Road to 2030: This decade's drivers in Sanlorenzo's vision
by Sanlorenzo 7 Sep 2022 02:11 PDT
Sanlorenzo SD90/s © Sanlorenzo Yachts
An unprecedented conference that goes beyond the unveiling of new models, a résumé of the strategy behind the brand's unstoppable growth in recent years, but above all a look at the new directions on which the Group will focus its action in this decade.
On the eve of the opening of the Boat Show which launches the new nautical season, as is customary Sanlorenzo held its press conference on the beach of the Hotel Majestic Barrière.
These are the only two recurring elements; for everything else, the 2022 conference will be remembered as distinct from its predecessors, and this is apparent from the very title - Road to 2030 - which immediately refers to a journey through this decade. A new vision, which the brand wished to share with the press.
Far more, then, than the unveiling of the 2022 innovations of the Sanlorenzo and Bluegame brands - the SP110, the SD90s, the BG54 - which, for a few hours during the evening, left the stand in the Vieux Port to introduce themselves, accompanied by engaging music, to the guests gathered on the quay of the Majestic.
Vessels whose success has once again been heralded, because it is the result of a strategy that during the last ten years has consolidated the positioning of what is now increasingly known as the Maison Sanlorenzo: utmost attention to design, not only of the lines of the yachts, whose mastered evolution has made them iconic, but also of the interiors. Sanlorenzo, first in the sector, has brought on board prestigious collaborations with the most famous names in contemporary design, imprinting an epic transformation in yacht interiors.
The step from design to art was almost 'natural' for Sanlorenzo, a route once again explored by the pioneers in the yachting industry.
Founding pillar of the strategy defined almost ten years ago is innovation within tradition, with the constant search for balance between the drive to introduce new ideas and consistency with the brand's history. A balance that has always been successfully maintained. Countless are the revolutionary innovations introduced by Sanlorenzo in the sector and now replicated by most shipbuilders, such as the open terraces on the sides of the hulls or at the stern, first seen on the Superyacht 40 Alloy launched back in 2007. Or more recently, the daring decision to forgo a lateral walkway from stern to bow, in favour of greater internal volume and without any visual interruption between interior and exterior. This was the birth of the Asymmetric line, first proposed on the SL106A, whose immediate success led to its being extended to all the new models in the SL and SD ranges.
In the light of this insight, one can understand more clearly the reasons behind Sanlorenzo's uninterrupted growth performance over time, even in the years of the pandemic and socio-economic instability, confirming the resilience of the Group's Business Model.
An impressive track-record, indeed in rapid acceleration, was presented at the opening of the conference, during which the figures for the 2022 half-year, approved by the Board of Directors a few days ago, were shared. Excellent data, in particular regarding order intake, which exceeded the record value of 1.4 billion euros, enabling the company to improve its forecast for the 2022 financial year: revenues between 720 and 740 million, + 25% compared to 2021, EBITDA between 126 and 130 million, with an increase of +34%, net profit between 68 and 70 million, + 35%.
Strengthened by the leadership it has acquired thanks to this clear vision, Sanlorenzo has recently enriched its strategy with additional guidelines: sustainability & technology, services and supply chain are the essential themes on which it will focus its action in this decade, confirming its recognised ability to be ahead of the times.
The introduction of innovations and technologies to reduce the environmental impact of yachts is therefore at the heart of the activities of the Group's Research and Development department, whose high degree of expertise and experience has enabled it to sign strategic agreements with the world's largest players in power generation and energy management. Joint projects focus on the marine use of hydrogen fuel cells, the real answer to the demand for sustainability in the yachting sector.
Starting with the exclusive agreement for yachts between 24 and 80 metres in length signed in 2021 with Siemens Energy for the integration of fuel cells powered by hydrogen obtained from methanol to generate electricity on board, a technology that, first in the market, will see the light of day on a 50Steel superyacht scheduled for delivery in 2024.
This was recently joined in August 2022 by another very important exclusive agreement with Rolls-Royce's business unit Power Systems with its product and solution brand mtu for the installation of hydrogen propulsion systems obtained from methanol. These solutions will be combined with fuel cells supplied by Siemens Energy and will be installed initially on a prototype Sanlorenzo superyacht, scheduled for delivery in 2026.
The use of green methanol, produced with electricity from renewable sources and CO2 captured from the atmosphere, enables the generation of "carbon-neutral" power: the amount of CO2 released into the air in the combustion process is equivalent to the amount removed from the environment for the production of methanol.
One can define as memorable the challenge won by Bluegame, which has been selected by American Magic, challenger in the 2024 edition of the America's Cup, as a partner for the design and construction of the first "chase boat" with exclusively hydrogen propulsion and use of foils, according to the strict requirements of the event's protocol. An extremely complex project, today the highest possible expression of sustainable technology on board a vessel.
On the strength of this extraordinary achievement and as proof of its design capability in the use of hydrogen in propulsion, Bluegame has also reached an agreement with Volvo Penta to install a pilot IPS hybrid propulsion system, which will be combined with hydrogen fuel cells developed from the America's Cup project. It will be the BGM65HH (hydrogen-hybrid) model, to be launched in 2025, that will accommodate this cutting-edge technology.
Another driver of the strategy for the coming years is the implementation of the proposal of Services dedicated to clients, in coherence with the philosophy of pursuing maximum excellence and with the 'made to measure' positioning of the Brand. A sartorial approach in which the excellence of manufacturing, high quality, innovation and design is accompanied by the exclusivity of the relationship with the client.
This package of services, offered exclusively to Sanlorenzo clients through a dedicated company that will be established by the end of the year, includes the world's first monobrand charter programme (Sanlorenzo Charter Fleet), training programmes for crew members at the Sanlorenzo Academy, tailor-made leasing and financing, and maintenance, restyling and refitting services (Sanlorenzo Timeless).
Of particular relevance is the charter activity, which has experienced strong expansion, especially during periods of falling demand for new vessels, and has considerable potential to be developed. This proposal is of particular interest to Sanlorenzo clients, who can take the opportunity to include their yacht in a programme that they can rely on as it is managed by the shipyard. Given the specialist skills required for this activity, Sanlorenzo, as a guarantee of its standards of quality and excellence, has selected Equinoxe S.r.l., a renowned company with a high reputation in the sector, whose acquisition is expected in the next four months.
Last but not least, another overriding driver in the strategy of these years and those to come: the strengthening of the Supply Chain. Craftsmanship is at the heart of Sanlorenzo's business model, which intends to forge increasingly close partnerships with its suppliers and strategic contractors, through initiatives in supporting them, such as the extension of its sustainability path, the sharing of best practices, the possibility of drawing specialised personnel from the Sanlorenzo Academy, and structured financial support.
Following this overview into the heart of Sanlorenzo's vision for this decade, the conference drew to a close with a focus on the 2022 novelties: the SP110 Smart Performance, the first, revolutionary open coupé in Sanlorenzo's history, the SD90s, which completes the range of new displacement yachts, a project that is at once contemporary, innovative and sustainable, and the BG54, a success story announced in the wake of the BG72 launched in Cannes last year. These new models confirm the brand's acknowledged ability to anticipate the times and each deserves a dedicated press release.
Closing a 360-degree journey into Sanlorenzo's vision, a final glimpse of 2023 with the anticipation of two new models that once again promise to be highly differentiating: the SX100 to complete the now iconic SX range and the BGM75, the first luxurious and sustainable multihull from Bluegame.