Sanlorenzo S.p.A. (SNLRF) Q4 2025 Earnings Call Transcript

SA Transcripts158.89K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Sanlorenzo S.p.A. (SNLRF) Q4 2025 Earnings Call March 9, 2026 1:00 PM EDT Company Participants Massimo Perotti - Executive Chairman & CEOAttilio Bruzzese Conference Call Participants Natasha Brilliant - UBS Investment Bank, Research DivisionOriana Cardani - Intesa Sanpaolo Equity Research Presentation Unknown Executive Good evening, ladies and gentlemen. Thank you for participating to our full year 2025 results. Here today, we have on the floor, Mr. Massimo Perotti, our Executive Chairman; Attilio Bruzzese, Chief Financial Officer; Cesare Perotti, Corporate Integration and Strategic Projects Manager; Pier Francesco Acquaviva, Chief Corporate Officer; and myself, Head of IR, Finance and M&A. We go through some key highlights. I leave the floor right away to Mr. Perotti. Thank you for your participation again. Massimo PerottiExecutive Chairman & CEO Good evening. Thanks for coming. I will go quickly through this page because it's the same page we saw together in the middle of January, which is summarizing the result of 2025, which we are proud of. You can see there is an increase of revenue, 3.2%. We have an important order intake growth from 2024, which is plus 16% equal to EUR 130 million. The EBITDA margin is solid, 18.8%. It is slightly lower than 19% of 2024 due to the consolidation for the full year of Swan -- Nautor Swan, and we have a nice EUR 34 million net cash flow generation. On the left side, we confirm sixth consecutive quarter of order intake growth. The new model introduced since September at the Cannes Monaco General Show has been very successful. And in the last 3 months, we have a new dealer, new brand representative in Brazil, Mexico, Australia and Japan, markets -- quite large market with history in yachting. On the right side, we confirm with Nautor Swan is -- we got profitable -- we