Sanlorenzo books remarkable progress

Just three years after purchasing the shipyard, Massimo Perotti triples the turnover, acquires the minority holding and announces important expansions for the production area.

On the occasion of the celebrations of the 50th anniversary of Sanlorenzo, Massimo Perotti, Chairman of Sanlorenzo Spa, announces the significant achievements reached after just three years at the helm of the shipyard, which has been designing and producing exclusively “tailor made” crafts for half a century.

In 2005, the year in which Massimo Perotti took over the shipyard from his predecessor and historic owner Giovanni Jannetti, the turnover was 42 million euros and the shipyard produced around 14 crafts a year. Today, the forecasts for the end of the 2008 financial year put the Sanlorenzo Spa turnover at 150 million euros, a growth percentage of 250%, with exclusive production of around 30 units, thanks to the opening of the new Viareggio Division.
In fact, Massimo Perotti has chosen not to increase further the traditional production of fibreglass motor yachts at the Ameglia Shipyard, instead creating a new division, the Viareggio Shipyard, for designing and producing the two new lines of motor yachts: “Navetta” yachts in composite material with semi-displacement hull (from 92 to 122 feet) and metal superyachts (in steel and aluminium) measuring from 38 to over 50 metres. The new facility, where these new Sanlorenzo products have been built for two years, is located in Viareggio, in the yachting centre which is the cradle of international superyacht production.
In July 2008, Massimo Perotti became the sole owner of Sanlorenzo Spa, buying back the minority holding from Mittel Spa, which had a 35% stake in the company in April 2005, when he purchased the shipyard.

Sanlorenzo Spa will close the current financial year with a gross operating margin (EBITDA) of 25 million euros, a percentage of 18%, while the shipyard’s order portfolio has now reached 300 million euros, guaranteeing great economic stability for its future.

Human Resources
The growth of Sanlorenzo also regards the human resources: in 2005, the shipyard had 75 direct employees (employed exclusively by the company), while the external specialist contractors (indispensable in the yachting sector) comprised around 200 people. Today, Sanlorenzo Spa has 250 direct employees and over 600 indirect employees, a significant increase which has led to evident benefits for local employment.

The investments made in 2008 are truly significant and strong increases are expected which, if compared to 2005, the year in which the Sanlorenzo shipyard changed hands, have seen the assets climb from 390,000 to 18 million euros, the investments in dies for the new models from 210,000 to 7.5 million euros and for the implementation of production from 140,000 to 1.8 million euros.

Shipyard Area
The development project for the Ameglia shipyard, the Sanlorenzo headquarters, comprises an area of 100,000 m², including 35,000 m² undercover, within the Regional Nature Reserve of Montemarcello-Magra on the banks of the river Magra (Sanlorenzo has “UNI EN ISO 14001” environmental certification, which guarantees top environmental management standards), not far from the sea. This is a highly prestigious location, logistically ideal for the launch and servicing of the crafts. The new Viareggio Shipyard covers an area of 12,000 square metres, including 7,000 m² under cover.