Sanlorenzo H1 orders rise 18.3% as EUR 1.5bn backlog reshapes buyer timing

Sanlorenzo released its first-half 2026 results on 3 September. For yacht buyers, the most useful signal is not simply revenue growth, but the order book behind it. The group reported EUR 496.4 million of order intake, up 18.3% year on year, and an order backlog of EUR 1.4989 billion at 30 June. Sanlorenzo said 89% of that backlog related to orders sold to final clients.

Net revenue from new yachts reached EUR 471.3 million, up 3.8% from the first half of 2025. EBITDA rose to EUR 83.5 million with a 17.7% margin, while group net profit increased to EUR 49.1 million. The company also confirmed its 2026 guidance, including EUR 980 million to EUR 1.02 billion of net revenue from new yachts and EUR 180 million to EUR 192 million of EBITDA.

Superyachts Are Carrying More Of The Growth

The divisional split matters. Sanlorenzo’s Superyacht Division increased revenue by 12.4% to EUR 154.1 million and accounted for 32.7% of net revenue from new yachts. The Yacht Division grew by 3.1% to EUR 232.8 million. Bluegame was broadly stable at EUR 43.6 million, while Nautor Swan declined by 13.9% to EUR 40.9 million as integration and product work continued.

The geographic picture also changed. Europe remained the largest region, but revenue there fell 16.6% year on year. The Americas rose 35.4%, APAC 35.8% and the Middle East and Africa 22.7%. A European buyer should therefore be careful about reading local caution as global weakness. In some segments, slot pressure may be coming from outside Europe.

Backlog Helps The Yard, But It Also Limits Buyers

Of the EUR 1.4989 billion backlog, EUR 831.7 million related to 2026. Sanlorenzo says that covers 83% of the midpoint of its full-year new-yacht revenue guidance. That gives the yard visibility, but it also tells buyers that desirable delivery windows, sea-trial timing and specification changes may not be easy to negotiate.

The practical question is whether a buyer needs a new-build slot or a documented ready yacht. Our note on motor-yacht fuel consumption and range explains why the right yacht is still an operating equation, not just a brand decision. A broker from W Yachts should test the production date against crew, berth, usage pattern and resale logic before a deposit is paid.