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Gouvia and Greece 2.0

BARBARA BORGONOVO — Sun, 31 May 2026 10:59:36 +0000

D-Marin is raising the bar for standard services in the nautical sector with the relaunch of Gouvia Marina in Corfu, backed by an investment of €8.5 million.

D-Marin has carried out a major redevelopment of Gouvia Marina in Corfu, investing €8.5 million to transform it into a modern, exclusive destination for boating and leisure. This project reinforces the marina’s role as a strategic gateway to the area whilst delivering tangible benefits for the environment, the local community and the visitor experience.

Strategically situated between the Adriatic and the Mediterranean, Gouvia Marina is Corfu’s largest marina and a key driver of the island’s economy. The project embodies D-Marin’s long-term vision to enhance the yachting experience whilst establishing the marina as a vibrant, open space fully integrated with the local area and community.

The entire marina infrastructure has been upgraded, significantly enhancing accessibility, comfort and the day-to-day experience for guests and crews.
– 104 new berths for vessels up to 50 metres in length
– New car parking areas
– An additional 6,000 square metres of dry storage space
– Pedestrianised seafront
– Refurbished internal road network
– Refurbished toilets and showers

In addition to the marina area, the landscape and outdoor spaces have been incorporated into the project, with over 2,000 trees and plants planted to create a contemporary, open and welcoming environment. A new playground and an amphitheatre reinforce the marina’s social and cultural vocation; the amphitheatre will host concerts, cultural events and open-air cinema evenings, further establishing the marina as a destination that goes beyond the purely nautical dimension.

Ioannis Koutsodontis, Regional Director of D-Marin Greece, said: “The modernisation of Gouvia Marina goes far beyond a simple infrastructure project. It is a comprehensive transformation that brings together architectural excellence, technological innovation and sustainability, creating a premium, inclusive and dynamic destination deeply connected to Corfu’s local community”.

DIGITALISATION has also been a key focus. All berths are now equipped with terminals that enable remote management of electricity and water consumption via the D-Marin mobile app – a solution that enhances the user experience whilst optimising operational efficiency and energy management. To this end, Wi-Fi coverage has been upgraded across the site to ensure continuous, reliable connectivity.

The improvements introduced have also delivered tangible benefits in customer satisfaction, as evidenced by an 11-point increase in the Net Promoter Score (NPS), reflecting recognition of the superior quality of the facilities, services and overall experience.

In terms of sustainability, safety and ESG principles, the marina now features high-pressure water filtration systems, advanced fire detection and emergency alarm systems, as well as energy-efficient LED lighting.

As part of a wider redevelopment plan, Gouvia Marina has also completed its first on-site solar power installation, the first such project carried out by D-Marin in Greece. The 100 kWp system is expected to generate around 167 MWh of clean energy per year, covering approximately 20% of the facility’s operational energy requirements.

“The solar installation at Gouvia Marina confirms D-Marin’s ongoing progress towards decarbonisation and makes it the group’s first Greek marina to generate renewable energy on-site. The project adds to the 5 MW of photovoltaic capacity already installed at our marinas in Turkey, Croatia and Italy, supporting our SBTi commitment and our goal of reducing emissions by 42% by 2030”, said Korina Kostakaki, Head of Sustainability and Health & Safety at D-Marin Greece.

Gouvia was able to complete this ambitious project through the “Greece 2.0” National Recovery and Resilience Plan, funded by the European Union’s NextGenerationEU. According to D-Marin, the initiative marks a significant step forward for Greek nautical tourism, helping to accelerate sustainable investment, infrastructure modernisation and the sector’s long-term competitiveness.

(Gouvia and Greece 2.0 – Barchemagazine.com – May 2026)

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Innovation and transition – The first high-speed dual-fuel engine by Nanni

BARBARA BORGONOVO — Thu, 21 May 2026 10:25:16 +0000

Strength in numbers. That is why Nanni and ScandiNAOS AB have collaborated to develop a methanol-powered dual-fuel version of Nanni’s engines, based on John Deere technology.

This collaboration has proven successful, with tests indicating that the engine supports the sector’s energy transition and has enabled Nanni to develop its first high-speed generator set with methanol dual-fuel technology.

A collaboration born of a need for sustainable innovation

In response to the International Maritime Organisation (IMO) call for a significant reduction in air emissions, Nanni embarked on developing advanced dual-fuel technology. Through the Life Mystic project, Nanni has developed an innovative dual-fuel technology enabling engines to run on both diesel and methanol. A solution designed to operate with a fuel blend consisting of approximately 30% diesel and 70% methanol on an energy basis, in order to reduce diesel consumption and harmful emissions. This “dual-fuel” approach represents a major step forward in the maritime sector’s energy transition, offering a more sustainable alternative without compromising engine performance and reliability.

ScandiNAOS’s expertise in support of Nanni solutions

ScandiNAOS AB was commissioned by Nanni to develop a dual-fuel version of the 6-litre John Deere-based engine for use as a generator set. At the heart of this development is a dual-fuel injection kit that enables these Nanni engines to switch between methanol and diesel. When the methanol tank is empty, the engine automatically reverts to diesel without interrupting operation.

The conversion kit developed by ScandiNAOS AB includes a methanol control system and hardware modifications that enable methanol injection into the fuel system.

Using methanol marks a major step towards cleaner boating, reducing CO₂ emissions, fine particulate matter, and certain air pollutants traditionally associated with conventional marine fuels.

Successful test for the Nanni dual-fuel engine

The engine, converted to a methanol dual-fuel configuration, underwent testing. The test was conducted in accordance with IACS (International Association of Classification Societies) standards regarding progressive loading of engines and generator sets, in the presence of a representative from RINA (Registro Italiano Navale).

The tests delivered positive results

The transition between single-fuel and dual-fuel modes is smooth and seamless during operation. The proportion of energy derived from methanol ranges from 50% to 75%, which significantly reduces emissions while maintaining full power output in both diesel and dual-fuel modes. After conversion to methanol, the engine shows a dramatic reduction in key pollutants, with CO (carbon monoxide) and HC (hydrocarbon) emissions reduced by 95-99% and NOx (nitrogen oxides) emissions reduced by 65% across most load points. Particulate matter is also consistently lower, confirming significantly cleaner combustion.

These conclusive results confirm the strong potential of methanol dual-fuel technology. As the first Nanni high-speed dual-fuel engine, this innovation paves the way for a new generation of marine engines.

Beyond this technical advancement, the collaboration between Nanni and ScandiNAOS AB reflects a shared vision in which innovation goes hand in hand with transition.

(Innovation and transition – The first high-speed dual-fuel engine by Nanni – Barchemagazine.com – May 2026)

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Maiora 50th Anniversary – The Next Generation at Maiora

BARBARA BORGONOVO — Tue, 12 May 2026 06:50:54 +0000

Fifty years of history for a brand that has exported nautical excellence from Viareggio, focusing on craftsmanship, innovative capacity and elegance. Now owned by the Next Yacht Group, Maiora seeks to deliver a unique, customised onboard experience in all its projects

by Olimpia De Casa

Half a century of experience, a time of determination and courage involving challenges, intuitive decisions, strategic partnerships and – finally – very valuable know-how of technical skills, craftsmanship and construction techniques. They are the things that Maiora has built its reputation on globally. The brand, one of the best-known and most prestigious in the shipbuilding sector in Viareggio, has carved out a special place for itself thanks to the quality and versatility of its boats, right from the very first launches at its facility in Massarosa, in the province of Lucca.

At the Viareggio shipyards, master craftsmanship blends with timeless heritage, transforming each yacht into a sanctuary suspended between sea and sky.

It was in the mid-1980s that the Fipa Group took over the brand, which had launched in the previous decade, with the intention of becoming a leading player on the international yachting scene. They were helped by a favourable economic situation and the far-sightedness shown in investing very early in glass fibre technology, which was then beginning, for producing hulls and superstructures. The yard bet heavily on composites and sought to exploit their qualities of resistance and workability, and in just a few years became one of the most significant boatyards in Tuscany.

Next Yacht Group is an essential part of a broader strategic investment project in the luxury hospitality sector by GB Invest Holding AG, a world leader in Information Technology, and in the potential applications of artificial intelligence, which is also very active in the real estate sector.

As the new millennium arrived, the yard expanded so quickly that in 2001 the group was joined by AB Yachts, a specialist in designing and producing open, high-performance hydrojet craft. The rise of Maiora continued unabated, and they made another acquisition in 2005, buying 100 per cent of the shares of CBI Navi, a historic yard involved in fitting out large metal boats. At the same time, the group made significant strategic investments as the leader of the Polo Nautico consortium, which held a long concession from the state for the port of Viareggio.

At the same time, on the back of its success in the market and to the ensuing increase in demand, a new production site in the Massa industrial area was launched which proved to be ideal in terms of logistics since it was close to a junction of the A12 Genoa-Livorno motorway and was linked by Via Dorsale (which is traditionally used by oversize loads) to the nearby Marina di Carrara. A forerunner in building fibreglass boats, Maiora ensured its success by giving each model a very distinctive style, high-quality standards, and an ability to understand and deliver with careful customisation, which has produced some extremely charismatic and exclusive boats.

Maiora, founded in the 1970s and part of the Next Yacht Group since 2021, embodies a way of experiencing the sea with style, freedom and vision. Each yacht is designed to go beyond simple navigation, becoming an exclusive space where functionality, design and comfort blend in perfect harmony.

By carefully selecting the materials used and deploying highly skilled craftsmen, they have made every unit launched over the years a masterpiece of excellence, aimed at making the pleasure of taking to the water and spending time on board a unique and precious experience. Given the impossibility of listing all of the models that the firm has produced, or indeed the output of internationally renowned Italian yacht manufacturers in general, we will mention just a few of the boats that have been the most ground-breaking in terms of looks, performance, versatility and comfort when underway.

One that has to be included is the Maiora 35 Jet, the firm’s first with hydrojet propulsion (this was back in 2009). Fitted with three MTU 16V 2000 M93s each developing 2,400 horsepower, combined with a further three 550 MJP hydrojets, meaning the 35-metre boat, with a carbon fibre and Kevlar hull, had a top speed of 46 knots. The following year saw the debut of the Maiora 27S, which featured highly advanced fittings and navigation aids and was designed for long cruises, with a more well-being-focused, exclusive feel in mind. The high level of finish and customisation stand out, as do the exterior lines, the amount of spaces for socialising – both inside and out – and the low fuel consumption. 2020 saw the delivery of three new large models that are full of character: the Maiora 35 Exuma, the Convertible version of the Maiora 30 and the open Maiora 30 Walkaround.

Like the entire M line, the M30 has been designed to convey a sense of fluid dynamism, thanks to a skilful balance between sleek shapes and generous volumes.

At the heart of every Maiora project lies the very essence of sailing, blended with the elegance of Italian culture, giving rise to a new Renaissance in the world of boating.

On the eve of the leading European boat shows in September 2021, the brand – known as an interpreter of liveability, sociability, freedom and elegance – became the property (together with AB Yachts) of the Next Yacht Group, which was founded after the acquisition of the historic Fipa boatyard. Under the new ownership, the ability to create timeless boats is evident in the emphasis on delivering a luxury lifestyle. The declared aim, which clearly comes through in the new projects, the very contemporary strategic communication campaign, and the updated spaces of the group headquarters, is to continue to excel and, above all, to thrill.

Maiora 42 Exuma

Next Yacht Group owns the historic Maiora and AB Yachts brands. The Maiora range, with flybridges from 30 to 50 metres,
is characterised by bright interiors, spacious areas and generous volumes, harmonious connectivity between rooms and solutions that make every experience at sea unique.

Under the new ownership, the ability to create timeless boats is evident in the emphasis on delivering a luxury lifestyle. The declared aim, which clearly comes through in the new projects, the very contemporary strategic communication campaign, and the updated spaces of the group headquarters, is to continue to excel and, above all, to thrill. It is a “boutique” interpretation of the high-end Italian yachting sector, which, without forgetting the value of history and memory, invites you to look to the future, and even to anticipate it, with healthy (self) determination.

The Maiora 42 Exuma metres creates a new paradigm based on the ‘Renaissance’ of living at sea. The Maiora project combines Giorgio Maria Cassetta’s architectural vision for the exterior lines and Elie Saab’s refined universe for the interiors.

It is a “boutique” interpretation of the high-end Italian yachting sector, which, without forgetting the value of history and memory, invites you to look to the future, and even to anticipate it, with healthy (self) determination. Next Yacht Group’s name suggests that it is solid, well-defined and structured, and indeed it is an essential part of a wider investment project in the luxury hospitality sector by GB Invest Holding AG. As an international leader in IT, it aims to combine technological research and product (and service) customisation to deliver a vision of excellence in an area – with Viareggio and Forte dei Marmi – that is a symbol of yacht production and high-class tourism. It is a project that ranges from hotels and award-winning restaurants to beach clubs and nightlife, from luxury real estate to customised hospitality.

The Maiora M38 is 37 metres long with a beam of 8.20 metres. The model has three decks and five cabins that can accommodate up to 12 guests, with the master suite located on the main deck and four guest suites on the lower deck. The exterior design is the result of a collaboration between the shipyard and Quartostile, while the Acube Design architecture studio designed the interiors.

The Maiora M38 is the result of a collaboration between Maiora
and the Quartostile studio. The interior design was handled by the Acube Design architecture studio, which has been active
in the nautical industry for over 20 years.

With the mission of highlighting the identity and individual nature of the brands it has acquired, the new ownership structure immediately adopted a new brand identity aimed at bringing, in the case of Maiora, the concept of liveability and onboard comfort to the highest practical level. The range comprises flybridge boats from 30 to 50 metres that embody the quintessence of luxury on the water, with models featuring luminous, spacious interiors and generous volumes, harmonious connections, and cutting-edge solutions to optimise safety and wellbeing. Linked to these features are high performance levels, thanks to the vital range of propulsion options available.

The perfect balance between form and function, technology and art, performance and soul aspires to be a call to experience a personal rebirth, drawing inspiration from the values of the Italian Renaissance – as suggested by the balance, proportions and beauty of recent projects. It is the case of the Maiora M38, the founder of the M line that marks a new era for the yard, managing to preserve the identity that has characterised half a century of success, while also offering an interpretation of elegance that goes beyond tradition to embrace a new vision. The result is a 37-metre yacht that stands out with bold, refined lines that convey a very contemporary dynamism. Laid out across three decks, it is the product of the partnership with the Quartostile design studio, which is known for its prestigious experience in the yachting and automotive sectors, with work done with high-level names such as Giugiaro and Maserati:

“Our aim wasn’t just to design the lines of the yacht, but to spell out a new chapter, establishing a style that can be applied on boats of different sizes, as a point of reference for the future brand”, the designers explain. There are five suites, with the master rooms on the main deck and the guest area below, with interiors by Acube Design, an architectural practice which has been working in the sector for over twenty years. They add “The M38 breaks down every barrier, maximising the relationship with nature. The teak flooring thus extends throughout the interiors, reinforcing the idea of a limitless space, while the tooled leather elements transform every room into a sophisticated and contemporary space”. The first unit, currently under construction at the Viareggio yard, will be on the water in the summer of 2026 alongside the new M30, with the design project presented at the Cannes Yachting Festival 2025.

Giacomo Benelli

In recent years, I have witnessed Next Yacht Group grow and strengthen in an extraordinary way, decisively expanding its international reach and renewing the Maiora and AB Yachts brands with vision and pragmatism. Today, the Group can count on significant production capacity, unique craftsmanship – a true expression of the Boutique Shipyard we want to continue to be – and construction and fitting-out sites that stand out in our industry. All this is complemented by a passionate and highly skilled team and financial strength that allows us to constantly innovate and strive for excellence. We don’t want to work just on numbers: our goal is to build increasingly beautiful boats, offer unparalleled customer service, precisely because of the type of product and value we deal with and build – thanks in part to unique tools, such as the ability to reach remote locations by private jet within hours of receiving a call – and take care of every detail with the utmost attention. The primary value we continue to invest in is the human aspect, which is directly reflected in the quality of the product and, above all, in the centrality of the customer. The results confirm the validity of this approach. I am particularly proud of the record figures achieved in 2025: Next Yacht Group recorded an exceptional performance, with 10 units sold and an order book reaching €100 million. The business plan for the next three years will push us to do even better in 2026, with numerous innovations in terms of new models, strategic partnerships and additional production business units. At this point, Ad Maiora… and also to AB. Giacomo Benelli – Chief Sales Officer at Maiora for 20 years

Quartostile and Acube Design are also partners with Maiora for the external lines and interiors, respectively, on the new 36 Exuma, which debuted at the last Monaco Yacht Show. The yacht, which is 36.90 metres long with a 7.90-metre beam, spans four decks and can accommodate 10 people in five cabins (master suite on the main deck and guests on the one below), and there is space for up to 5 crew members in three rooms. The design, with a notably fluid and organic profile, has its roots in a twin objective: both to align the aesthetics to the yard’s new approach with linearity, dynamic tension and a visual presence that delivers an imposing character; and also to increase visibility and onboard comfort with innovative solutions, such as the full-beam bow and the stern seen as a genuine point of contact with the water. Large windows and visual continuity between inside and out increase the feeling of connection with the surroundings, while new details, such as the incorporated chaise longues in the stern and the suspended net in the bow, introduce new forms of relaxation with natural light.

Maiora 36 Exuma – photo by Leonardo Andreoni.

The Maiora 36 Exuma features a three-waterjet propulsion system, allowing it to cruise at up to 33 knots with maximum comfort and no vibration. Extraordinary agility is combined with a reduced draught of just 1.45 metres, allowing you to explore the beautiful coastlines and crystal-clear waters of Cat Island, the Abacos, Paradise Island and, of course, the Exumas.

We will have to wait for the summer of 2027 to see the completion of the first 42 Exuma, with exteriors by Giorgio Maria Cassetta and interiors by the Lebanese stylist Elie Saab with creative direction from Carlo Colombo. The project – shown in July at the reconditioned Deck Lounge at Via Coppino, an address that has come to symbolise the Viareggio yacht industry, aimed to redefine fixed starting points and offer a new design paradigm. The most obvious new element lies in the complete rewriting of the spaces and, in particular, in the unexpected and brave decision to put all of the cabins (so the owner and four VIP staterooms) on the main deck, leaving the crew quarters (four rooms for nine people) on the lower deck.

Maiora has set out to revolutionise the onboard experience and focus the project on the experience of being in close contact with the water. “Creating a balance between levity, interior volumes and generous heights, keeping a clean and refined feel, has been a challenge and together a dream that becomes a reality”, explained Giorgio Maria Cassetta. For the interior design, the yard has explored the refined universe of the celebrated couturier Elie Saab, who after success in interior design, furnishing, hospitality and high-end real estate has embraced a new frontier of contemporary luxury, bringing to the 42 Exuma a vision of craftsmanship and aesthetic refinement, which has been expressed in immersive and elegant spaces combining design, precision and comfort.

Maiora’s philosophy is a proper way of life that invites us
to rediscover the essence of being, to slow down and reconnect
with our hearts, emotions and the art of living.

Part of the strategic project to redefine the onboard experience includes the launch of the Next AI Integrated System, a New Yacht Group proprietary project available across all its ranges starting in 2026, and the first integrated, local-first AI for luxury boats. Making its debut at the Fort Lauderdale International Boat Show and developed in partnership with AI Technologies and the YES Group, it can be easily managed through the new proprietary apps – My AB and MY Maiora. The latest development in AI nautical applications launched by the Next Yacht Group is a “digital concierge” that knows each yacht perfectly and supports the owner and crew in running it. It ensures safety, privacy and reliability, thanks to operational continuity that doesn’t need an internet connection or the cloud.

Maiora 36 Exuma – photo by Gionata Xerra.

Maiora yachts offer spacious, versatile and bright interiors, where every detail reflects the owner’s personality. With a strong aesthetic and architectural identity, Maiora is the brand of panoramic flybridges defined by unprecedented volumes and perfect continuity between exterior and interior spaces.

“For the buyer, luxury means simplicity and control. We offer an assistant that always works, even in the middle of the ocean, in a secure, continuous and dependable way: artificial intelligence that belongs to the yacht and its family, not to the cloud”, stressed Giorgio Mattei, Vice President of the Next Yacht Group. “Our approach is local-first: data, models and decisions stay onboard. This AI delivers verifiable answers, safe commands and profound integration with the boat’s systems. In the evolving roadmap, we foresee continuing to integrate new functionality and services, such as always-on vocal activation, with a dedicated wake word and predictive maintenance”. This is a cutting-edge solution that is a tangible example of the Group’s innovation and digital transformation. In 2024, the Group generated 75 million euros in revenue with a portfolio of orders exceeding 100 million euros. It now employs over 120 professionals, after increasing staff numbers by 140 per cent over the past four years. With facilities between Massa and Viareggio, and a total of over 67,000 square metres of production areas, Next Yacht Group looks to the future with a vision that combines technology, innovation, aesthetics and functionality. There are three production facilities at Viareggio, including seven fitting-out stations and 1,759 square metres of offices in the heart of the port, the prestigious headquarters at Via Coppino 114, an iconic meeting place for buyers with 800 m² of private lounges, and a private quay for testing, deliveries, and post-sales service. With over 360 yachts produced and a further 21 under construction, the group stands out for its attentive, personalised, and direct relationship with buyers and its desire to create exquisitely tailored experiences, so that every detail reflects the style and vision of people who live the sea with passion.

Maiora is the place where past and present meet, where technology becomes art and performance finds its soul. It is an invitation
to personal rebirth, inspired by the values of the Italian Renaissance.

(Maiora 50th Anniversary – The Next Generation at Maiora – Barchemagazine.com – Excerpted from Barche, February 2026)

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Nanni – Audacity and perseverance

BARBARA BORGONOVO — Mon, 11 May 2026 13:44:53 +0000

Nanni is a leading player in the nautical world. From sailing boats to super yachts, fast and medium-sized motorboats, to commercial vessels in the passenger transport, fishing, oil and gas, bulk carrier and military boat sectors, its range of engines extends from 10 to 2,200 hp and its generators from 5 to 763 kilowatts. In the pleasure craft sector, the largest unit installed to date is 125 kilowatts, on board the 50Steel Sanlorenzo

by Sacha Giannini

The group is led by Amalia Festa, Gregorio Passani and Michele Insom, who have clear ideas about how to tackle the future, but also how to handle the present. Pursuing consistently achievable objectives, and leveraging partnerships, investments, product research and staff organisation, the company has been able to anticipate, sense and simplify – in advance – the situation for many yards, by offering integrated and diversified systems on a dual track: commercial and leisure use. Nanni not only adapts engines designed for the industrial, automotive and truck sectors to the needs of a boat, but also offers the customisation of a product designed for the sea, with the necessary ‘equipment’ to ensure that everything works not only for propulsion but also for power generation, which it has been developing through teamwork with Kubota since 1976, MAN T&B since 1988, Toyota since 2000, John Deere since 2014 and SCANIA since 2018.

Nanni generators are designed on three motor bases: Kubota for small power ratings from 5 to 36 kW, John Deere for 45 to 150 kW and MAN T&B for 177 to 764 kW, which are intended more for the naval market, such as large bulk carriers or the ‘Ichnusa Lines’ passenger ships operating between Sardinia and Corsica, to name but a few.

Michele Insom, Marketing Director, says: “At first, electricity was not a consideration; it was mainly a propulsion production; generators were manufactured primarily for the commercial market. Over the years, Nanni has grown from a supplier of engines to a supplier of power packages for the nautical world, shipyards and shipowners, including engines, generators and equipment for the operation of the system, from displays to control systems, electrical connectors, throttles and joysticks”.

«Our vision for the next 10-20 years is to maintain our “engine-building” spirit, but also to become a different player on the market, capable of offering a standard product that is also a system suitable for integrating every new energy need».
Gregorio Passani, General Manager and Chief Business Officer

Gregorio Passani explains: “Our strategy is to diversify solutions, including those that we continually implement and those that have already been set up and are operational, from the use of alternative fuels to hydro-treated vegetable oil biofuels (HVO) that our engines can already work on. And then there is the methanol we have already used in the bulk carrier project in San Giorgio del Porto, and also in the yachting sector for Sanlorenzo, with propulsion by MAN and Nanni generators that both run on methanol, helping reduce emissions by 70 per cent. But we also have plenty of hybrid and full electric solutions, which are increasingly efficient thanks to the recent partnership with the French company EODev (Energy Observer Développement), which is an expert in developing technologies to produce zero-impact energy using an oxidation reduction process that converts the chemical energy of fuels like hydrogen or natural gas into electricity. Nanni combines a technological and propulsion package with the engine, generator, and technologies in a single block. At the same time, EODev produces and supplies hydrogen-fuel-cell-powered generators with portable battery packs. Nowadays, the integration is synergetic, because – within our marine solutions – we can also include their products, thus getting two engines or two Nanni generators, or two hydrogen fuel cell generators, integrated with battery packs and other components, in a system that is really a winner”.

«What makes us different from the market is that we have created the most complete package possible for energy on board a boat, both in terms of how it moves and how it generates electricity».
Michele Insom, Marketing Director

Michele Insom emphasises: “This all occurs inside cabins that are extremely well soundproofed, where our soundless project has been designed for a market that aims both at reducing emissions and at ensuring comfort. It is not just an ecological issue, and we have worked a lot on reducing noise, which is the first thing when it comes to onboard comfort when a generator is turned on, mainly improving the air flow coming in and out, stopping sound bouncing around by using supports and materials in the way, like the sound-absorbing structure of the cabin walls, which rather than having the traditional foam, uses a composite of various metal strips to try to absorb sound – with results of between eight and ten fewer decibels compared to the market standard”.

Nanni marine generators mainly have three configurations. The soundless genset, explicitly designed for superyachts, has a noise level of 61.7 dB(A), just above the 50 dB/A) level considered pleasing to the human ear. This is available as an option on lower-power-rating units. Then there is the cabinless version for a more professional market, which doesn’t need soundproofing, and the cabin standard, which reaches the 70 decibels required as a market threshold.

The Nanni strategy calls for a wide range of technologies, both renewable and otherwise, to reduce dependence on a single energy source, reduce emissions, and adapt to clients’ continually evolving needs. Michele Insom says: “We can use a lot of alternative fuels, which are very applicable in a market that needs machines that are continually working, compared to the electric or hybrid solutions, which are reserved for a more pleasure use for the simple reason that they are restricted in terms of hours because of safety, and battery life. For this reason, our electrification systems are equipped with parallel diesel generators to ensure a power supply during navigation when no charging point is available”.

Nanni develops generator sets with a total output of up to 4,000 kilowatts, with up to 1 megawatt per generator, intended for large ships and with budgets starting at €2 million. This is an incredible achievement, as is the company’s turnover, which has almost doubled since Covid, from around €28 million to nearly €50 million.

Whereas a hydrogen cell needs a substantial amount of room, making it difficult for leisure use, a methanol tank requires 20% more volume than a diesel one, allowing a reduction in emissions without much increase in storage space. The new generation, represented by Gregorio Passani and Michele Insom, continues a path taken over thirty years ago by their mother, Amalia Festa. Gregorio Passani is General Manager and Chief Business Officer. At the same time, Michele Insom is Head of Spare Parts and Marketing Director while also handling the very important aftermarket, which deals with service, the post-sales network, digitalisation of the operations, parts orders and management of engines, up to technical documentation, to speed up the supply, and also to train personnel and customer assistance.

Opening image, photo by ©Guillaume Plisson.

(Nanni – Audacity and perseverance – Barchemagazine.com – Excerpted from Barche, January 2026)

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Sanlorenzo Spa – Approved the financial statements as of 31 december 2025

BARBARA BORGONOVO — Mon, 27 Apr 2026 07:11:04 +0000

The Shareholders’ Meeting also approved: the “First Section” of the Report on Remuneration and resolved in a favourable sense on the “Second Section”; the “2026 Performance Shares Plan”; the “Second Simpson Marine Plan”; the authorisation to purchase and dispose of treasury shares, subject to the revocation of the previous authorisation. A dividend of €1.05 per share has been proposed

The Consolidated Financial Statements and the Consolidated Sustainability Report for FY2025, included in the report on operations of the 2025 Annual Financial Report, were also presented to the Shareholders’ Meeting.

The Ordinary Shareholders’ Meeting of Sanlorenzo S.p.A. met in first call, under the chairmanship of Mr. Massimo Perotti. Pursuant to Article 106, paragraph 4 of Italian Decree-Law no. 18 of 17 March 2020, converted into law with amendments by Italian Law no. 27 of 24 April 2020 (the “Cura Italia Decree”), as amended and most recently extended by Article 4, paragraph 11, of Italian Decree-Law no. 200 of 31 December 2025, converted into law with amendments by Italian Law no. 26 of 26 February 2026, as well as Article 135-undecies.1 of Italian Legislative Decree no. 58 of 24 February 1998, as subsequently amended and supplemented (the Italian Consolidated Law on Finance or “TUF”) and Article 10.4 of the Company’s by-laws (the “By-laws”), participation in the Shareholders’ Meeting was held exclusively through the designated representative Monte Titoli S.p.A.

FINANCIAL STATEMENTS
AND PROPOSAL
FOR THE ALLOCATION OF PROFIT

The Shareholders’ Meeting approved the Financial Statements for the year ended 31 December 2025 and the proposal for the allocation of profit, including the distribution of a dividend of €1.05 per share, gross of withholding tax, for a total amount of €37,147,696.95[1], without prejudice to the number of shares entitled to payment, to be determined on 19 May 2026 (record date).

Massimo Perotti

The ex-dividend date will be on 18 May 2026, with payment on 20 May 2026. The dividend amount corresponds to a pay-out of 34.6% of the Group’s net profit.

The Consolidated Financial Statements for the year ended 31 December 2025 were also presented during the Shareholders’ Meeting and showed net revenues from the sale of new yachts (“Net Revenues New Yachts”[1]) equal to €960.4 million, up by 3.2% compared to €930.4 million in 2024, EBITDA equal to €180.6 million, up by 2.4% compared to €176.4 million in 2024, EBIT equal to €139.9 million, up by 0.4% compared to €139.3 million in 2024, Group net profit equal to €107.4 million, up by 4.2% compared to €103.1 million in 2024 and a net cash position equal to €20.1 million, compared to €29.1 million as of 31 December 2024 (net of: (i) dividend payment of €34.8 million; (ii) organic net investments of €48.2 million; and (iii) extraordinary cash outflows of €1.2 million for M&A investments).

CONSOLIDATED SUSTAINABILITY REPORT

The 2025 Consolidated Sustainability Report, included in the report on operations of the 2025 Annual Financial Report, was presented to the Shareholders’ Meeting, in compliance with Italian Legislative Decree no. 125 of 6 September 2024, issued in implementation of Directive 2022/2464/EU (“Corporate Sustainability Reporting Directive”), as well as the requirements set out in Regulation (EU) 2020/852 of the European Parliament and of the Council and the related delegated regulations.

The Consolidated Sustainability Report has been prepared in accordance with the European Sustainability Reporting Standards (“ESRS”), adopted by the European Commission, and includes information on the Sanlorenzo Group’s activities related to ESG matters.

The Group has monitored and reported its commitment within this document, and continues to pursue a balanced approach between financial, environmental, and social objectives, through a comprehensive and responsible 360-degree approach. This includes a strong focus on the sustainability of products and processes, human resources, the supply chain, and the broader territory in which it operates.

REPORT ON REMUNERATION

The Shareholders’ Meeting examined the Report on the policy regarding remuneration and fees paid (the “Report on Remuneration”) prepared by the Company’s Board of Directors pursuant to Article 123-ter of the TUF and Article 84-quater of Consob Regulation no. 11971 of 14 May 1999 (the “Issuers’ Regulation”).

The Shareholders’ Meeting approved the “First Section” of the Report on Remuneration, related to the Company’s remuneration policy for members of administrative bodies, general managers and managers with strategic responsibilities, and resolved in favourable sense on the “Second Section” of this report.

2026 PERFORMANCE SHARES PLAN

The Shareholders’ Meeting approved, pursuant to Article 114-bis of the TUF, the adoption of a compensation plan based on financial instruments, aiming to ensure incentive and loyalty, called the “2026 Performance Shares Plan”, reserved to executive directors, general managers, managers and collaborators not bound by employment contracts of Sanlorenzo and of its direct or indirect Italian and foreign subsidiaries pursuant to Article 93 of the TUF, or qualifying as subsidiaries in accordance with the accounting standards applicable over time or included in the consolidation perimeter, to be implemented through the free assignment of rights valid for the free assignment of ordinary treasury shares in the Company’s portfolio.

The information document on the 2026 Performance Shares Plan, prepared pursuant to Article 84-bis and Annex 3A, Scheme 7 of the Issuers’ Regulation, is available at the Company’s registered office at via Armezzone 3, Ameglia (SP), Italy, on the Company’s website (www.sanlorenzoyacht.com, “Corporate Governance/Shareholders’ Meeting/Ordinary Shareholders’ Meeting 24 April 2026” Section) and on the authorised eMarket Storage mechanism (www.emarketstorage.it).

SECOND SIMPSON MARINE PLAN

The Shareholders’ Meeting approved, pursuant to Article 114-bis of the TUF, the adoption of a compensation plan based on financial instruments, aiming to ensure incentive and loyalty, called the “Second Simpson Marine Plan” and restricted to a limited number of directors, executives, employees and collaborators of the company Simpson Marine Limited (“Simpson Marine”) incorporated under the laws of Hong Kong and controlled by Sanlorenzo pursuant to Article 93 of the TUF, concerning shares of Simpson Marine. The plan provides that each beneficiary is entitled to purchase Simpson Marine shares from Sanlorenzo at their nominal value and, subsequently, to sell them back to the Company at a variable and variable and rewarding price based on the time elapsed since their purchase.

The information document on the Second Simpson Marine Plan, prepared pursuant to Article 84-bis and Annex 3A, Scheme 7 of the Issuers’ Regulation, is available at the Company’s registered office at via Armezzone 3, Ameglia (SP), Italy, on the Company’s website (www.sanlorenzoyacht.com in the “Corporate Governance/Shareholders’ Meeting/Ordinary Shareholders’ Meeting 24 April 2026” Section) and on the authorised eMarket Storage mechanism (www.emarketstorage.it).

AUTHORISATION TO PURCHASE
AND DISPOSE OF TREASURY SHARES

The Shareholders’ Meeting approved the authorisation to purchase and dispose of the Company’s treasury shares, pursuant to the provisions of Articles 2357 and 2357-ter of Italian Civil Code, as well as Article 132 of the TUF, and to revoke the authorisation resolved by the Ordinary Shareholders’ Meeting on 29 April 2025, so that the Company will have, as from this Shareholders’ Meeting, a single shareholders’ authorisation.

The authorisation was approved for the purchase, even in several tranches, of ordinary shares up to a maximum amount of 3,565,394 shares, corresponding to 10% of share capital, for a period of 12 months and 6 days starting from the date of the relevant resolution of the Shareholders’ Meeting, and therefore until 30 April 2027. The authorisation to dispose of treasury shares was approved with no time limits.

As of today’s date, the Company holds no. 298,794 treasury shares equal to 0.84% of the share capital subscribed and paid-in.

* * *

The summary report on the votes and the minutes of the Shareholders’ Meeting will be made available to the public within the terms and according to the procedures set out by law.
The manager in charge of preparing the Company’s financial reports Attilio Bruzzese, pursuant to Article 154-bis, paragraph 2, of the TUF, states that the information in this communication correspond to the records, ledgers and accounting entries.
This document includes some alternative performance indicators. The represented indicators are not identified as accounting measures in the context of IFRS standards and, therefore, must not be viewed as alternative measurements to those included in the financial statements. The management team considers these indicators as important additional parameters for the assessment of the Group’s economic and financial performance.
The Annual Financial Report as at 31 December 2025, comprehensive of the Separate Financial Statements, the Consolidated Financial Statements, the Report on Operations, which includes the 2025 Consolidated Sustainability Report, and the certifications pursuant to Article 154-bis of the TUF, as well as the Reports prepared by the independent auditing firm and the Board of Statutory Auditors, is available to the public at the Company’s registered office in Ameglia (SP), via Armezzone 3, on the Company’s website (www.sanlorenzoyacht.com, “Investors/Financial Results and Documents” and “Corporate Governance/Shareholders’ Meeting/Ordinary Shareholders’ Meeting 24 April 2026” Sections) and on the eMarket Storage mechanism (www.emarketstorage.com).
The Report on Remuneration is available at the Company’s registered office in Ameglia (SP), via Armezzone 3, on the Company’s website (www.sanlorenzoyacht.com, “Corporate Governance/Shareholders’ Meeting/Ordinary Shareholders’ Meeting 24 April 2026” Section) and on the eMarket Storage mechanism (www.emarketstorage.com).

[1] Excluding the treasury shares held by the Company, equal to no. 298,794 at today’s date (2026-04-24)
[2] Net Revenues New Yachts are calculated as the algebraic sum of revenues from contracts with customers relating to the sale of new yachts (recognised over time with the “cost-to-cost” method) and pre-owned yachts, net of commissions and trade-in costs of pre-owned boats.

Opening image, the Sanlorenzo 74Steel

(Sanlorenzo Spa – Approved the financial statements as of 31 december 2025 – Barchemagazine.com – April 2026)

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E-Lektra Marine

BARBARA BORGONOVO — Thu, 23 Apr 2026 13:28:35 +0000

An unprecedented strategic alliance between Groupe Bénéteau and Group Fountaine Pajot to accelerate the electrification of sailing and advance low-emission solutions.

Today, more than 99% of sailboats are equipped with an internal combustion engine. Contrary to popular belief, even a sailboat needs an internal combustion engine, whether for harbour manoeuvres, when there is no wind, or to cover part of the onboard energy needs. To change this, Groupe Bénéteau and Fountaine Pajot Group are creating E-Lektra Marine, an unprecedented alliance bringing together seven major sailing brands — Bénéteau, Jeanneau, Lagoon, Excess, Fountaine Pajot Sailing Catamarans, Fountaine Pajot Yachts e Dufour — to create a shared standard for electric propulsion and onboard energy autonomy, with a clear ambition: to accelerate the electrification of sailing and support the transition to low-emission solutions, while helping bring electric solutions to 10% to 15% of the global sailing market to electric by 2030.

E-Lektra Marine: two groups, seven brands,one shared goal: structuring a global standard for the electrification of sailing

Groupe Bénéteau and Fountaine Pajot Group are announcing the creation
of E-Lektra Marine, a 50/50 joint venture dedicated to electric propulsion and intelligent onboard energy management.

By bringing together, for the first time, seven major brands that remain commercially independent, the two French groups are combining their scale and capabilities to create a global standard for sailboat electrification and energy management, open to all players in the boating industry.

FP44 Electric ODSea+; Photo credit: G. Martin-Raget

Sailing is a unique case in the energy transition: it combines the challenges of the automotive industry — silent propulsion with lower emissions — with those of housing — autonomous energy management, far from any grid. While an electric car can be recharged at any time from a power outlet, a sailboat must be able to produce, store and distribute its own energy at sea. Solar power, batteries, generator, propulsion and onboard comfort: all energy flows must be orchestrated in real time. It is precisely to meet these two challenges simultaneously that E-Lektra Marine was created.

In sailing, the primary challenge lies not only in propulsion but also in managing the vessel’s overall energy autonomy onboard.

The challenge is not limited to propulsion: E-Lektra Marine also addresses the sailboat’s overall use. Onboard energy management is equally important, as it determines autonomy, comfort, reliability, and, depending on the use case, the ability to operate with lower emissions.

After pooling their life cycle assessment methodologies for their boats, the two leaders are taking a further step by forging a shared decarbonisation roadmap. In this context, they are relying on technologies that have now been proven effective: Groupe Bénéteau has already been offering low-voltage electric solutions on its sailboats up to 12 metres for several years, while Fountaine Pajot deploys high-voltage hybrid solutions on its catamarans over 15 metres. Now mature, these technologies are ready to scale. Rather than each developing its own technological base, the two groups have chosen to co-build a shared platform, open to the entire boating industry.

Dufour 48 Electric ODSea+; Photo Credit, JM Liot

Its mission: to design and deploy an onboard system that is competitive with internal-combustion solutions and capable of orchestrating all onboard energy flows in real time.

In concrete terms, E-Lektra Marine’s experts in naval electrical system architecture will define, specify and validate standardised electric propulsion and energy management solutions, adapted to different sailboat sizes and uses.

E-Lektra Marine will rely on a group of strategic partners, including Alternatives Energies (based in La Rochelle), specialised in electric systems integration; Cirtem (Toulouse), an expert in energy conversion and management; and EVE System (Lyon), a specialist in battery pack design, as well as on the expertise of both groups.

A model accessible to all market participants to achieve critical mass and make these solutions straightforward and competitive.

The challenge for E-Lektra Marine is not only technological: it is also economic. By bringing together the production volumes of seven brands (60% market share) and those of other major players in the sector, the platform aims to reach the industrial thresholds needed to make these solutions simpler and more competitive.

Jeanneau Sea Loft 480

An offer designed to deliver simpler, more accessible low-emission solutions for sailing

In concrete terms, the systems offered by E-Lektra Marine will provide:

Electrification solutions adapted to all sailboat sizes from 9 to 24 metres, from full electric to low-voltage and high-voltage hybrid solutions.
Optimised onboard energy management between solar power, engine, generator, comfort equipment and shore power connection.
Real-time monitoring of consumption through an easy-to-use
A standardised system supported by a global network of approved and trained service partners.
Continuous improvements to the solutions offered to boaters, making them ever more competitive and efficient.
A refit solution enabling current owners to switch to

With E-Lektra Marine, the ambition is clear: to offer customers low-emission solutions for sailing, tailored to their needs with no compromise on safety, simplicity or freedom of navigation.

The two French groups are aiming for a market scale-up by 2030

Groupe Bénéteau began its electrification journey more than 20 years ago, notably with the first Lagoon 421 models, before continuing in recent years with fully electric solutions on its Bénéteau Oceanis monohull sailboats from 30 to 40 feet, on its inland waterway boating offer with the Delphia brand, and expanding it with hybrid solutions on several models, including the Excess 11 and the Jeanneau Sealoft 480.

Fountaine Pajot Group, for its part, positioned itself in the cruising catamaran electrification market with the Aura 51 and the Samana 59, its first proven sailing concrete and reference models. Building on these technical validations, the Group is now taking a further step by rolling out electric solutions across all Fountaine Pajot Sailing Catamarans, Fountaine Pajot Yachts and Dufour monohull sailing brands.

By pooling the volumes of 7 brands, representing 60% of the global market, E-Lektra Marine aims to structure an open global standard at the scale of the sailing market, with a shared objective: to electrify 10% to 15% of the global sailing market by 2030, representing several hundred boats per year.

From the left: Mathieu Fountaine and Bruno Thivoyon

“With E-Lektra Marine, two major players in the sailing industry are joining forces in an unprecedented alliance to accelerate the electrification of sailing. By combining our industrial expertise, we aim to establish open standards and make low-emission solutions simpler, more accessible and scalable”. Bruno Thivoyon, Chairman of the Management Board, Groupe Bénéteau

“After several years of deployment, Alternatives Energies has demonstrated that scalable solutions do exist. The E-Lektra Marine joint venture with Groupe Beneteau shows that our industry can mobilise around shared environmental objectives. Today, electrification is becoming essential; it must now be made accessible across the entire sailing market”. Mathieu Fountaine, Deputy Chief Executive Officer, Fountaine Pajot

Opening image EXCESS 11 Hybrid; Photo credit: Julien Gazeau

(E-Lektra Marine – Barchemagazine.com – April 2026)

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Veco arrives in Australia

BARBARA BORGONOVO — Fri, 03 Apr 2026 08:51:51 +0000

The Italian company and Gineico Marine have strengthened a Partnership for the Australian Market

Veco, the Italian leader in marine HVAC and refrigeration, is proud to announce a new strategic partnership with Gineico Marine, appointing them as the exclusive distributor in Australia. This collaboration marks a significant milestone in Veco’s international expansion, aiming to provide unparalleled sales, service, and technical support to the growing Australian boating community. With over 50 years of experience, Veco is globally recognised for its Climma marine air conditioning systems and Frigoboat refrigeration solutions.

This partnership with Gineico, a company that has specialised in the distribution and technical support for leading Italian brands since 1976, offers a perfect synergy between Veco’s high-end Italian engineering and Gineico’s extensive distribution and support network. The Australian market presents a unique environment, demanding reliable and efficient climate control solutions. By joining forces with Gineico, Veco ensures that boat builders, refit yards, and vessel owners have direct access to cutting-edge technology.

“We are thrilled to partner with Gineico Marine”, said Giulia Formenti, Sales Director at Veco S.p.A. “Their reputation for representing premium Italian brands and their commitment to innovation and technical excellence perfectly align with our values. Australia is a key market for us, and we are confident that Gineico is the right partner to develop our presence and support our customers with the highest standards”.

Giulia Formenti

For Gineico Marine, adding Veco to their portfolio strengthens their position as the number one Italian marine equipment supplier. Gineico will handle all aspects of market development, from OEM integration to after-sales service and spare parts distribution. “The addition of Veco’s Climma and Frigoboat ranges to our offering is a natural fit”, commented Gineico Marine. “Australian boat owners demand quality, reliability and performance, especially in our harsh tropical climates. Veco’s products are world-class, and we look forward to providing the local market with innovative, adaptable solutions backed by our unbeatable technical support and after-sales service”.

(Veco arrives in Australia – Barchemagazine – April 2026)

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SEA Index welcomes Nanni as a new Ally

BARBARA BORGONOVO — Thu, 02 Apr 2026 13:56:39 +0000

The Superyacht Eco Association SEA Index has announced that Nanni has joined its circle of SEA Index allies, reinforcing a shared ambition: advancinga more responsible, innovation-driven, and action-oriented yachting industry

Developed by the Yacht Club de Monaco, the SEA Index® has become a leading framework for independent, scientifically verified environmental certification for superyachts. Its ambition is clear: help the sector move from metrics to measurable improvements, supporting owners, shipyards, marinas, and technology partners in adopting more sustainable solutions.

With its new status as SEA Index Ally, Nanni contributes advanced marine propulsion and onboard innovations designed to improve energy efficiency, reduce emissions, and prepare the industry for a new generation of cleaner maritime technologies. Among the key areas where Nanni is accelerating progress.

Complete Marine Package composed by:
– Hybrid and next generation propulsion solutions
– Generator Set- Nanni BESS

These advanced systems represent the forefront of solutions for reducing emissions, onboard noise and overall environmental impact.

They include:
– Dual-fuel methanol and HVO technologies that significantly lower emissions
– The Nanni Soundless Cabin, designed to improve acoustic comfort
– Battery packs with intelligent energy-management systems, optimising storage and power distribution in all vessel conditions

The above innovations have already been successfully deployed across multiple real-world projects, including Life Mystic, developed in partnership with Sanlorenzo. SEA Index has also CO₂-rated the Sanlorenzo Almax 50 m steel yacht, equipped with a methanol reformer, which earned a 3-star rating, demonstrating the viability of nextgeneration propulsion pathways. Together, these solutions, Life Mystic, HVO implementation, Soundless technology, the EODEV collaboration and hybrid/nextgen propulsion systems—showcase concrete, proven progress toward cleaner and more efficient yachting.

The partnership presented at the 30th editio
of the Captains’ Forum

This strengthened collaboration showcased internationally on 24 March 2026, during the 30ᵗʰ edition of the Captains’ Forum, held within the framework of “Monaco, Capital of Advanced Yachting”. Nanni took part in the highlevel panel: “From certification to action: tools for more resilient yachting”.

The discussion focused on:
– the real environmental impact of onboard systems
– technical pathways to reduce emissions
– how certification frameworks such as SEA Index guide the sector toward operational improvements and investment decisions During the session,

Giammario Meloni, Director of Commercial and Defense Sales for the Mediterranean, presented Nanni’s most recent innovations aimed at reducing the environmental impact of engines and onboard equipment.

“Welcoming Nanni as a SEA Index Ally further reinforces our collective capacity to drive meaningful and lasting transformation within the yachting industry. Innovation is no longer confined to engine manufacturers. It is now reaching equipment specialists, including generator makers such as Nanni, which is a clear sign that sustainability is permeating every layer of the maritime supply chain. This momentum echoes the pioneering spirit we see each year at the Monaco Energy Boat Challenge, where new technologies first take shape before spreading through the industry. Nanni’ s engineering excellence and commitment to practical innovation are fully aligned with the SEA Index® mission and long-term roadmap”, said Bernard d’Alessandri, General Secretary, Yacht Club de Monaco..

“Joining the SEA Index program represents an important milestone for Nanni. We believe that technological innovation must translate into measurable environmental progress, and the SEA Index provides the scientific and operational framework needed to make this transition real. Through this partnership, we aim to provide yacht owners, captains, and shipyards with effective and scalable solutions that elevate the standards of clean and responsible yachting”, said Gregorio Passani, Chief Business Officer e General Manager, Nanni.

(SEA Index welcomes Nanni as a new Ally – Barchemagazine.com – April 2026)

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Grand Banks – 70 years of pioneering long-range cruising yachts

BARBARA BORGONOVO — Tue, 17 Mar 2026 07:56:40 +0000

Honouring seven decades of craftsmanship and heritage that have shaped modern passage making at speed.

In 2026, Grand Banks Yachts will celebrate its 70th anniversary, marking seventy years of innovative boatbuilding that has influenced the development of the modern power cruising yacht. The celebration will officially begin at the Palm Beach International Boat Show on March 25, starting a seven-month global event featuring owner gatherings, storytelling, and special editorial content to honor seven decades of the company’s remarkable history—from its origins on the Hong Kong waterfront in 1956 to its current status as a leader in long-range cruising performance.

A well heritage

Few boatbuilders can boast a legacy as impactful as that of Grand Banks. Over more than seventy years, the company has introduced groundbreaking designs, pioneered new technologies, and cultivated a worldwide community of owners who value meticulous craftsmanship and durable yachts built for serious cruising.

“People who know me well know I’m not someone who spends much time looking in the rearview mirror”, said Mark Richards, CEO and Chief Designer of Grand Banks. “But when you reach a milestone like this, it’s worth pausing to recognise the pioneers, craftsmen, designers, and owners who built something truly special. Grand Banks didn’t just build boats— it helped define what long-range cruising could be. The responsibility we carry today is to honour that spirit of innovation while continuing to push forward”.

The history

Founded as American Marine Ltd. in 1956, the company started as a shipwright’s business focused on building honest, capable boats. That ethos reached its defining moment in 1964 with the launch of the Grand Banks 36, a cruising yacht that effectively created the production trawler category and established a design style that would influence generations of passagemaking yachts. Over the decades that followed, Grand Banks repeatedly pushed boundaries, from introducing the Alaskan-raised pilothouse series in 1968 to pioneering the shift from wood to fibreglass construction, and to launching the Eastbay line in 1993, which helped define the modern Down East performance cruiser.

When Richards took over the company in 2014, he embraced that pioneering spirit as a guiding principle for the new vision. Drawing on his background as a world-champion sailor and shipwright, he led a strategic transformation that reimagined what long-range cruising yachts could achieve in the modern era.

That vision culminated in the Grand Banks 60, introduced in 2017, and the debut of the company’s V-WARP Technology – a design and construction philosophy that delivers remarkable efficiency, performance, and range without compromise. The result is a new generation of Grand Banks yachts capable of long-range cruising at speed while achieving up to 65% greater fuel efficiency than comparable yachts in their class. Today, the Grand Banks and Eastbay portfolios span sixteen models, each reflecting that same commitment to innovation and purposeful design.

“Grand Banks has never been about standing still”, Richards added. “From the beginning, this was a company willing to rethink what was possible. Our founders embraced new ideas, new materials, and better ways of building boats. That mindset continues to guide everything we do today”.

The Celebration’s steps

The 70th Anniversary celebration will unfold over seven months in honour of seven decades, with a number of special initiatives:

Official kickoff at the Palm Beach International Boat Show, where owners and enthusiasts will gather to mark the start of the anniversary
A commemorative anniversary edition of the Grand Banks in-house magazine, exploring the brand’s history, innovations, and defining
Owner celebrations across the United States, Australia, and Europe, bringing together the global Grand Banks community.
Curated digital and editorial storytelling highlighting historic milestones, influential designs, and the people who shaped the brand over seven

What’s in the future

While the anniversary celebrates an extraordinary legacy, the company highlights that the milestone is equally about the future. Looking ahead, Grand Banks is preparing to introduce the next chapter in the brand’s evolution with the upcoming Grand Banks 70. Currently in development, the new model will build on the brand’s hallmark proven efficiency and performance while introducing refined design, increased owner customisation, and capabilities aimed squarely at the future of long-range cruising at speed.

Grand Banks Yachts timeline

1956 — Company founded as American Marine in Hong Kong by Robert J. Newton and sons, John and Whit
1962 — Ken Smith commissioned to design Spray, forerunner to the GB36 1964 — Launch of 36-001; 1,141 GB36s built before model retirement in 2003
1965 — Launch of 42-001
1968 — Launch of first Alaskan series, the 46 designed by Art DeFever. This was followed by Robert Dorris designed Alaskan 45, 49, 53, and 55.
1969 — 32-138, first GB built in Singapore
1971 — Launch of first Laguna series
1973 — 36-366: first GB built with fiberglass construction
1980 — Introduction of Grand Banks 49-001
1984 — Launch of 46-001; nearly 300 sold globally
1993 — Debut of Eastbay 38 EX
1995 — Opening of Malaysia yard
1996 — The iconic Eastbay 49 is launched to instant success
2001 — Aleutian 64RP debuts, marking raised-pilothouse series
2003 — The Eastbay 54 is launched
2005 — Final 42 hull delivered (42-1560), one of the most iconic yachts in history
2006 — Grand Banks celebrates its 50th anniversary
2009 — Heritage 41 EU introduces planing hulls
2014 — Palm Beach Motor Yachts acquired; Mark Richards appointed CEO
2015 — Eastbay 44 reintroduced with IPS power
2017 — Launch of the next-generation Grand Banks 60
2019 — Debut of the Grand Banks 54
2022 — Debut of Eastbay 60
2022 — Worldwide debut of the Grand Banks 85 flagship
2025 — Debut of Grand Banks 62
2026 — 70 Years of Grand Banks: The Grand Journey Continues

(Grand Banks – 70 years of pioneering long-range cruising yachts – Barchemagazine.com – March 2026)

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Sanlorenzo Spa: actual results confirm 2025 guidance met at all levels

BARBARA BORGONOVO — Tue, 10 Mar 2026 10:18:16 +0000

The final results for 2025 confirm that the guidance has been fully achieved in each aspect, highlighting a significant increase in orders received. A dividend of €1.05 per share has been proposed, in line with the proportional growth in the group’s profits.

2025 growth across the main metrics sees all financial targets achieved, with Group Net Profit of €107.4 million (+4.2% YoY) and €3.04 EPS net of treasury shares. BoD proposing a €1.05 DPS for FY 2025 (34.6% payout ratio).
Material acceleration in demand across the portfolio: €943.1 million Order Intake in FY 2025 (+16.0% YoY), representing a €130 million uplift compared to the previous year – driven by the success of extraordinary new model launches and enduring brand desirability and strengthened distribution in MED, APAC and U.S.. Q4 2025 marks the 6th consecutive quarter of YoY growth in Order Intake, with €253 million new orders collected in the quarter (+10.1% YoY).
Exceptional order book, with €1.96 billion Order Backlog. 88% of orders are secured by final clients, reflecting the superior quality of the order book and Sanlorenzo’s scarcity model. Net Backlog consistently above €1 billion, thanks to a FY 2025 book-to-bill ratio of ~1x, which maintains the Net Backlog at solid levels over time while growing the top line.

The Board of Directors of Sanlorenzo S.p.A., chaired by Mr. Massimo Perotti, approved the consolidated financial statements and the draft separate financial statements as of 31 December 2025.

Massimo Perotti, Executive Chairman, commented: “In line with the preliminary release, our actual FY2025 results confirm a strong performance, reflecting the enduring appeal of a brand deeply valued by connoisseurs and a vision delivered with consistency. Even in a global environment influenced by several factors of external instability, including the new developments in the Middle East, Sanlorenzo continues to distinguish itself through positioning, innovation and scarcity. We hold a strong Order Backlog, representing more than 1 billion euros on a net basis, made up of high-quality orders which reflect the privileged relationship we nurture with a growing global club of sophisticated yacht owners. The strengthening of our direct distribution network with Simpson Marine across APAC and Sanlorenzo Med in Europe is paying off, increasing our proximity to clients. At the same time, when combined with the scarcity of our volumes, our direct sales footprint – from Florida to Hong Kong, and Cannes to Sydney – allows us to respond quickly to the evolution of demand across different geographic areas. Avoiding any risk of dealer stock build-up typical in the industry at times of changing market dynamics”.

Perotti then continued: “With respect to the Middle East, our direct exposure is limited, at around 7% of revenues. We continue to monitor the geopolitical situation closely, and it is worth noting that many of our Middle Eastern clients use their yachts primarily in the Mediterranean. We keep seeing the region as an attractive long-term growth market.

Massimo Perotti

A highlight of 2025 is Nautor Swan achieving net income profitability in just its first year of consolidation. Operational initiatives remain on track, efficiency actions are progressing, and business development is accelerating, with new product lines expected to strengthen the margin mix in the coming years. We have entered 2026 with a promising start and look forward to presenting our new Business Plan on 8 May at Casa Sanlorenzo in Venice, together with the Q1 2026 results, as we host our first proprietary exhibition during the Biennale Arte”.

FINANCIAL HIGHLIGHTS:

Order Intake at €943.1 million (+16.0% YoY, +€130 million YoY), validating the strength of the brand and the high product differentiation. Even in a challenging context, the Group confirmed its ability to collect significant orders despite scheduled contractual deliveries extending up to 2029. As of 31 December 2025, Sanlorenzo Group is strong of a €1,002.5 million Net Backlog, already in hand thanks to existing acquired orders, of which €618.1 million are related to 2026, benefiting from a significant level of coverage already at the beginning of the year, and €384.4 million related to 2027 and beyond providing a consistent level of visibility into future years.
Order Backlog at €1,962.8 million as of 31 December 2025, +0.7% year-on-year, 88% of which is already sold to final clients, demonstrating its exceptional quality.
Net revenues from the sale of new yachts (“Net Revenues New Yachts”) at €960.4 million (+3.2% YoY) compared to €930.4 million in 2024. The Yacht Division recorded €491.4 million (-5.4% YoY) with a strong Q4 (+8.2% YoY) with larger units kicking into production after the shift in Q3. The Superyacht Division recorded €281.5 million (+0.5% YoY) while the softer Q4 (-10.0%) was linked to production seasonality after an intense delivery season. The Bluegame Division recorded €85.5 million (-7.4% YoY), successfully navigating headwinds in the segment below 24mt. Finally, Nautor Swan contributed €102.0 million with exceptional performance (+45.1% in Q4 25 vs Q4 24), confirming integration achieved and the rationale of the acquisition.
Geographically, strong YoY revenues increase in Americas (+35.5% YoY), whose incidence stands at 20.7%, supported by further penetration in new markets in Central and South America. APAC (+5.1%) performed well, reaching €94.4 million, marking a strong uptick in the Far East and confirming the integration achieved with the Simpson Marine strategic platform. Europe’s (+1.3% YoY) performance was affected by a shift in Q4 to a more balanced quarterly global mix in favour of APAC approaching the yachting season, while MEA (- 28.0%) showed physiological lumpiness given the low-number/high-average-ticket market (+100.0% in Q4 25 YoY). Within the MEA region, Middle East accounts for around 7.7% of FY 2025 NRNY.
EBITDA at €180.6 million (+2.4% YoY), with an 18.8% margin on Net Revenues New Yachts, decreasing by 20 basis points compared to the previous year, confirming the solidity of the Group’s business model and its ability to successfully sell and execute high-value projects. EBITDA margin thus remains broadly stable even after the dilutive effect of the first year of 12-month consolidation of Nautor Swan; without Nautor Swan, margin expansion has been sustained by the accretive product mix, pricing power and a predominantly variable cost structure which ensures profitability resilience.
EBIT at €139.9 million (+0.4% YoY), with a 14.6% margin on Net Revenues New Yachts. The result reflects higher depreciation and amortisation mainly due to the full-year consolidation of Nautor Swan, which includes the effect of legacy investments made prior to the acquisition, as well as the Group’s ongoing investments in product development and production capacity.
Group Net Profit at €107.4 million (+4.2% YoY), with a double-digit (11.2%) bottom-line marginality on Net Revenues New Yachts. Parent company Sanlorenzo S.p.A. Net Profit at €90.4 million; proposed dividend of €1.05 per share for FY 2025.
Organic Net Capex at €48.2 million, with an incidence of 5.0% on Net Revenues New Yachts, a decrease of 0.3% compared to 2024. Around 89% of investments were expansionary, mainly dedicated to the expansion of industrial capacity and direct distribution footprint, as well as to the development of new models and product ranges. Total Net Investments for the period, including perimeter changes referred to the consolidation of Arturo Foresti (strategic supplier of Bluegame operating in the field of electrical systems) and Mediterranean Yacht Management (in-house brokerage company of Nautor Swan), amounted €49.4 million.
Net Working Capital at €99.8 million as of 31 December 2025 (vs €36.0 million as of 31 December 2024), mainly reflecting the support to the expanded direct distribution network.
Net Cash position at €20.1 million as of 31 December 2025, compared to a Net Debt position of €14.0 million as of 30 September 2025, implying net cash generation of €34.1 million in Q4 2025. The Net Cash position as of 31 December 2025 includes €28.0 million of IFRS 16 liabilities.

Guidance 2026 to be released together with the Business Plan 2026-2028, to be presented on 8 May 2026 at Casa Sanlorenzo in Venice.

THE BOARD OF DIRECTORS HAS ALSO:

proposed a dividend of €1.05 per share, with a payout of 34.6% of Group Net Profit.
approved the 2025 Consolidated Sustainability Report in compliance with Italian Legislative Decree n. 125 of 6 September 2024, marking the second reporting exercise on environmental, social, and governance matters.
conferred powers on the Chairman and Chief Executive Officer to convene the Ordinary Shareholders’
Meeting on 24 April 2026, on first call, in accordance with the law.

OPERATIONAL HIGHLIGHTS:

Sanlorenzo achieved Top Employer Italy certification in 2025, reaffirming its leadership position in yachting and the Group’s commitment to investing in workplace culture, safety, inclusion, and talent development initiatives.
Sanlorenzo opened its new Americas headquarters and customer lounge at Pier Sixty-Six Marina, Fort Lauderdale, on 30 October. Timed with the Fort Lauderdale International Boat Show, the opening underscores the brand’s expansion across the Americas and its long-term commitment to this growth region.
Sanlorenzo expanded its global distribution footprint by incepting local presence through exclusive leading established brand representatives in high-potential, underpenetrated geographies (Brazil and Mexico) and new geographies (Japan and western Australia).
Sanlorenzo debuted the new 58 Steel in November 2025, presenting a new benchmark in superyacht design between 55 and 60 metres, introducing a revolutionary diesel-electric system reducing emissions by 10% and noise levels to near silence, whilst unlocking new interior volumes. The first Perla Lunar is on the water, with a second hull already in production.
Sanlorenzo unveiled SHE, the new Sanlorenzo Heritage model that fuses timeless design with IPS hybrid-electric propulsion on 22 October. The global reveal led to first client orders confirmed within a week of launch.
On 1 October, the company revealed 74Steel, Sanlorenzo’s newest flagship superyacht, ahead of its launch from La Spezia. The 74Steel is the largest yacht ever crafted by the yard and reinforces Sanlorenzo’s influence in the larger- yacht category while maintaining its focus below 2,000 GT.
Sanlorenzo took centre stage at the major autumn yacht shows in Cannes, Monaco, Genoa, and Fort Lauderdale. In Cannes, the SL110A, SX120, and SD132 made their public debuts, confirming the strength of demand from our customers, proven by the fast conversion into orders already in Q3, with the Yacht Division alone posting more than €200 million of Order Intake, as well as by the significant pipeline of negotiations building up for the coming quarters.
Nautor Swan debuted two new models: the Swan 51 at the Cannes Yachting Festival and the Maxi Swan 128 at the Monaco Yacht Show, alongside the release of the first renders of the Swan Alloy 44. Together, they strengthen the Group’s leadership in the high-performance sailing segment.
Bluegame introduced the new BGF line featuring foil technology developed from its hydrogen-powered America’s Cup tender programme. The BGF45, the range’s first model, premiered at Cannes.
The inaugural exhibition, Breathtaking by Fabrizio Ferri, opened at Casa Sanlorenzo in Venice on 1 September to critical acclaim. First opened during the inaugural Venice Climate Week, the cultural hub of Sanlorenzo Arts celebrates the meeting of art, design, and the sea, strengthening brand storytelling and customer engagement.
The new SX120 and SL110A were launched to acclaim in July, marking significant expansions of the brand’s most emblematic yacht lines and fully aligned with its product strategy in the 30-50 metre segment, reinforcing Sanlorenzo’s leadership in the sweet spot of the market. Joining the SD132, these three latest additions to Sanlorenzo’s acclaimed Asymmetric, Crossover and Semi-Displacement lines were premiered to clients and the yachting community at the Cannes Yachting Festival.
Firmly committed to Road to the 2030 sustainability roadmap with tangible progress, including the development alongside MAN of technology for the trailblazing 50 X-Space, the first yacht with bi-fuel green methanol propulsion, capable of reducing emissions during navigation by up to 70%, setting a new standard for sustainability in the yachting sector, with the yacht now targeted for launch before the end of the decade.
Global and regional leadership was strengthened in 2025 with the appointment of Renato Bisignani as the Group’s first Chief Marketing & Communications Officer and Daniele Lucà as Chief Executive Officer of Sanlorenzo APAC.

CONSOLIDATED NET REVENUES NEW YACHTS

Net Revenues New Yachts1 for the year ended 31 December 2025 amounted to €960.4 million, up 3.2% compared to €930.4 million in 2024.

NET REVENUES NEW YACHTS BY DIVISION

NET REVENUES NEW YACHTS BY GEOGRAPHICAL AREA

CONSOLIDATED OPERATING AND NET RESULTS

L’EBITDA² amounted to €180.6 million, up 2.4% compared to €176.4 million in 2024. The margin on Net Revenues New Yachts is equal to 18.8%, decreasing by 20 basis points compared to the previous year, yet confirming the solidity of the Group’s business model and its ability to successfully sell and execute high-value projects. EBITDA margin thus remains broadly stable even after the full-year consolidation of Nautor Swan, whose profitability is currently below the Group average. Excluding this effect, the steady increase in operating profitability is mainly linked to the progressive and reasoned increase in average sales prices, which are mostly linked to the change in product mix in favour of larger yachts in each division, demonstrating the solidity of the business model and the Group’s ability to continue selling and executing successful projects.

EBIT amounted to €139.9 million, up 0.4% compared to €139.3 million in 2024. The margin on Net Revenues New Yachts is equal to 14.6% (compared to 15.0% in 2024), discounting the higher D&A incidence of Nautor Swan given legacy investments carried out before the acquisition.

Group Net Profit reached €107.4 million, up 4.2% compared to €103.1 million in 2024, with a double-digit margin on Net Revenues New Yachts equal to 11.2%, supported by tax benefits compensating the adverse year- on-year trend of financial income/expenses given the cash-out for 2024 acquisitions.

CONSOLIDATED BALANCE SHEET AND FINANCIAL RESULTS

The Order Backlog³ as of 31 December 2025 amounted to €1,962.8 million, compared to €1,950.1 million as of 31 December 2024, continuing to provide a solid level of visibility, especially given that 88% of it is already sold to final clients (sell-out).

The Net Backlog (all revenues still to be booked from existing contracts) as of 31 December 2025 stands at €1,002.5 million (compared to €1,019.8 million as of 31 December 2024). €618.1 million are related to 2026, benefiting from a significant level of coverage already at the beginning of the year, and providing a consistent level of visibility into future years with €384.4 million related to 2027 and beyond.

The Order Intake for the full year 2025 totalled €943.1 million, up 16.0% compared to €812.9 million in 2024, with €178.1 million in Q1, €241.5 million in Q2, €270.1 million in Q3, and €253.4 million in Q4. This result confirms the strength and positioning of the brand in the market, demonstrating solid and resilient demand across the different phases of the economic cycle.

BACKLOG

BUSINESS OUTLOOK

The Sanlorenzo Group closes FY 2025 with Net Revenues New Yachts up 3.2% to €960.4 million and Group Net Profit of €107.4 million (+4.2% YoY), above expectations. The achievement of all financial targets in terms of the Guidance previously communicated to the financial markets is therefore confirmed.

Particularly noteworthy is the marked acceleration in demand across the entire portfolio: FY 2025 Order Intake amounts to €943.1 million (+16.0% YoY), €130 million higher than the previous year – supported by the success of the new models presented, the enduring desirability of the brand and the strengthening of distribution in MED, APAC and the USA. As a result, the order book remains robust, with a Gross Backlog of €1.96 billion, and of high quality, as 88% of orders is already sold to final clients, confirming both the high quality and the scarcity-driven model based on limited volumes. Net Backlog – i.e., all future revenues already contracted and yet to be recognized – stands at a level just above one billion euro, consistent with the Group’s growth profile while at the same time providing a significant level of visibility on future planning and performance.

Performance is supported by the vigorous growth of the Americas, which accelerate decisively (+35.5%), returning to a revenue mix contribution above 20%. This performance derives from a broadly significant recovery in order collection over the last 12 months, as well as deeper penetration in selected Central and South American markets, where the Group has established a local presence through new Brand Representatives, whereas these markets had previously been served from abroad. Although, starting from the second quarter of the year, the US market shows increasing uncertainty linked to the policies of the current administration – particularly with reference to trade tariffs – which temporarily interfere with purchasing propensity, the Americas remain a market of primary importance for the Group’s growth, considering the large UHNWI population, the well-rooted culture of yachting and individual wellbeing, and Sanlorenzo’s penetration in the market still below its potential. From July onwards, uncertainty related to trade tariffs decreases, and the first positive signals from US clients already materialise at the main European boat shows in September. The important Fort Lauderdale boat show, held from 29 October to 2 November, records fewer attendees than the previous year, but of much higher quality in terms of client sophistication and willingness to purchase. The event also sees the inauguration of Sanlorenzo’s new Americas headquarters at the iconic Pier Sixty-Six luxury complex, a key milestone for the expansion of our brand and customer experience in the United States. Conversely, Latin America shows strong momentum, more than compensating in the second and third quarters for the cautious approach of US clients.

Also particularly significant is the performance of the APAC area (+5.1% in Net Revenues New Yachts), where the Sanlorenzo Group continues to grow and gain market share. The owned sales and service network – Simpson Marine – has been fully integrated and is proving to be an important competitive advantage in meeting the needs of an increasingly sophisticated clientele, both in the sales phase and in after-sales. APAC delivers a progressively increasing contribution in terms of Order Intake, quarter after quarter, and confirms itself as a highly strategic market for the Group given the gradual expansion of infrastructure and the strengthening of yachting culture, underpinning higher future penetration among the UHNWI population, still significantly lower than in Europe and the Americas. Through the Simpson Marine platform, with extensive

coverage and a local-for-local approach, the Sanlorenzo Group continues to pursue a regional expansion strategy aimed at entering new markets such as Australia and Japan, as well as strengthening its presence in strategic markets such as Thailand. Europe records slight growth (+1.3%), confirming the robustness of the Group’s historical markets and the deep loyalty of the “Sanlorenzo Customer Club of Connoisseurs”, a source of repeat purchases over time in line with the launch cycles of new models featuring ever more innovative content both in terms of concept design and onboard technology, as well as dimensional upgrades. The Cannes, Genoa and Monaco boat shows in September strongly confirm these dynamics, resulting in growing order collection also in Q3, strongly supported by the success of the new models presented – SL110A, SX120 and SD132 – which further fuel the upselling dynamics over time among recurring clients.

In MEA, Net Revenues New Yachts decline by 28.0%, reflecting a challenging comparison base versus the exceptional performance of 2024 and the natural volatility typical of a low-volume, high-ticket market. Despite this temporary effect, the area maintains growing relevance in the global yachting landscape, supported by strong wealth creation, a high concentration of UHNWIs and the expansion of infrastructure supporting ultra-high-end experiential luxury. Management, considering the events that have occurred in the days immediately preceding the date of this document, is closely monitoring developments and the potential impact of the situation in the Middle East following the outbreak of the conflict with Iran. Excluding African countries, which in 2025 account for approximately 1.4% of Net Revenues New Yachts, the Middle East area represented 7.7% of Net Revenues New Yachts in 2025. On the other hand, the resulting strengthening of the USD against the Euro is a positive factor for the US market.

On the strategic front, the integration of the Nautor Swan Group continues successfully, benefiting from significant synergies in procurement, the sharing of manufacturing know-how, savings in structural fixed costs and the strengthening of the commercial footprint. Product development progresses rapidly, with the newly presented Swan Alloy line – aluminium sailing superyachts from 44 to 65 metres – expected to provide a boost to growth, alongside new partnerships such as the agreement signed in March with Edmiston for brokerage in the United States. In parallel, the APAC distribution network, led by Simpson Marine, successfully completes its integration phase and now represents a solid strategic platform to capture the region’s significant long-term growth potential. In addition to the new Swan Alloy line, the Group is developing a further new line – Swan Scape – to broaden the offering to the so-called bluewater market segment, for clients who prioritise comfort and greater internal volume over performance.

Sustainable innovation, a cornerstone of the “Road to 2030” strategy, continues to represent a distinctive element and a competitive advantage for the Group. The path towards carbon neutrality progresses consistently, as demonstrated by the strategic partnership with MAN for the construction of the first 50X-Space superyacht featuring bi-fuel propulsion powered by green methanol, with launch expected in 2030. This project, together with the development of new hybrid and hydrogen solutions and the awards received by Nautor Swan for its advanced propulsion systems, confirms Sanlorenzo’s pioneering role in the green transformation of global yachting.

More broadly, the Group continues to benefit from the competitive advantage derived from its differentiated business model: high-end positioning, the uniqueness of a made-to-measure product, and a strong link with the world of design and innovation. The union of the Sanlorenzo and Nautor Swan brands – each with its own exclusive and non-overlapping identity – consolidates the creation of a unique yachting hub: the very best of motor and sailing yachting. These foundational elements underpin the Group’s ability to sustain and accelerate over the long term its virtuous growth trajectory, reinforcing confidence in future potential.

In a market affected in the short term by unpredictable external factors – such as continuous shifts in the scenario regarding United States trade policies as well as the military conflict in the Middle East – Sanlorenzo continues to stand out for positioning, innovation and scarcity of volumes, anticipating the needs of future owners, who are increasingly oriented towards wellbeing, longevity and the quality of their leisure time, which is typically scarce.

2025 CONSOLIDATED SUSTAINABILITY REPORT

The Board of Directors has reviewed and approved the 2025 Consolidated Sustainability Report, marking the second reporting exercise in compliance with Italian Legislative Decree no. 125 of 6 September 2024, issued in implementation of Directive 2022/2464/EU (Corporate Sustainability Reporting Directive) and the requirements of EU Regulation 2020/852 of the European Parliament and Council, along with related delegated regulations.

The Consolidated Sustainability Report has been prepared in accordance with the European Sustainability Reporting Standards (ESRS) issued by the European Commission and includes information on the Sanlorenzo Group’s activities related to environmental, social, and governance (ESG) matters.

The Group pursues a balanced approach between financial, environmental, and social objectives, monitoring and reporting its commitment within this document through a comprehensive and responsible 360-degree approach. This includes a strong focus on the sustainability of products and processes, human resources and the supply chain.

PROPOSAL FOR THE ALLOCATION OF PROFIT

In accordance with the dividend policy approved on 9 November 2019, the Board of Directors has resolved to propose to the Shareholders’ Meeting the distribution of a dividend of €1.05 per share for the 2025 financial year, representing a payout ratio of 34.6% of consolidated Group net profit and a YoY increase in line with net income growth. Parent company Sanlorenzo S.p.A. Net Profit at €90.4 million.

If approved by the Shareholders’ Meeting, the dividend will be paid on 20 May 2026, with the ex-dividend date set for 18 May 2026 and the record date on 19 May 2026.

OTHER RESOLUTIONS

The Board of Directors has approved the Report on corporate governance and ownership structures pursuant to Article 123-bis of Italian Legislative Decree no. 58 of 24 February 1998, as well as the Report on the policy regarding remuneration and fees paid pursuant to Article 123-ter of the same decree.

The Board of Directors has also favorably acknowledged the report of the Lead Independent Director and has confirmed the independence status of the Directors Licia Mattioli, Leonardo Luca Etro, Francesca Culasso and Marco Francesco Mazzù, both pursuant to Italian Legislative Decree no. 58 of 24 February 1998 and Recommendation 7 of the Corporate Governance Code, also in light of the quantitative and qualitative criteria for assessing significance as confirmed and resolved by the Board of Directors on 14 March 2023⁴. A similar positive verification was also carried out with respect to the members of the Board of Statutory Auditors.

NOTICE OF CALL OF THE ORDINARY SHAREHOLDERS’ MEETING

The Board of Directors has conferred powers on the Chairman and Chief Executive Officer to convene the Ordinary Shareholders’ Meeting on 24 April 2026, on first call, in accordance with the law.
The Board of Directors resolved to submit to the Shareholders in ordinary session:
– the approval of the separate financial statements as of 31 December 2025 and the proposal for profit allocation;
– the Report on the policy regarding remuneration and remuneration paid, pursuant to Article 123-ter of Italian Legislative Decree no. 58 of 24 February 1998;
– the adoption of the “2026 Performance Shares Plan” and the “Second Simpson Marine Plan”;
– the authorization to purchase and dispose of treasury shares.
The notice of the Shareholders’ Meeting and all related documents will be made available to the public, in accordance with current provisions, at the Company’s registered office in Via Armezzone 3, Ameglia (SP), in the “Corporate Governance/Shareholders’ Meeting” section of the Company’s website (www.sanlorenzoyacht.com) and on the eMarket Storage mechanism (www.emarketstorage.it).

SANLORENZO GROUP
RECLASSIFIED INCOME STATEMENT AS OF 31 DECEMBER 2025

SANLORENZO GROUP
RECLASSIFIED STATEMENT OF FINANCIAL POSITION AS OF 31 DECEMBER 2025

SANLORENZO GROUP
NET FINANCIAL POSITION AS OF 31 DECEMBER 2025

SANLORENZO GROUP
RECLASSIFIED CONSOLIDATED STATEMENT OF CASH FLOWS AS OF 31 DECEMBER 2025

1 Net Revenues New Yachts are calculated as the algebraic sum of revenues from contracts with customers relating to the sale of new yachts (recognised over time with the “cost-to-cost” method) and pre-owned yachts, net of commissions and trade-in costs of pre- owned boats.
2 EBITDA is calculated by adding amortisation/depreciation expenses to operating profit/loss.
3 Order backlog is calculated as the sum of the value of all orders and sales contracts signed with customers or brand representatives relating to yachts for delivery or delivered in the current financial year or for delivery in subsequent financial years. For each year, the value of the orders and contracts included in backlog refers to the relative share of the residual value from 1 January of the financial year in question until the delivery date. Backlog relating to yachts delivered during the financial year is conventionally cleared on 31 December.
4 These are the criteria originally established by the Board of Directors on 16 March 2021 and confirmed by the Board of Directors on 14 March 2023, as outlined in the Report on corporate governance and ownership structures for the 2024 financial.

Opening image: the Sanlorenzo SX120

(Sanlorenzo Spa: actual results confirm 2025 guidance met at all levels – Barchemagazine.com – March 2026)

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