Sanlorenzo launches MY ‘111’...

< < Go back

Sanlorenzo launches MY ‘111’...

Yard Updates

She is the 7th 40 Alloy.

MAY 2012

Sanlorenzo has launched its 7th 40 Alloy, MY 111. She was craned into the water in Viareggio, which is where the Aeglia-headquartered company’s big-boat operations are based.
Reinvented by ex-Azimut managing director Max Perotti, following his private-equity backed acquisition of the company in ’05, Cantieri Navale Sanlorenzo is one of the big industry success stories of the past six or seven years. Pre-Perotti, the company's turnover in ’05 was less than £33 million (€40 million) or so and it built a limited range of conservatively styled and good-quality composite planing motoryachts. Today it series builds from a much larger portfolio – composite planing and semi-displacement motoryachts, as well as aluminium semi-displacement and steel/aluminium displacement superyachts. For '10/11 its turnover was around £165 million (€196 million) on the sale of 37 boats, which placed it firmly in the Top 10 production yachtbuilders in the world. And the ’11/12 result is forecasted to be around £172 million (£205 million) on around 40 new-buildss delivered. But its approach is not about pushing up unit volumes significantly. But rather it is making a boutique model work ‒ a ‘less is more’ philosophy. And its paying off. Its EDITDA record for the past seven years are as follows €3.7 million (2004/05), €9 million (2005/06), €11 million (2006/07), €24 million (2007/08), €17 million (2008/09), €17 million (2009/10) and €21 million (2010/11).
Sanlorenzo does not have dealers as such, but rather uses brand-representative offices that it part-owns, although it also deals with brokers; it finds that's the best way to manage but still incentivize the individuals selling the boats. However, a late '10 deal with the Rodriguez Group with regard to France and Monaco markets goes against that model.

For more, www.sanlorenzoyacht.com

© Phil Draper