(Alliance News) - Sanlorenzo Spa on Thursday reported a profit of EUR66.9 million in the first nine months of the year, up 28 percent from EUR52.2 million in the first nine months of 2022.

As of September 30, net revenues from the sale of new yachts totaled EUR626.0 million, up 15 percent from EUR544.1 million in the first nine months of 2022, led by the good results recorded by all divisions of the group in the third quarter; geographically, robust growth in Sanlorenzo's traditional markets, especially in Europe, and strong development in the MEA region.

Ebitda in the period stood at EUR113.8 million, up 23 percent from EUR92.7 million in the first nine months of 2022.

Ebit was worth EUR91.3 million, up 23 percent from EUR74.1 million in the first nine months of 2022.

Organic net investments amounted to EUR26.0 million, of which more than 85% related to the expansion of industrial capacity and the development of new models and product ranges.

Net cash position was EUR145.6 million as of September 30, further improving from EUR91.9 million as of September 30, 2022 and EUR100.3 million as of December 31, 2022.

Order intake in the first nine months was EUR604.5 million, including EUR253.0 million in the third quarter, higher than EUR248.5 million in the third quarter 2022, an excellent result that brings the backlog as of September 30 to EUR1.67 billion compared to EUR1.65 billion as of September 30, 2022.

The company said it has confirmed 2023 guidance.

Sanlorenzo trades in the green by 0.7 percent at EUR38.05 per share.

By Claudia Cavaliere, Alliance News reporter

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