San lorenzo has appointed Ferruccio Rossi as the CEO of its newly formed San lorenzo Monaco Group. This follows his recent resignation from his previous roles as the General Manager and President of Superyachts at San lorenzo. The San lorenzo Monaco Group will manage the European foreign commercial entities of the San lorenzo Group. Additionally, Rossi will acquire a minority stake in the group, pending approval at the San lorenzo Assembly in June 2024.
Rossi expressed his enthusiasm about his new role, highlighting the innovative approach to the brand’s commercial development in key nautical territories. He praised the team of professionals at San lorenzo Monaco Group and expressed his gratitude to Mr. Perotti for the opportunity. Rossi emphasized the strategic importance of direct brand presence in the high-end segment.
On the financial side, San lorenzo has confirmed its first-quarter results as of March 31, 2024. The company’s performance aligns with its projections, demonstrating a strong commitment to sustainable and profitable growth. The backlog stands at approximately €1.2 billion, with over 70% coverage for 2024 after just one quarter. Furthermore, €560 million of net backlog extends into future years, with 88% already secured by end customers. This balanced sell-in-sell-out dynamic underscores San lorenzo’s robust business model in the global yachting industry.
Following the acquisition of the Simpson Marine Group on March 5, the company has moved quickly to integrate the new entity. Efforts are focused on optimizing commercial operations and enhancing the product portfolio. San lorenzo is also working on improving global service offerings, such as chartering, in coordination with its international hubs.
Innovation continues to be a top priority for San lorenzo. The company is heavily investing in product development, particularly in green technologies. As part of its “Road to 2030” initiative, San lorenzo unveiled the BGH-HSV in March, an America’s Cup chase boat featuring dual foil-fuel cell technology. This vessel is currently undergoing sea trials and is set for delivery to the New York Yacht Club’s American Magic syndicate. Additionally, San lorenzo’s 50-metre fuel cell Superyacht, equipped with Siemens reformer-fuel cell methanol technology, is scheduled to launch on May 18 at the La Spezia shipyard. This innovative yacht will be the first of its kind, generating 100 kW for hotel operations and boasting reduced autonomy in its hybrid version, with only water vapor as its by-product.
Chairman and CEO Massimo Perotti emphasized the company’s ongoing investments in direct distribution and production infrastructures. He highlighted San lorenzo’s strong equity and liquidity positions, which will allow the company to swiftly capitalize on future growth opportunities, including potential acquisitions. Perotti reaffirmed San lorenzo’s commitment to maintaining its leadership position through continual innovation and strategic investments.
