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SANLORENZO FY 2025 PRELIMINARY RESULTS 13 FEBRUARY 2026
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2A 2 GROWTH M&A INTEGRATION +3.2% Revenue1 growth YoY +16.0% Order Intake growth YoY 18.8% EBITDA Margin 34.1 €m Q4 25 Net Cash Flow Generation • Strengthened footprint in high- potential USA, Brazil and Mexico • Network expansion to greenfield Australia and Japan 6 consecutive quarters of Order Intake growth NAUTOR SWAN • Already profitable in year 1, after years of losses • Integration on track SIMPSON MARINE • Fully integrated, right-sized • Distribution and service platform leveraged across Group • APAC growing by +5.1% YoY, with strong Q4 uptick (+52.5%) 1. Net Revenues New Yachts (FY 2025P vs. FY 2024 growth) 2. SD132, SX120, SL110A, BGX83, MaxiSwan 128, Swan 51 2025 Key Achievements 6 successful new models2 world premieres
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2A 3 Consistently outperformed the Luxury sector Sanlorenzo NRNY vs Luxury(1) Net Revenues (EUR) (trend setting 2019=100) Sanlorenzo Yearly delta growth % in revenues vs Luxury(1) (Net Revenues New Yachts YoY % for Sanlorenzo) CLIENTS STRONGER FUNDAMENTAL NEEDS UHNW customer base, driven by: • Wellbeing & longevity • Unique experiences • Quality time scarcity value SANLORENZO PRODUCT LEADERSHIP • Volume-scarcity & high- price advantage • Leader for connoisseur yachtsmen NO EXPOSURE TO ASPIRATIONAL CLIENTS -3.7% Luxury SL +3.2% 100 100 129 162 184 204 211 100 87 117 138 148 147 142 2019 2020 2021 2022 2023 2024 2025E Sanlorenzo Net Revenues New Yachts (EUR) Average Luxury - Net Revenues (EUR) 13.2% -6.6% 8.9% 6.0% 11.6% 6.9% -15% -10% -5% 0% 5% 10% 15% 20% 25% 30% 35% 2019 2020 2021 2022 2023 2024 2025E Delta Growth Sanlorenzo vs Luxury Luxury Revenues YoY Growth % (EUR) 1. Luxury revenues trend calculated as weighted average of Brunello Cucinelli, Hermes, Ferrari, LVMH, Kering, Ferragamo, Moncler, Prada, Burberry, Swatch, Porsche, Aston Martin, Richemont and Technogym. Source: Management analysis on company financial statements and Factset consensus estimates for FY2025
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BUSINESS UPDATE Q&A PRELIMINARY FY25 RESULTS
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20.1 29.1 FY 2025P FY 2024 2A Net Revenues New Yachts1 / (€m) +3.2% EBITDA / (€m and % on Net Revenues New Yachts) +2.4% EBIT / (€m and % on Net Revenues New Yachts) +0.4% Organic Investments2 / (€m and % on Net Revenues New Yachts) Net Cash 3 / (€m) -0.3% 5 Group Net Profit / (€m and % on Net Revenues New Yachts) 1. Calculated as the sum of revenues from contracts with customers relating to new yachts (recognised over time with the cost-to-cost method) net of commissions. In accordance with IFRS standards, revenue calculation includes the difference between the value contractually attributed to the pre-owned boats traded in and their relative fair value 2. Increases in property, plant and equipment and intangible assets with a finite useful life, net of the carrying amount of related disposals, without considering changes in consolidation perimeter. Total investments in FY 2025P equal to €49.4m, including €0.8m from the consolidation of AF Arturo Foresti S.r.l. and 0.4 from the consolidation of Mediterranean Yacht Management Sarl (including IFRS 16 effect) 3. Calculated in accordance with ESMA document 32-382-1138, 4 March 2021. A positive figure indicates a net cash position. IFRS 16 liabilities accounting for €28.0m as of 31 December 2025 and €25.5m as of 31 December 2024 Incidence YoY Growth YoY Growth YoY Growth 2025 key financial achievements FY 2025 PRELIMINARY RESULTS – HIGHLIGHTS 107.4 103.1 FY 2025P FY 2024 48.2 49.3 FY 2025P FY 2024 180.6 176.4 FY 2025P FY 2024 960.4 930.4 FY 2025P FY 2024 139.9 139.3 FY 2025P FY 2024 ~ 19.0% 18.8% 15.0% 14.6% 11.1% 11.2% 5.0% 5.3% After 34.8m Dividend paid +4.2% YoY Growth
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1. Calculated as the sum of revenues from the sale of new yachts (recognised over time with the cost-to-cost method) and pre-owned boats, net of commissions and trade-in costs of pre-owned boats 2. The figures from 2019 to 2022 refer to Adjusted EBITDA; the figures from 2023 to 2025 refer to Reported EBITDA, which differs from Adjusted EBITDA for less than 0.5% 3. Capex exclude M&A transactions 4. Growth calculated on the mid-point of the 2025 Guidance range where the target is expressed as a range 6 €m Margin as % of Net Revenues New Yachts 2019 Actual 2020 Actual 2021 Actual 2022 Actual 2023 Actual 2024 Actual 2025 Consolidated Preliminary Results 2025 Guidance4 Net Revenues New Yachts1 YOY GROWTH % 455.9 457.7 +0.4% 585.9 +28.0% 740.7 +26.4% 840.2 +13.4% 930.4 +10.7% 960.4 +3.2% ~ 960 +3% EBITDA2 YOY GROWTH % 66.0 70.6 +7.0% 95.5 +35.3% 130.2 +36.3% 157.5 +21.5% 176.4 +12.0% 180.6 +2.4% ~ 180 +2% EBITDA Margin2 YOY GROWTH % 14.5% 15.4% +0.9% 16.3% +0.9% 17.6% +1.3% 18.7% +1.1% 19.0% +0.2% 18.8% -0.1% ~ 18.7% -0.3% EBIT YOY GROWTH % 43.1 49.0 +13.7% 72.2 +47.3% 102.7 +42.2% 125.9 +22.5% 139.3 +10.6% 139.9 0.4% ~ 140 FLAT EBIT Margin YOY GROWTH % 9.5% 10.7% +1.2% 12.4% +1.7% 13.9% +1.5% 15.0% +1.1% 15.0% FLAT 14.6% -0.4% ~ 14.5% -0.5% Group Net Profit YOY GROWTH % 27.0 34.5 +27.7% 51.0 +47.8% 74.2 +45.5% 92.8 +25.2% 103.1 +11.1% 107.4 4.2% 103 – 107 +2% Capex3 INCIDENCE ON NRNY % 51.4 11.3% 30.8 6.7% 49.2 8.4% 50.0 6.8% 44.5 5.3% 49.3 5.3% 48.2 5.0% 48 – 50 5.1% SANLORENZO EXTENSIVE TRACK-RECORD Guidance met at all levels
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Net Revenues New Yachts are calculated as the sum of revenues from contracts with customers relating to new yachts (recognised over time with the cost-to-cost method) net of commissions. In accordance with IFRS standards, revenue calculation includes the difference between the value contractually attributed to the pre-owned boats traded in and their relative fair value. Breakdown by division Breakdown by geography 51.2% Yacht €491.4m 29.3% Superyacht €281.5m 8.9% Bluegame €85.5m 10.6% Nautor Swan €102.0m 60.3% Europe €579.6m 20.7% Americas €198.8m 9.1% MEA €87.6m 9.8% APAC €94.4m • Yacht at -5.4% in FY25 YoY (+8.2% in Q4 YoY) with larger units kicking into production after Q3 shift; Superyacht +0.5% YoY (-10.0% in Q4 because of production seasonality after intense delivery season); Bluegame (-7.4%) successfully navigates the headwinds in the segment below 24mt. Exceptional performance of Nautor Swan (+45.1% in Q4 25 vs Q4 24) confirming the integration achieved and strategic rationale of the acquisition • Americas FY25 at +35.5% YoY supported by penetration in new markets in Central and South America; APAC turns positive +5.1% YoY, marking a strong uptick in Far East in Q4 (+52.5%) confirming the integration achieved with the Simpson Marine strategic platform. Europe at +1.3% YoY with Q4 performance (-19.8%) linked to a more balanced quarterly global mix in favour of APAC approaching yachting season, while MEA (-28.0%) showing a physiological lumpiness given the low-number/high-average-ticket market (+100.0% in Q4 YoY) 12A Preliminary FY 2025 Net Revenues New Yachts at €960m, +3.2% YoY 960.4 213.5 240.6 236.0 270.2 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025P Quarterly evolution / (€m) +3.2% 840.2 930.4 960.4 FY 2023 FY 2024 FY 2025 YoY comparison / (€m) +10.7% 7 FY 2025 PRELIMINARY RESULTS – NET REVENUES NEW YACHTS FY25 revenue mix more balanced Of which <8% with US clients, and ~3% below 30 meters
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2A Profitability evolution as planned, with solid increase in Net Profit (+4.2%) EBIT / (€m and margin % on Net Revenues New Yachts) 125.9 139.3 139.9 15.0% 15.0% 14.6% 5.0% 7.0% 9.0% 11.0% 13.0% 15.0% 0 20 40 60 80 100 120 140 160 180 200 FY 2023 FY 2024 FY 2025P +0.4%+10.6% 157.5 176.4 180.6 18.7% 19.0% 18.8% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% - 50.00 100.00 150.00 200.00 FY 2023 FY 2024 FY 2025P EBITDA / (€m and margin % on Net Revenues New Yachts) +2.4%+12.0%YoY Change % 8 FY 2025 PRELIMINARY RESULTS – MARGINALITY Profitability secured by mix evolution and pricing power Group Net Profit / (€m and margin % on Net Revenues New Yachts) +4.2%+11.1% 92.8 103.1 107.8 11.1% 11.1% 11.2% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 0 20 40 60 80 100 120 140 160 FY 2023 FY 2024 FY 2025P • EBITDA up +2.4% YoY, margin at 18.8% on Net Revenues New Yachts • Stable margin YoY even after Nautor Swan full FY consolidation • Sanlorenzo without Swan dilution expands marginality driven by accretive product mix, sustained by pricing power and a predominantly variable cost structure underpinning margin resilience • EBIT up 0.4%, discounting a higher D&A incidence of Nautor Swan given legacy investments carried out before the acquisition • Group Net Profit up +4.2% YoY, with double-digit margin (11.2%) supported by tax benefits extending also into 2026, more than offsetting the increased financial expenses after 2024 acquisitions
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1,963 1,002 384 960 618 Order Backlog 31-Dec 2025 2025P NRNY Net Backlog 31-Dec 2025P Of which 2026 2027 and beyond 2A Backlog is calculated as the sum of the value of all orders and sales contracts signed with customers or brand representatives relating to yachts for delivery or delivered in the current year or for delivery in subsequent years. For each year, the value of the orders and contracts included in the backlog refers to the relative share of the residual value from 1 January of the current year until the delivery date. Backlog relating to yachts delivered during the year is conventionally cleared on 31 December. FY 2025P Order intake and backlog / (€m) Order backlog composition / (€m) 1,020 1,963 1,002 943 960 Net Backlog 1-Jan 2025 Order intake FY 2025P Order Backlog 31-Dec 2025 Net Revenues New Yachts FY 2025P Net Backlog 31-Dec 2025 9 High-quality Order Backlog 88% SOLD TO FINAL CLIENTS +16.0% vs FY 2024 vs Order Intake of 813m in FY 2024 €943 million of Order Intake, +16.0% YoY (+€130 million) FY 2025 PRELIMINARY RESULTS – BACKLOG EVOLUTION
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2A Sold deliveries extending up to 2029, with 88% of Order Backlog sold to final clients Backlog by division / (€m) Timing of scheduled deliveries up to 2028 up to 2029 up to 2028 up to 2027 370 44% 483 56% Yacht > 30 mt < 30mt 852 79% final clients 430 53% 356 47% Superyacht > 1,000 GT < 500 GT 786 100% final clients 98% final clients Nautor Swan 208 Bluegame 67% final clients 117 10 Sold deliveries up to 2029, waiting lists for 30+ meters FY 2025 PRELIMINARY RESULTS – BACKLOG BREAKDOWN
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2A 11 Order Intake consistently growing since Q3 2024 FY 2025 PRELIMINARY RESULTS – ORDER INTAKE EVOLUTION 1,070 1,042 1,020 1,003 170 168 178 181 155 241 253 260 270 208 840 230 930 253 960 Net Backlog 1-Jan-23 Order Intake Q1 2023 Order Intake Q2 2023 Order Intake Q3 2023 Order Intake Q4 2023 Revenue FY 2023 Net Backlog 1-Jan-24 Order Intake Q1 2024 Order Intake Q2 2024 Order Intake Q3 2024 Order Intake Q4 2024 Revenue FY 2024 Net Backlog 1-Jan-25 Order Intake Q1 2025 Order Intake Q2 2025 Order Intake Q3 2025 Order Intake Q4 2025 Revenue FY 2025 Net Backlog 1-Jan-26 6th consecutive quarter of Growth in Order Intake 96Nautor Swan acquired backlog +10.1% vs Q4 2025
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2A Organic Net Capex at ~€48m, incidence decreasing to 5.0% on Net Revenues New Yachts • T otal Net Investments at €49.4m, of which €48.2m Organic Capex and €1.2m perimeter impact from the consolidation of: o AF Arturo Foresti (strategic supplier of Bluegame operating in the field of electrical systems) o Mediterranean Yacht Management (in-house brokerage company of Nautor Swan) • 89% of Organic Capex are expansionary: o ~€22.6m for new industrial & distribution capacity o ~€20.4m for new product development • Recurring Capex at ~€3.0m (~0.3% of Net Revenues New Yachts) Organic Capex YoY comparison / (bar: €m and % of the total; line: % on Net Revenues New Yachts) 23.6 22.6 3.2 3.0 20.0 20.4 2.5 2.2 49.3 48.2 5.3% 5.0% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 0.00 10.00 20.00 30.00 40.00 50.00 60.00 FY 2024 FY 2025P Other investments R&D and product development Recurring industrial New industrial & distribution capacity Capex as % of Net Revenues New Yachts 12 Expansionary Capex supporting business development FY 2025 PRELIMINARY RESULTS – INVESTMENTS
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Note: Net Financial Position calculated in accordance with ESMA document 32-382-1138, 4 March 2021 2A • €20.1m Net Cash Financial Position, after €48.2 organic capex and €1.2m of extraordinary acquisitions of AF Arturo Foresti and Mediterranean Yacht Management • Working Capital slightly better than expected • Net Cash includes €28.0m of IFRS 16 lease liabilities as of 31 Dec 2025 (vs €25.5m as of 31 December 2024) Q4 Net Cash generation, strong Net Cash position FY 2025 PRELIMINARY RESULTS – NET CASH POSITION Net Financial position (positive value equals Net Cash) / (€m) 29.1 -28.1 -8.3 -14.0 20.1 31-Dec 2024 31-Mar 2025 30-Jun 2025 30-Sep 2025 31-Dec 2025 After €34.8 Dividend distribution +34.1m Net Cash-flow in Q4 13
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BUSINESS UPDATE Q&A PRELIMINARY FY25 RESULTS
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2A 15 Iconic flybridge with patented Asymmetric design Foil technology, straight from the America’s Cup Flagship composite semi-displacement Legendary 51ft performance cruiser Flagship model of revolutionary crossover range Bluegame BGF45 Swan 51 Maxi Swan 128 Sanlorenzo SL110/A Sanlorenzo SX120 Sanlorenzo SD132 Exceptional success of new models’ premiere in 2025 First Dual Energy Swan 51 presented in Düsseldorf Flagship 40mt Maxi Swan 128 in carbon fiber
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2A 16 Exciting pipeline of new models for 2026 TIMELINE OF RELEASES FOR 2026 FIRST MODEL unveil of new Bluewater SWANSCAPE LINE NEW MODEL unveil Classic Swan line NEW MODEL completing the iconic BG range Q1 26 Q3 26Q2 26 Q4 26 NEW MODEL unveil Yacht <30mt NEW MODEL unveil Yacht >40mt NEW MODEL unveil Superyacht NEW MODEL unveil Yacht ~30mt NEW Swan 80 launch Gateway to Maxi range NEW Swan Alloy 44 Digital reveal of first model NEW BGX83 – FLAGSHIP Dusseldorf premiere
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2A 17 • Introduction in October 2025 of the new Sanlorenzo Heritage – “SHE” – line, with an exclusive one-off 25.5m model • SHE embodies Sanlorenzo’s ability to merge heritage and technology, combining 1960s-inspired lines with hybrid Volvo Penta IPS propulsion and bio-based materials “An elegance that doesn’t shout, an innovation that respects, and a design that endures” Sanlorenzo Heritage: a tribute to Timeless Elegance
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11A 18 “Our new home at Pier Sixty-Six stands as a tangible symbol of Sanlorenzo’s commitment to the Americas – a place where design, innovation and community meet.” - Massimo Perotti Pier 66 Fort Lauderdale (HQ) NEW AMERICAN HQ OPENED IN PIER SIXTY-SIX A strategic hub elevating client experience and owner community JOINT OFFICE WITH EDMISTON IN THE HAMPTONS for Swan Alloy brokerage in US market 2026 AMERICAN PREMIERE IN MIAMI SL120A AND SL86A featuring the unique Sanlorenzo Asymmetric design Strategic Hubs for Americas Market Leadership Newport
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1 Ongoing execution of global geographic expansion 1A 19 INCEPTED LOCAL PRESENCE IN AMERICAS ENTRANCE IN NEW GREENFIELD COUNTRIES Perth • New Sanlorenzo Japan Brand Representative, based in T okyo, one of the wealthiest cities in the world in terms of number of UHNWI • Leveraging new marina infrastructure and recent deregulation • Direct office opening in Sydney, leveraging Simpson Marine structure, now yielding results in terms of sales and commercial pipeline • Next opening in Perth with commercial partner to cover the Australian West Coast planned for 2026 • New Brand Representatives signed in Q4 2025 in Brazil and Mexico • Reinforcing strategic South American markets with local commercial presence Sydney T okyo Americas HQ
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BUSINESS UPDATE Q&A PRELIMINARY FY25 RESULTS
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APPENDIX
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Business model translating into superior risk-return profile 2A Notes: 1) Based on FY 2025 preliminary results 2) as of 30 September 2025; 3) Average based on the contracts signed with repeat clients from 2013 to 2023 SUPERIOR RESILIENCY THROUGH THE CYCLE BEST-IN-CLASS EBITDA MARGIN ~18.8% 1 BACKLOG QUALITY 88% FINAL CLIENTS2 UHNWI LOYAL CLIENTS 4.5 YEARS RECURRENCE3 LEADERSHIP IN THE SWEET SPOT OF THE MARKET 22
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Monobrand strategy for each market, with no overlaps1 24mt 75mt Motor-yachts monobrand 23 13mt Motor-boats niche 13mt 40mt Sailing-yachts monobrand 80% 10%10% (1) (1) 1. Based on Group Net Revenues New Yachts as of 9M 2025 Sharing an exclusively absolute luxury positioning reinforced by scarcity philosophy and desirability 2025 [NEW] CRUISER FOIL BGF LINE MULTI-HULL MOTOR YACHT BGM LINE 2023 2019 2018 1958 2006 - 2009 2015 - 2017 2022 - 2023 2027 1966 CROSSOVER BGX LINE MULTI-PURPOSE OPEN BOAT BG LINE FLYBRIDGE SL LINE NAVETTA SD LINE SUPERYACHT LINE STEEL LINE CROSSOVER SX LINE SPORT COUPE’ SP LINE STEEL NAVETTA XSPACE LINE [NEW] SL HERITAGE SHE LINE PERFORMANCE CRUISER SWAN LINE since 1966 MAXI MAXISWAN LINE since 2006 RACER CLUBSWAN LINE since 2006 MOTOR SHADOW LINE since 2021 ARROW LINE since 2024 [NEW] ALUMINIUM SAILING YACHT SWAN LINE from 2027 [NEW] BLUEWATER SWANSCAPE LINE from 2027 Heritage EXPLORER EXP LINE (1) upselling
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Notice to recipient This presentation is being provided to you solely for your information and it may not be reproduced or redistributed to any other person. The information contained in this presentation, which has been prepared by Sanlorenzo S.p.A. (the “Company”) and its consolidated subsidiaries (together, the “Group”) and it is under the responsibility of the Company, does not constitute or form part of any offer to sell or issue or invitation to purchase or subscribe for, or any solicitatio n of any offer to purchase or subscribe for, any securities of the Company, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision. The information and opinions contained in this document are provided as at the date of the presentation and are subject to change. Neither the Company nor the Group are under any obligation to update or keep current the information contained in this presentation. Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. The director in charge of preparing the corporate accounting documents, Attilio Bruzzese, declares that pursuant to and for the purposes of article 154-bis, paragraph 2 of Italian Legislative Decree no. 58 of 1998, the accounting information contained in this document corresponds to company documents, ledgers and accounting records. Forward-Looking Statements: this document may include projections and other “forward-looking” statements within the meaning of applicable securities laws. In particular, all statements that address expectations or projections about the future, including statements about operating performance, market position, industry trends, general economic conditions, expected expenditures, cost-savings, synergies and financial results, are forward-looking statements. Consequently, any statements contained herein that are not statements of historical fact are forward -looking statements. Forward-looking statements are based on assumptions and current expectations and involve a number of known and unknown risks, uncertainties and other factors that could cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Accordingly, actual events or results or actual performance of the Company or the Group may differ significantly, positively or negatively, from those reflected or contemplated in such forward -looking statements made herein. The Group expressly disclaims any duty, undertaking or obligation to update publicly or release any revisions to any of the information, opinions or forward looking statements contained in this document to reflect any events or circumstances occurring after the date of the presentation of this document. No representation or warranty is made as to the achievement or reasonableness of, and no reliance should be placed on, such forward-looking statements. Any reference to past performance or trends or activities of the Company shall not be taken as a representation or indication that such performance, trend or activity will continue in the future. This presentation contains alternative performance indicators that are not recognized by IFRS. Different companies and analysts may calculate these non-IFRS measures differently, so making comparisons among companies on this basis should be done very carefully. These non-IFRS measures have limitations as analytical tools, are not measures of performance or financial condition under IFRS and should not be considered in isolation or construed as substitutes for operating profit or net profit as an indicator of our operations in accordance with IFRS. Contacts www.sanlorenzoyacht.com investor.relations@sanlorenzoyacht.com