Good afternoon to everybody. Good afternoon. Afternoon, we can start, I think. [Foreign language] Okay, perfect. I give the floor. We have Massimo Perotti, the Chairman, Attilio Bruzzese, Group CFO, and Ivan Cutrufello. I will pass the floor to Attilio for the nine months summary. Thank you, Massimo. C ontinue the expansion of the group into the nine months result, where the double-digit growth in all metrics on track with the guidance 2023 just increased last August. The outstanding performances in the first nine months, 2023, are once again a consequence of the unique Sanlorenzo business model, a clear strategy, and a strong execution. In particular, analyzing figures, net revenue new yachts grow more than 15%, to EUR 627 million, led by the excellent performance in Europe and fostered by excellent of results of new launched models. EBITDA increased year-on-year more than 22% at EUR 113.8 million, and margins on net revenue new yachts broke first time the 18% and reached 18.2 record. As well, EBIT and the group net profit grow, respectively, year-on-year, more than 23% and 28%, considering the positive contribution of all the group areas, including the financial management. Investment for EUR 26 million on a like-for-like basis, mainly related to increase in production capacity and new product developments, with a relevant reduction of incidence on net revenue new yachts, under the 10 basis point. T hen you can see a strong net financial position at EUR 145.6 million, end of September 2023. This is a strong cash generation of EUR 45.3 million in nine months, 2023, net of cash outflows for investment, dividend, and buyback program. Now, we can analyze figures more in detail, starting from the top line. The quarterly evolution shows an acceleration of Q3 2023 revenues at EUR 237.6 million, that represent a +19.3% versus the same period, 2022. We had a very positive performance by all divisions, considering the solid result of the yacht division, where the SL and SP lines, the excellent growth of superyacht division, supported especially by steel and alloy lines, and the new X-Space line, and continue the expansion of the Bluegame, driven in particular by the new BGM and the BG lines. The breakdown by geography confirms once again the strong expansion in Europe, more than 40%, and an extraordinary growth in EMEA region, which have more than offset the reduction in the Americas, affected by general slowdown, you remember, influenced by the level of interest rate and in the APAC region. The top line is driven by the backlog at the record level of EUR 1.7 billion. Therefore, the market remains dynamic. A fter the three European boat show in September, with a strong interest, in particular from European customer and also American customer, significant is order intake of Q3 2023 at EUR 253 million, and the nine months order intake of approx EUR 604 million. With a strong contribution, also from the new models, SX100 and BGM 75, presented at the last Cannes Boat Show. The solid backlog gave to Sanlorenzo an almost a total coverage for 2023, with EUR 819 million, around 98% of revenue of the guidance 2022, and, especially with the EUR 855 million, that represent the greatest visibility on future result from 2024 and beyond. Furthermore, the backlog is very consistent and high quality, considering that it is solid and 91% to final customer and we've sold the delivery up to 2025, 2027, respectively for the Bluegame yacht and superyacht division. I t is also important to underline the very limited stock available on the market, and brand representative network for new and second-hand yachts. About the profitability, the EBITDA margin reached the record of 18.2%, considering the rigorous focus on profitability for the group. Profitability shows a progressive increase at all levels, from the EBITDA to group net profit, and it is greatly driven by increase in selling price, with ability to translate cost inflation to final customer and on-time delivery, and a better product mix to larger yacht for all the divisions. The group net profit at 10.7% on net revenue new yachts, benefit also by a robust financial income around EUR 3 million. Continue again our investment plan that reached the amount of EUR 26 million, end of September 2023, at constant perimeter. 85% related to the expansion in and increase in new production capacity, EUR 13.3 million, and new product development, EUR 8.9 million, dedicated to all the division. In addition, the change in perimeter is EUR 17.1 million, mainly related to the Duerre acquisition. You can see also that the incidence of the CapEx on net revenue new yachts decreased to 4.2%. We have also a high level of cash generation. You can appreciate, considering the high margin reached and the working capital evolution, in fact, remain very efficient, the net working capital, and persistently negative at -EUR 59.5 million in September 2023, compared with EUR 45.8 million in September 2022, thanks to the high-quality backlog, 91% covered by final customer, and to a disciplined inventory management. Consequentially, the net cash position in September 2023 reached EUR 145.6 million, with a cash generation of more than EUR 45 million in nine months. After to EUR 22.9 million for dividend payment, EUR 41.3 million for CapEx and M&A consolidation effect, and again, EUR 3.1 million for stock buyback in the nine months 2023. C onsidering all this, information, and the analysis of the financial result, I leave the floor to Massimo to continue with the business items. Thank you, Attilio. I think all of you know this guidance. The guidance has been improved at H1, as you know. We confirm the guidance. 98% of the sales has been already achieved by September 30, so we have zero risk on the 2023 result. And we confirm the high single-digit growth for the revenue for 2024 and 2025, and the goal to reach 19.5%-20% EBITDA margin by the end of the three-year plan. The sales situation for 2024, we are at around 60% of the revenue of 2024, so already sold with content and deposit received, and approximately 30% volume on 2025. So I think this is very positive. The boat shows in September and, lastly, the end of October in Fort Lauderdale. September was in Europe, and the end of October in Fort Lauderdale in America has been good. It's not only a position of Sanlorenzo, I think it's a position of the whole industry, especially the boat above 20 m- 24 m, t he market is very solid, and we can consider the market situation, the order intake, the portfolio of orders. We have almost a bridge to middle end of 2025, which is a nice way to be. Next, we would like to show you, only this is the first time this picture is giving you the exact situation of the business where Sanlorenzo has its core business. You can see on the left, you know that 66% of our share is in Europe, and you can see that from 30 m-50 m, which is our core business, 47% are both coming from a European customer. 18% from East Europe, 16% from Western Europe, and 13% from South Europe. There is a good new situation coming from Eastern Europe, which is very good. At the Cannes show, we sold three boats to Bulgaria, a 62-m to a Hungarian customer. T here is the Eastern Europe coming pretty strong, which is good news. On the right side, we try to summarize where is the most business coming from, and then you see that the 41% is business coming from 30 m-40 m, 26% from 40 m-50 m. T hat means that 67% of the business worldwide is coming from 30 m-50 m, where we have, as you see below, 75% of our business, of our production. T his sheet is showing you that we are focusing geographically and as a segment of business in the two part where the market is stronger. That is an advantage, is typical of our business model, which is a big plus. Then we decided to try to summarize the Sanlorenzo's position, showing you the Sanlorenzo business model, showing you five important pillars that we consider typical exclusively to the Sanlorenzo business model. You can see on the left, we are best in class in EBITDA margin, 18.5%. Our EBITDA margin, as you know, since the beginning, is growing almost 1% or 1.2% per year, with a lot of stability from 2019 to 2023, and we consider that a very important position. The second pillar, we consider the cycle. We are cycle-insulated. You know that the history is proven. Sanlorenzo business model, monobrand, is the most resilient company in the yacht industry, and this is an important pillar for the investor we consider. The third pillar is the quality of the backlog. You know from the market that most of the larger players in yachting today, they declare high backlog, which is good. That means the market is strong. W e would claim to be the only company with a real quality backlog, because 91% to final client is very important. We do not have the selling, sell-out problem. If you go back to page five, you see that our rate of final client is 100% on the superyacht, 87% on yachts above 30 m above 27 m-2 0 m. Then is 62% on Bluegame. Bluegame is a niche market. For us, it's less than 10% of the business b ut there you see how going lower than 24 m in the business, then you have to rely to the dealer network much more. T he final client percentage goes from 100% to 87% to 62%, going down in the yacht dimension. G oing back to the pillars, that's why we consider at the center of the five pillars, the backlog quality as something that is a peculiarity of Sanlorenzo, which you should consider very carefully. On the right side, the loyal, ultra-high-net-worth, super-rich client club, we can declare the recurrence of buying Sanlorenzo yacht coming from our accounts. Accounts is 4.5 a year for the new boat, and the new boat that our customer is buying is averagely 40% bigger in volume and revenue. 74% price. In 74% price. The last pillar is related to the last page we show you. We have the leadership in the largest 30 m-50 m brand segment of business, and we are selling two-thirds of our revenue in Europe, which is also taking almost more than 50% of the business in that segment. T hat is considered also a very nice leadership position. We'd like to summarize that because it's really giving you the picture of the Sanlorenzo business model. Then let me move for a few seconds, a few minutes, to what we achieved in the last three months. You see there, the new lounge opened in Monaco is Villa Portofino, which is 500 m from Port Hercule, the main marina of Monaco. Inside, we have a special high-tech panel that you can see, three-dimensional panel, where our customer can see inside our boat, our boat running in the water without having the problem to fly or to come to the shipyard to see that. That is a nice lounge that we opened in Monaco, in the center of the city. Then we confirm that the due diligence of Simpson Marine is being completed. We are planning to have the closing by the end of the year or latest, the end of January. Therefore, the effect on the account financially and on the economic side will come on 2024. So the closing balance sheet December 31st, 2023 will not include the effect of Simpson Marine. We're very happy for this acquisition. As you see, there are 12 sales showrooms and 10 service points in all the regions. Three selling points are in mainland China, two in Sanya, one in Shenzhen. T hen we have the presence in the most important markets, which are Singapore, Hong Kong, Philippines, Vietnam, Malaysia, Indonesia, et c. Very quickly, the new SX100 has been introduced to the Cannes show with a lot of success. It is the middle size of the SX range. Then we have the X-Space superyacht. We sold 7 X-Space before launching number one, which is a nice portfolio for our production. T hen, finally, after three years of heavy work, the first multihull of the group is a Bluegame Multihull 75 ft. You see the style and the design. This is the first catamaran with elegant design coming from the Sanlorenzo group. It's a new era, is a new business that we introduce in the market because, as you know, the catamarans built so far were a totally different type of product, mainly dedicated to the charter and so on. Just to remind you why we entered in the multihull segment, and there you have the reasons. On the left, you have the SD 90, which is a semi-displacement monohull, very efficient hull, which has a comparable volume in respect of the Bluegame Multihull 75. You can see that the consumption of the 90 semi-displacement at 80 knots is 400 liters per hour. Meanwhile, the consumption of the BGM 75, which has the same volume, the same comfort, at 80 knots, is 190 liters, less than half. On the 90 displacement, we have two MTU engine, 1,100 HP. On the BGM 75, thanks to the efficiency of the multihull, we have two Volvo, 600 HP. The comparison based on 300 hour of use is under 130 liter at 80 knots, 175 tons of CO2 saved, 66,000 liter less consumption, equal to EUR 130,000 of money. T hat is the reason why we think that the future market will give us a lot of satisfaction on the BGM business. You know, the BGM business will be 65 ft, 75 ft, 85 ft coming in the next two years. We will complete the range. One information to you related to our Road to 2030. You probably know that we are building the first ever 50 m, which will be in the market by summer 2024, with exclusive relationship, partnership with Siemens. The boat will produce 100 kilowatt hotel electricity through a system using methanol reformer and fuel cell. We got at the Monaco Show, end of September, the certificate from Lloyd's Register. You see the picture here, which is confirming that the construction of the boat and the installation of the new, totally new equipment with methanol fuel cell system, has been approved by the most important classification society. The Charter Fleet, the business is growing. You remember last year we bought 100% of Equinoxe, the company, one of the largest company in Italy. The process is expanding to our direct office in Europe, which is the headquarters in Italy, then Sanlorenzo Baleari, Sanlorenzo Côte d'Azur, and Sanlorenzo Monaco. O f course, we are introducing the charter business, which is peculiar because it will be, we say special Sanlorenzo Charter Fleet, will be introduced in the Americas through Sanlorenzo of the Americas, and expand to Asia Pacific as soon as we will acquire the Simpson Marine, when we will do the closing. T he program is in place and is starting to produce volume and a bit of profit. Just to remember you, for 2023, the contribution of the charter to the result of the guidance is 1%, very minimal, but we expect that contribution to grow for 2024 and 2025. That's it. I think I finished, if you want to start your question. The Q&A can start from here. [Foreign language] G ood afternoon. Maybe if you can share with us the mood that you found at Fort Lauderdale boat shows, and maybe any other worldwide feedback from the US. R elated to that, yesterday your friends of Forlì commented about very strong intake in the month of October. For them, higher than all the collection they had in Q4 last year. A lso on intake, if you can share with us some update for October and maybe November to date. Thank you. Thank you, Storer. Yes, I confirm that after exceptional boat show in September, Cannes, Genoa, and Monaco, we had a very good Fort Lauderdale boat show, mainly on the boat above 30 m. We sold a 44 m at the show, signing a letter of intent and receiving EUR 1 million deposit, not refundable, during the show, because the delivery was our last delivery of 2026. Just to show you that we consider extremely important, extremely solid for the business to keep growing on the order book, considering the long waiting for the customer. Remember that buying a yacht is emotion, it's heart, it's not rational. W hen a customer come to the shipyard and say, "Max, I want a 40 m, a 50 m, and so forth," and you reply, "It's four years, five years delivery," you cut the emotion, and it becomes more and more difficult every quarter, b ut the fact that the last quarter of Sanlorenzo, Q3 2023, you can see there is EUR 253 million, and you see on the left side, that is a bit higher than the Q3 2022, which was EUR 249 million. I can remember you that this is the first time after five quarters that we are selling more than the quarters of the year before. W e consider that a change of... Trend ... a change of trend. E verybody probably reading the article on the newspaper for inflation and the interest rate in July and August was waiting a step back of the business from September, October boat shows. Then I think, and I'm very happy, that our friend from Forlì got the same feeling, because that means that it's not only a quality of Sanlorenzo, but it's coming from the business, it's coming from the yachting industry, the yachting business. We confirm that 253 is the Q1 after five, which is more than one year, which is higher than the year before. It's a sign that the market is there, and it is solid, in spite of Palestine, of Ukraine, and everything. Just to give you an example, Niccolò, we have read in the, on the paper that the luxury business is going down, is losing value in the stock exchange, mainly because the China situation looks not as good as always, and most of the soft luxury company has a big market in China. Some companies, even 50%. You consider that we build 80 boats per year, and we sell three boats in mainland China. I f mainland China is really in crisis, eventually is in a strong downturn, it is really not touching our business. It was like the Russian crisis with the sanction. At that time, we had five Russian customers building boat above 40 m, with a lead time of 30 months. T hat was a round 2.3% of the revenue, and we did not get anything bad from that situation. We overcome the problem very easily. I think that this is a peculiarity of the yacht industry, and that you have to make an effort to see our business a bit different than the soft luxury. If you consider the hard luxury, like Ferrari, then probably you see that Ferrari, in spite of the problems of the war or the China situation, is growing and growing in volume and margin b ecause probably there is a market of super rich, ultra-high-net-worth individual, which is very much bigger than the capacity of the industry to supply yacht, which is the same with the Ferrari situation. Thank you. M aybe can you give us an update on used boat you have on balance sheet at the end of nine months? At the end of nine months, I think there are six. EUR 18 million- Yeah. and they are related. 18, 1, 8? One eight, and for EUR 17 million, they are related to the US market. They are second-hand yachts in the US. Thank you. I f we can see from the market, a weaker situation we can see in America, and there are two reason, in our opinion. One reason is that United States business has been growing dramatically in the last two years. We doubled the volume from 2020, from before COVID to 2022. We used to sell around $80 million per year, and the last year we sold $160 million. T he following year is quite normal. It is a physiological consolidation of the market and a little, maybe a reduction to compensate the extreme increase of the year before. The second reason is the interest rate. America, United States is really peculiar because even if it is a super rich buying a yacht, they like to get the money from the bank system. In Europe, in Asia Pacific, and in the Middle East, this is not happening. W hen a Swiss or a German or a French guy or Hong Kong guy buy a boat of EUR 10 million or EUR 20 million, they buy the boat with their money. In America, they use the financing, therefore, probably the heavy increase of interest is making the purchasing of the yacht a bit more expensive. T he two factors together, they play a role, so that we reduce our business in America, and we have three and four second-hand boats. Three. Three second-hand boats to sell, in the next year. Consider that EUR 18 million out of EUR 850 million revenue is 2%, more or less, of the revenue, which we consider physiologic. Thank you. Can you hear me? It's Oriana Cardani from Intesa Sanpaolo. Buonasera, Oriana. Buonasera. Regarding the expectation of the order intake in Q4, do you expect that, also in Q4, you would be able to exceed the order intake recorded, last year, like in Q3? I have to ask, Attilio, how much was last year, because I have quite a clear picture of the Q4 b ecause we already, as the Forli guys told you the day before yesterday, we already accrue a lot of orders in October, thanks to the follow of the show. How was the order intake in Q4 2022? It was around EUR 150 million. Yes. I would say 90% we will get a little more order in Q4 2023, in respect of Q4 2022. I'm positive. Okay, thank you. As we said, we consider the Q3 2023 a change of trend, because after five quarters with an intake lower than the year before, the Q3 2023 is showing that the market is really stable and strong. The fact that the Ferretti Group is telling you the same, and we know from Azimut Benetti and from the other important player in the market, that they sold a considerable amount of boat in the last two months, that is showing that the market is really alive. Yeah. Exactly, the number is EUR 159.1 million. Okay. Thank you very much. Hi, everyone. Congratulations on your results, and can I please ask a question? I just have a quick one. Sure. R egarding your midterm guidance for 2025, is there any cadence between 2024 and 2025 just for our modeling that we have to consider based on the backlog that you're currently seeing? Is it likely to be more or less equally split or more weight to 2024? A similar question would be for your margin guidance as well, if you can provide any color. Yes, more or less, Daria. We don't see a difference. We expect something between 8% and 9% in the two years. There is no sign today for me in the business that can. I cannot see any color between the two years. Of course, having sold already 60% of the revenue of 2024, and 30%, which is 2025, and a piece in 2026, 2024 will be more stable, more possible because we have more vision on our order book for 2024, b ut we are not going to increase the volume of 2024, even if we will have more orders, because now we have to grow with the thoughtful value. We like to go back to our, original strategy, original philosophy, with the high single-digit growth, b ecause, I can say that the last expansion of the business is giving some, restriction, some attention to the supply chain. It is not that easy to increase the quality craftsmanship that we need to build Sanlorenzo, month after month. We are working very, very hard with our Sanlorenzo Academy to get young good people from university and from school to work 6 months-12 months in our academy to learn and then be transferred to the production and to our supply chain. T he supply chain today is becoming a little restriction in the growth. W e do not expect to grow more on the 2024 than the 2025. Different is something that can come from outside growth from a M&A operation that we could do, and in that case, that extra business is not forecast in the guidance. So if we will do it, it will be on top of the guidance. Perfect. Thank you very much. That's really helpful. Perfecto. Thank you very much. I think it seems that there is no other question. [Foreign language] You make three questions. I can reply to one. You decide to now, aside the planning, yes, I confirm to you the M&A acquisition. I cannot confirm to you what kind of product, because that is a little too detailed. I confirm to you that is a matter of the Q1 of 2024, and I confirm to you that also on the side of the refit, we have a very interesting opportunity in front of us, which should become reality within the first half of 2024. So we are working very, very hard to close, to make the closing of Simpson Marine by the end of the year, beginning of January, middle or end of January 2024, in order to have our brain free to concentrate on the other two deal, which is the refit, to start, as we did it with charter, and the M&A. [Foreign Language] Okay. Is there any other question? Then I consider the short question a good point. I don't know if that is correct or not. I ask Ivan that, Ivan, that is, in the business. We should have some peace of mind. Good. Good. Good. Thank you very much, gentlemen, for your attention and for your time. Thank you. Grazie. Thank you, bye. Thank you.