued and sustainable growth, driven by the evolution of the business model, the strong product mix, and the expansion of the direct sales network.

Consolidated results for the year ended 31 December 2024:

  • Net Revenues from the sale of new yachts (“Net Revenues New Yachts”) confirmed at €930.4 million, +10.7% compared to 2023
  • EBITDA confirmed at €176.4 million, +12.0% compared to 2023, with a margin on Net Revenues New Yachts of 19.0%, approximately +20 basis points; the margin expansion reflects the brand’s unique market positioning and the strong desirability of its one-of-a-kind creations. Excluding the impact of Nautor Swan’s consolidation, the EBITDA margin would have expanded by approximately 45 basis points (19.2% on Net Revenues New Yachts)
  • EBIT confirmed at €139.3 million, +10.6% compared to 2023, with a margin on Net Revenues New Yachts of 15.0%. Excluding the impact of Nautor Swan’s consolidation, the EBIT margin would have expanded by approximately 40 basis points (15.4% on Net Revenues New Yachts), demonstrating the optimization of fixed assets in relation to the generated income
  • EBIT confirmed at €139.3 million, +10.6% compared to 2023, with a margin on Net Revenues New Yachts of 15.0%. Excluding the impact of Nautor Swan’s consolidation, the EBIT margin would have expanded by approximately 40 basis points (15.4% on Net Revenues New Yachts), demonstrating the optimization of fixed assets in relation to the generated income
  • Group net profit at €103.1 million, +11.1% compared to 2023, exceeding even the upper end of the 2024 Guidance range (€99-101 million), thanks to effective treasury management aimed at minimizing capital costs and promptly deploying cash surpluses
  • Organic net investments confirmed at €49.3 million, with an incidence of 5.3% on Net Revenues New Yachts, of which 89% dedicated to expanding industrial capacity and developing new models and product lines
  • Net cash position confirmed at €29.1 million as of 31 December 2024, after the payment of €34.8 million in dividends and the impact of extraordinary transactions (M&A and buyback in H2 2024) totaling €83.8 million
  • Order Backlog 88% covered by final clients, with a net value of €1,019.8 million as of 31 December 2024, of which €623.1 million refers to 2025 and €396.7 million to subsequent years, continuing to provide a high level of visibility over a long-term horizon

The Board of Directors has also:

  • proposed a dividend of €1.00 per share, with a pay-out of approx. 34% of Group net profit
  • presented the 2025 Guidance, outlining a path of continued and sustainable growth, demonstrating the brand’s resilience amid ongoing macroeconomic and geopolitical uncertainties
  • approved the 2024 Consolidated Sustainability Report in compliance with the implementation of Italian Legislative Decree no. 125 of 6 September 2024, marking the first structured reporting exercise on environmental, social, and governance matters
  • conferred powers on the Chairman and Chief Executive Officer to convene the Ordinary and Extraordinary Shareholders' Meeting on 29 April 2025, on first call

La Spezia, 10 March 2025 – The Board of Directors of Sanlorenzo S.p.A. (“Sanlorenzo” or the “Company”), which met today under the chairmanship of Mr. Massimo Perotti, examined and approved the consolidated financial statements and the draft separate financial statements as of 31 December 2024, along with the 2025 Guidance.

Massimo Perotti, Chairman and Chief Executive Officer of the Company, commented:

«In 2024 we delivered significant strategic milestones, surpassing €100 million net profit threshold, around four times higher compared to 2019, as proof of the effectiveness of our long-term vision. We proudly confirm the complete realization of our objectives with record results, the consolidation of our direct distribution network and entry into the sailing yacht segment.

The Group’s solid financial position allows us to continue investing in growth and consolidating our leadership in the most profitable and resilient market segments. Today’s presentation of the 2025 Guidance, in the current macroeconomic and geopolitical environment, reflects a journey of continued sustainable progress. This trajectory is further strengthened by the evolution of our industrial model, leveraging strategic acquisitions that continue to enhance the appeal of our product range.

These important milestones further differentiate our unique positioning as a global icon of ‘beauty made-to-measure’, seamlessly combined with cutting-edge technological expertise, within a solid and well-established business model aimed at gradual and sustainable growth over the medium-long term.»