Sanlorenzo S.p.a. · MIL:SL
Sanlorenzo — FY 2025 Earnings Presentation
24 slides from Sanlorenzo's earnings presentation, Feb 13, 2026
Slide 1: Sanlorenzo FY 2025 Preliminary Results
13 FEBRUARY 2026 SANLORENZO FY 2025 PRELIMINARY RESULTS
Slide 2: 2025 Key Achievements
2A 2025 Key Achievements GROWTH M&A INTEGRATION 6 consecutive quarters +3.2% NAUTOR SWAN of Order Intake growth Revenue1 growth YoY • Already profitable in year 1, after years of losses 6 successful new models2 • Integration on track +16.0% world premieres Order Intake growth YoY SIMPSON MARINE • St
Slide 3: Consistently outperformed the Luxury sector
2A Consistently outperformed the Luxury sector Sanlorenzo NRNY vs Luxury(1) Net Revenues (EUR) Sanlorenzo Yearly delta growth % in revenues vs Luxury(1) NO EXPOSURE (trend setting 2019=100) (Net Revenues New Yachts YoY % for Sanlorenzo) TO ASPIRATIONAL CLIENTS 211 35% 204 -6.6% CLIENTS STRONGER 30%
Slide 4: Preliminary FY25 Results, Business Update, Q&A
PRELIMINARY FY25 RESULTS BUSINESS UPDATE Q&A
Slide 5: 2025 key financial achievements
FY 2025 PRELIMINARY RESULTS – HIGHLIGHTS 2A 2025 key financial achievements Net Revenues New Yachts1 / (€m) EBITDA / (€m and % on Net Revenues New Yachts) FY 2024 930.4 FY 2024 176.4 19.0% +3.2% +2.4% FY 2025P 960.4 FY 2025P 180.6 18.8% YoY Growth YoY Growth EBIT / (€m and % on Net Revenues New Yach
Slide 6: Guidance met at all levels
SANLORENZO EXTENSIVE TRACK-RECORD Guidance met at all levels 2025 €m 2019 2020 2021 2022 2023 2024 Consolidated 2025 Margin as % of Actual Actual Actual Actual Actual Actual Preliminary Guidance4 Net Revenues New Yachts Results Net Revenues New Yachts1 455.9 457.7 585.9 740.7 840.2 930.4 960.4 ~ 960
Slide 7: FY25 revenue mix more balanced
FY 2025 PRELIMINARY RESULTS – NET REVENUES NEW YACHTS 1 2A FY25 revenue mix more balanced Preliminary FY 2025 Net Revenues New Yachts at €960m, +3.2% YoY • Yacht at -5.4% in FY25 YoY (+8.2% in Q4 YoY) with larger units kicking into production after Breakdown by division Q3 shift; Superyacht +0.5% Yo
Slide 8: Profitability secured by mix evolution and pricing power
FY 2025 PRELIMINARY RESULTS – MARGINALITY 2A Profitability secured by mix evolution and pricing power Profitability evolution as planned, with solid increase in Net Profit (+4.2%) • EBITDA up +2.4% YoY, margin at 18.8% EBITDA / EBIT / Group Net Profit / (€m and margin % on Net Revenues New Yachts) (
Slide 9: €943 million of Order Intake, +16.0% YoY
FY 2025 PRELIMINARY RESULTS – BACKLOG EVOLUTION 2A €943 million of Order Intake, +16.0% YoY (+€130 million) FY 2025P Order intake and backlog / Order backlog composition / (€m) (€m) +16.0% vs FY 2024 943 1,963 960 1,963 960 High-quality Order Backlog 1,020 88% 1,002 1,002 618 SOLD TO vs Order Intake
Slide 10: Sold deliveries up to 2029, waiting lists for 30+ meters
FY 2025 PRELIMINARY RESULTS – BACKLOG BREAKDOWN 2A Sold deliveries up to 2029, waiting lists for 30+ meters Sold deliveries extending up to 2029, with 88% of Order Backlog sold to final clients Backlog by division / (€m) Timing of up to up to up to up to scheduled deliveries 2028 2029 2027 2028 79%
Slide 11: Order Intake consistently growing since Q3 2024
FY 2025 PRELIMINARY RESULTS – ORDER INTAKE EVOLUTION 2A Order Intake consistently growing since Q3 2024 6th consecutive quarter of Growth in Order Intake +10.1% vs 930 Q4 2025 960 840 230 253 208 Nautor Swan acquired backlog 96 253 260 270 181 241 155 170 168 178 1,070 1,042 1,020 1,003 Net Order Or
Slide 12: Expansionary Capex supporting business development
FY 2025 PRELIMINARY RESULTS – INVESTMENTS 2A Expansionary Capex supporting business development Organic Net Capex at ~€48m, incidence decreasing to 5.0% on Net Revenues New Yachts • Total Net Investments at €49.4m, of which Organic Capex YoY comparison / €48.2m Organic Capex and €1.2m perimeter (bar
Slide 13: Q4 Net Cash generation, strong Net Cash position
FY 2025 PRELIMINARY RESULTS – NET CASH POSITION 2A Q4 Net Cash generation, strong Net Cash position Net Financial position (positive value equals Net Cash) / (€m) • €20.1m Net Cash Financial Position, After €34.8 Dividend distribution after €48.2 organic capex and €1.2m of extraordinary acquisitions
Slide 14: Preliminary FY25 Results, Business Update, Q&A
PRELIMINARY FY25 RESULTS BUSINESS UPDATE Q&A
Slide 15: Exceptional success of new models' premiere in 2025
2A Exceptional success of new models’ premiere in 2025 Iconic flybridge Flagship model of Flagship composite with patented Sanlorenzo SL110/A revolutionary Sanlorenzo SX120 Sanlorenzo SD132 semi-displacement Asymmetric design crossover range First Dual Energy Swan 51 presented in Düsseldorf Foil tec
Slide 16: Exciting pipeline of new models for 2026
2A Exciting pipeline of new models for 2026 Q1 26 Q2 26 Q3 26 Q4 26 NEW MODEL unveil NEW MODEL unveil Yacht <30mt Superyacht NEW MODEL unveil NEW MODEL unveil Yacht >40mt Yacht ~30mt NEW BGX83 – FLAGSHIP Dusseldorf premiere NEW MODEL completing the iconic BG range NEW Swan 80 launch NEW Swan Alloy 4
Slide 17: Sanlorenzo Heritage: a tribute to Timeless Elegance
2A Sanlorenzo Heritage: a tribute to Timeless Elegance “An elegance that doesn’t shout, an innovation that respects, and a design that endures” • 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 m
Slide 18: Strategic Hubs for Americas Market Leadership
1 1A Strategic Hubs for Americas Market Leadership NEW AMERICAN HQ OPENED IN PIER SIXTY-SIX A strategic hub elevating client experience and owner community 2026 AMERICAN PREMIERE IN MIAMI SL120A AND SL86A featuring the unique Sanlorenzo Asymmetric design JOINT OFFICE WITH EDMISTON IN THE HAMPTONS fo
Slide 19: Ongoing execution of global geographic expansion
1 1A Ongoing execution of global geographic expansion INCEPTED LOCAL PRESENCE IN AMERICAS ENTRANCE IN NEW GREENFIELD COUNTRIES • New Sanlorenzo Japan Brand Representative, based in Tokyo, one of the wealthiest cities in the world in terms of number of UHNWI • New Brand Representatives • Leveraging n
Slide 20: Preliminary FY25 Results, Business Update, Q&A
PRELIMINARY FY25 RESULTS BUSINESS UPDATE Q&A
Slide 21: Appendix
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Slide 22: Business model translating into superior risk-return profile
2A Business model translating into superior risk-return profile BEST-IN-CLASS SUPERIOR BACKLOG UHNWI LEADERSHIP EBITDA RESILIENCY QUALITY LOYAL CLIENTS IN THE SWEET MARGIN THROUGH THE 88% 4.5 YEARS SPOT OF THE ~18.8% 1 CYCLE FINAL CLIENTS2 RECURRENCE3 MARKET Notes: 1) Based on FY 2025 preliminary re
Slide 23: Monobrand strategy for each market, with no overlaps
1 Monobrand strategy for each market, with no overlaps Sharing an exclusively absolute luxury positioning reinforced by scarcity philosophy and desirability upselling 13mt 24mt 75mt 13mt 40mt Motor-boats niche Motor-yachts monobrand Sailing-yachts monobrand (1) 10% 80% 10% (1) (1) 2027 [NEW] SL HERI
Slide 24: Notice to recipient
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