Sanlorenzo Spa (SNLRF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. Good day to everybody. Good afternoon to everybody. Thank you for being here with us. I think I will pass the floor to Attilio Bruzzese, our CFO, who will introduce the semester, the H125 numbers. Thank you, Attilio. Perfect. Thank you, Massimo. And welcome to everyone. As usual, we can start from the highlights where we can analyze. So the first half that shows San Lorenzo Group is continuing the path of expansion with a growth in line with our guidance 2025, thanks to the unique business model moving behind and expanding worldwide economy situation and the global uncertainty and monitoring constantly the evolution, of course. So we can analyze figures starting from net revenue in New York. grown 9.4% year-on-year at €454.1 million, again led by the strong performance of Superior Division and the contribution from Nautos One. Great result of Americas and Europe regions. EBITDA increased 8.5% year-on-year at €80.5 million and EBITDA margin is 17.7% with not relevant dilution from the consolidation of NATO's one. EBIT at €59.9 million increased 3.2% year-on-year, considering also the incidence of Nautus One consolidation and related investments. And the Group Net Profit grew up 7% year-on-year, with a total amount of €36.6 million, with a double-digit margin of 10.3% on net revenue in New York. Then organic investment at €16.2 million, especially related to new industrial capacity and new product development, with a reduced incidence on net revenue in New York at 3.6% compared to 4.9 percent to the previous year. And then the net financial position at 8.3 million euro net debt end of June 2025 with a cash generation of 19.8 million euro from last March after dividends paid for 34.7 million euro and Q2 buyback program of 7.4 million euro. and taking advan...