Buy Or Sell Opportunity • May 19
Now 21% undervalued Over the last 90 days, the stock has risen 3.2% to €36.00. The fair value is estimated to be €45.33, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10.0% over the last 3 years. Earnings per share has grown by 9.6%. Revenue is forecast to grow by 5.4% in 2 years. Earnings are forecast to grow by 6.4% in the next 2 years. Reported Earnings • May 13
First quarter 2026 earnings released: EPS: €0.63 (vs €0.61 in 1Q 2025) First quarter 2026 results: EPS: €0.63 (up from €0.61 in 1Q 2025). Revenue: €241.4m (up 4.8% from 1Q 2025). Net income: €22.3m (up 5.1% from 1Q 2025). Profit margin: 9.3% (up from 9.2% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Leisure industry in Italy. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. 속보 • May 11
Sanlorenzo Order Growth Reaches Seventh Quarter With Upbeat 2026 Revenue Outlook Sanlorenzo reported Q1 2026 net income growth of 5.1% year over year, with EBITDA up 4% on the same basis.
Order intake increased 25.4%, marking the seventh consecutive quarter of growth in new business.
The company issued guidance for 2026 net revenues from new yachts of €980m to €1.02b and EBITDA of €180m to €192m.
The combination of continued order growth and higher earnings points to a solid near-term revenue pipeline backed by both the superyacht and Nautor Swan divisions, along with contributions from the Americas region.
For investors, the key questions are how consistently Sanlorenzo can convert this enlarged order book into margins within the guided EBITDA range and how sensitive this demand is to any changes in high-end discretionary spending. Upcoming Dividend • May 11
Upcoming dividend of €1.50 per share Eligible shareholders must have bought the stock before 18 May 2026. Payment date: 20 May 2026. Payout ratio is a comfortable 34% but the company is paying out more than the cash it is generating. Trailing yield: 3.0%. Lower than top quartile of Italian dividend payers (4.6%). Higher than average of industry peers (2.3%). 공시 • Mar 26
Sanlorenzo S.p.A., Annual General Meeting, Apr 24, 2026 Sanlorenzo S.p.A., Annual General Meeting, Apr 24, 2026, at 10:30 W. Europe Standard Time. Location: viale san bartolomeo 362, la spezia Italy Recent Insider Transactions • Mar 25
Executive Chairman & CEO recently bought €860k worth of stock On the 19th of March, Massimo Perotti bought around 30k shares on-market at roughly €28.65 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Massimo's only on-market trade for the last 12 months. Declared Dividend • Mar 15
Dividend increased to €1.50 Dividend of €1.50 is 50% higher than last year. Ex-date: 18th May 2026 Payment date: 20th May 2026 Dividend yield will be 5.1%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (35% earnings payout ratio) and cash flows (72% cash payout ratio). The dividend has increased by an average of 28% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 7.6% over the next 2 years, which should provide support to the dividend and adequate earnings cover. 공시 • Mar 13
Sanlorenzo S.p.A. announces Annual dividend, payable on May 20, 2026 Sanlorenzo S.p.A. announced Annual dividend of EUR 1.5000 per share payable on May 20, 2026, ex-date on May 18, 2026 and record date on May 19, 2026. Reported Earnings • Mar 12
Full year 2025 earnings released: EPS: €3.04 (vs €2.95 in FY 2024) Full year 2025 results: EPS: €3.04 (up from €2.95 in FY 2024). Revenue: €1.03b (up 4.2% from FY 2024). Net income: €107.4m (up 4.2% from FY 2024). Profit margin: 11% (in line with FY 2024). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Leisure industry in Italy. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 11
Third quarter 2025 earnings released: EPS: €0.84 (vs €0.83 in 3Q 2024) Third quarter 2025 results: EPS: €0.84. Revenue: €246.8m (down 7.3% from 3Q 2024). Net income: €29.3m (flat on 3Q 2024). Profit margin: 12% (in line with 3Q 2024). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Leisure industry in Italy. Price Target Changed • Sep 11
Price target decreased by 7.4% to €46.90 Down from €50.65, the current price target is an average from 3 analysts. New target price is 36% above last closing price of €34.40. Stock is up 3.9% over the past year. The company is forecast to post earnings per share of €3.04 for next year compared to €2.95 last year. Reported Earnings • Sep 05
Second quarter 2025 earnings released: EPS: €0.72 (vs €0.68 in 2Q 2024) Second quarter 2025 results: EPS: €0.72 (up from €0.68 in 2Q 2024). Revenue: €256.8m (up 11% from 2Q 2024). Net income: €25.4m (up 6.2% from 2Q 2024). Profit margin: 9.9% (in line with 2Q 2024). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Leisure industry in Italy. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 16
First quarter 2025 earnings released: EPS: €0.60 (vs €0.56 in 1Q 2024) First quarter 2025 results: EPS: €0.60 (up from €0.56 in 1Q 2024). Revenue: €230.4m (up 13% from 1Q 2024). Net income: €21.2m (up 8.0% from 1Q 2024). Profit margin: 9.2% (in line with 1Q 2024). Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Leisure industry in Italy. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 12
Upcoming dividend of €1.00 per share Eligible shareholders must have bought the stock before 19 May 2025. Payment date: 21 May 2025. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of Italian dividend payers (5.4%). In line with average of industry peers (3.1%). Recent Insider Transactions • Apr 11
Executive Chairman & CEO recently bought €842k worth of stock On the 2nd of April, Massimo Perotti bought around 30k shares on-market at roughly €28.08 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Massimo's only on-market trade for the last 12 months. 공시 • Mar 21
Sanlorenzo S.p.A., Annual General Meeting, Apr 29, 2025 Sanlorenzo S.p.A., Annual General Meeting, Apr 29, 2025, at 10:30 W. Europe Standard Time. Declared Dividend • Mar 14
Dividend of €1.00 announced Dividend of €1.00 is the same as last year. Ex-date: 19th May 2025 Payment date: 21st May 2025 Dividend yield will be 3.4%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (34% earnings payout ratio) but not covered by cash flows (123% cash payout ratio). The dividend has increased by an average of 35% per year over the past 4 years and payments have been stable during that time. EPS is expected to grow by 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. 공시 • Mar 13
Sanlorenzo S.p.A. announces Annual dividend, payable on May 21, 2025 Sanlorenzo S.p.A. announced Annual dividend of EUR 1.0000 per share payable on May 21, 2025, ex-date on May 19, 2025 and record date on May 20, 2025. Reported Earnings • Mar 12
Full year 2024 earnings released: EPS: €2.93 (vs €2.68 in FY 2023) Full year 2024 results: EPS: €2.93 (up from €2.68 in FY 2023). Revenue: €982.8m (up 13% from FY 2023). Net income: €103.1m (up 11% from FY 2023). Profit margin: 11% (in line with FY 2023). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Leisure industry in Italy. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Feb 14
Now 21% undervalued Over the last 90 days, the stock has risen 9.3% to €34.80. The fair value is estimated to be €43.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 23%. For the next 3 years, revenue is forecast to grow by 6.6% per annum. Earnings are also forecast to grow by 7.3% per annum over the same time period. Buy Or Sell Opportunity • Nov 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.2% to €33.30. The fair value is estimated to be €42.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 23%. For the next 3 years, revenue is forecast to grow by 7.6% per annum. Earnings are also forecast to grow by 6.3% per annum over the same time period. Reported Earnings • Nov 10
Third quarter 2024 earnings released: EPS: €0.84 (vs €0.80 in 3Q 2023) Third quarter 2024 results: EPS: €0.84 (up from €0.80 in 3Q 2023). Revenue: €264.5m (up 8.3% from 3Q 2023). Net income: €29.4m (up 5.3% from 3Q 2023). Profit margin: 11% (in line with 3Q 2023). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Leisure industry in Italy. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Sep 27
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.4% to €37.30. The fair value is estimated to be €46.68, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 26%. For the next 3 years, revenue is forecast to grow by 6.3% per annum. Earnings are also forecast to grow by 6.5% per annum over the same time period. New Risk • Sep 16
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risk Dividend is not well covered by cash flows (dividend per share is over 5x cash flows per share). Reported Earnings • Sep 06
Second quarter 2024 earnings released: EPS: €0.69 (vs €0.63 in 2Q 2023) Second quarter 2024 results: EPS: €0.69 (up from €0.63 in 2Q 2023). Revenue: €231.5m (up 9.5% from 2Q 2023). Net income: €23.9m (up 9.5% from 2Q 2023). Profit margin: 10% (in line with 2Q 2023). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. 공시 • Aug 02
Sanlorenzo S.p.A. (BIT:SL) signed a binding agreement to acquire Nautor Swan S.R.L. from Sawa S.R.L. Sanlorenzo S.p.A. (BIT:SL) signed a binding agreement to acquire Nautor Swan S.R.L. from Sawa S.R.L. on August 1, 2024. Sanlorenzo commits to purchase from Sawa, which commits to sell, 100% of the shares of Nautor Swan Group, in two tranches: 60% of the shares at the First Closing, shortly after the signing of the Binding Agreement, for €48.5 million, 40% of the shares at the Second Closing, by 30 April 2028 (based on the FY2027 financial results), valued at the higher of the First Closing Equity Value and the Equity valuation resulting from 9x EV/EBITDA multiple. For each Closing, the parties have agreed to the payment of 2/3 in cash and 1/3 in shares through a Capital
Increase with exclusion of the pre-emptive rights, reserved to Sawa, unless technical difficulties arise preventing its prompt execution. The issue price of the Sanlorenzo shares is valued at the simple average of the closing prices of the stock market in the 30 calendar days preceding the relevant Closing. The Agreement is subject to condition precedents to be fulfilled by Sawa between the signing of the Agreement and the First Closing, in favor of Sanlorenzo. Post-acquisition, Massimo Perotti, as CEO, and Giovanni Pomati, as co-CEO, will head Nautor Swan Group. Leonardo Ferragamo will retain his role as Chairman of Nautor Swan. Musumeci, Altara e Associati acted as legal advisor, Deloitte Italy S.p.A acted as due diligence provider, Andersen Italia acted as accountant and Mediobanca Banca di Credito Finanziario S.p.A. (BIT:MB) acted as financial advisor to Sanlorenzo. Studio Legale Visconti & Associati acted as legal advisor and CC & Soci S.r.l. acted as financial advisor to Sawa. Buy Or Sell Opportunity • Jul 01
Now 26% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.2% to €38.50. The fair value is estimated to be €52.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 29%. For the next 3 years, revenue is forecast to grow by 5.7% per annum. Earnings are also forecast to grow by 7.9% per annum over the same time period. Buy Or Sell Opportunity • Jun 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.4% to €39.05. The fair value is estimated to be €48.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 29%. For the next 3 years, revenue is forecast to grow by 5.7% per annum. Earnings are also forecast to grow by 7.9% per annum over the same time period. Reported Earnings • May 15
First quarter 2024 earnings released: EPS: €0.57 (vs €0.50 in 1Q 2023) First quarter 2024 results: EPS: €0.57 (up from €0.50 in 1Q 2023). Revenue: €203.2m (up 7.4% from 1Q 2023). Net income: €19.7m (up 14% from 1Q 2023). Profit margin: 9.7% (in line with 1Q 2023). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has increased by 29% per year whereas the company’s share price has increased by 28% per year. Upcoming Dividend • May 13
Upcoming dividend of €1.00 per share Eligible shareholders must have bought the stock before 20 May 2024. Payment date: 22 May 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of Italian dividend payers (5.4%). Lower than average of industry peers (3.2%). Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: €2.68 (vs €2.15 in FY 2022) Full year 2023 results: EPS: €2.68 (up from €2.15 in FY 2022). Revenue: €865.7m (up 14% from FY 2022). Net income: €92.8m (up 25% from FY 2022). Profit margin: 11% (in line with FY 2022). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. 공시 • Mar 07
Sanlorenzo S.p.A. (BIT:SL) acquired unknown majority stake in Simpson Marine limited from Mike Simpson for $17 million. Sanlorenzo S.p.A. (BIT:SL) signed a non-binding Memorandum of Understanding to acquire unknown majority stake in Simpson Marine limited on April 11, 2023. Sanlorenzo S.p.A. (BIT:SL) signed a binding share purchase agreement to acquire 95% stake in Simpson Marine Limited from Mike Simpson for $17 million on December 7, 2023. The transaction is expected to close in the first quarter of 2024. Musumeci, Altara, Desana e Associati acted as legal advisors to Sanlorenzo S.p.A, and Howse Williams Bowers acted as a legal advisor to Mike Simpson.Sanlorenzo S.p.A. (BIT:SL) completed the acquisition of unknown majority stake in Simpson Marine limited from Mike Simpson on March 5, 2024. Recent Insider Transactions • Feb 16
Executive Director recently sold €2.2m worth of stock On the 9th of February, Ferruccio Rossi sold around 50k shares on-market at roughly €43.07 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €4.1m more than they bought in the last 12 months. Recent Insider Transactions • Jan 05
Executive Director recently sold €288k worth of stock On the 2nd of January, Ferruccio Rossi sold around 7k shares on-market at roughly €42.67 per share. This transaction amounted to 1.8% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €513k. Insiders have been net sellers, collectively disposing of €2.1m more than they bought in the last 12 months. Recent Insider Transactions • Dec 29
Executive Director recently sold €513k worth of stock On the 22nd of December, Ferruccio Rossi sold around 12k shares on-market at roughly €43.15 per share. This transaction amounted to 3.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.6m more than they bought in the last 12 months. Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: €0.80 (vs €0.57 in 3Q 2022) Third quarter 2023 results: EPS: €0.80 (up from €0.57 in 3Q 2022). Revenue: €242.8m (up 20% from 3Q 2022). Net income: €27.9m (up 41% from 3Q 2022). Profit margin: 12% (up from 9.7% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has increased by 34% per year whereas the company’s share price has increased by 35% per year. Reported Earnings • Aug 08
Second quarter 2023 earnings released: EPS: €0.63 (vs €0.53 in 2Q 2022) Second quarter 2023 results: EPS: €0.63 (up from €0.53 in 2Q 2022). Revenue: €210.4m (up 13% from 2Q 2022). Net income: €21.8m (up 18% from 2Q 2022). Profit margin: 10% (in line with 2Q 2022). Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has increased by 36% per year whereas the company’s share price has increased by 38% per year. Reported Earnings • May 12
First quarter 2023 earnings released First quarter 2023 results: Revenue: €189.2m (up 13% from 1Q 2022). Net income: €17.2m (up 23% from 1Q 2022). Profit margin: 9.1% (up from 8.3% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Leisure industry in Europe. Upcoming Dividend • Apr 25
Upcoming dividend of €0.66 per share at 1.6% yield Eligible shareholders must have bought the stock before 02 May 2023. Payment date: 04 May 2023. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Italian dividend payers (5.1%). Lower than average of industry peers (2.5%). Recent Insider Transactions • Mar 22
Executive Director recently sold €661k worth of stock On the 17th of March, Ferruccio Rossi sold around 16k shares on-market at roughly €42.49 per share. This transaction amounted to 3.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €6.0m more than they bought in the last 12 months. Reported Earnings • Mar 16
Full year 2022 earnings released: EPS: €2.14 (vs €1.48 in FY 2021) Full year 2022 results: EPS: €2.14 (up from €1.48 in FY 2021). Revenue: €758.5m (up 12% from FY 2021). Net income: €74.2m (up 45% from FY 2021). Profit margin: 9.8% (up from 7.6% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Leisure industry in Europe. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 59% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Feb 20
Price target increased by 12% to €46.33 Up from €41.53, the current price target is an average from 3 analysts. New target price is 13% above last closing price of €40.95. Stock is up 7.2% over the past year. The company is forecast to post earnings per share of €2.06 for next year compared to €1.48 last year. Recent Insider Transactions • Feb 19
Executive Director recently sold €194k worth of stock On the 10th of February, Ferruccio Rossi sold around 5k shares on-market at roughly €40.62 per share. This transaction amounted to 1.2% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €403k. Insiders have been net sellers, collectively disposing of €5.2m more than they bought in the last 12 months. Recent Insider Transactions • Jan 04
Executive Director recently sold €260k worth of stock On the 29th of December, Ferruccio Rossi sold around 7k shares on-market at roughly €37.20 per share. This transaction amounted to 1.7% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €403k. Insiders have been net sellers, collectively disposing of €5.4m more than they bought in the last 12 months. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 2 highly experienced directors. Executive Chairman & CEO Massimo Perotti was the last director to join the board, commencing their role in 2007. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Nov 10
Third quarter 2022 earnings released: EPS: €0.57 (vs €0.45 in 3Q 2021) Third quarter 2022 results: EPS: €0.57 (up from €0.45 in 3Q 2021). Revenue: €201.6m (up 16% from 3Q 2021). Net income: €19.8m (up 27% from 3Q 2021). Profit margin: 9.8% (in line with 3Q 2021). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Leisure industry in Europe. Reported Earnings • Sep 05
Second quarter 2022 earnings released: EPS: €0.54 (vs €0.38 in 2Q 2021) Second quarter 2022 results: EPS: €0.54 (up from €0.38 in 2Q 2021). Revenue: €185.3m (flat on 2Q 2021). Net income: €18.5m (up 42% from 2Q 2021). Profit margin: 10.0% (up from 7.1% in 2Q 2021). Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Leisure industry in Europe. Recent Insider Transactions • Aug 03
MD & Executive Director recently sold €322k worth of stock On the 28th of July, Marco Viti sold around 10k shares on-market at roughly €32.20 per share. In the last 3 months, they made an even bigger sale worth €1.0m. Insiders have been net sellers, collectively disposing of €8.0m more than they bought in the last 12 months. 
