No China: Sanlorenzo again 100% Italian

The Chairman of the Board of Directors and CEO of Sanlorenzo , Massimo Perotti
(Massimo Perotti) repurchased shares, which in recent years actively purchased by third party companies.

Thus, holding Family Life, owned by Perotti and his two sons, now owns 96% of the shares. The remaining 4% — for the guidance of Sanlorenzo.

“We were able to complete this operation for the restructuring of capital, because it is completely out of the economic crisis and are reaping the fruits of our hard work. We are again 100% Italian company,” said Perotti Il Sole 24 Ore.

Note that this thing gradually went. So, in July of last year, Perotti got 16% of the shares of Fondo Italiano d Investimento, which was sold to a venture-capital group in 2010 in connection with the raging financial crisis. Then, shortly before Christmas break, he took a 23% stake, acquired in 2013 company of China Sundiro Holding — just at the peak of its collaboration with Sanlorenzo development of the potential of the Chinese market of small boats.

“We needed to increase working capital in a crisis situation. Under the agreement with our partners, we have pledged to take part in the construction of boats up to 20 meters in China. Now the situation has changed: boat boom in the region did not happen, and Sundiro there are problems with liquidity, but because the holding company took money — so they offered me to buy out their shares,” said Perotti Italian daily newspaper La Stampa.

The fact of the concentration 100% of the shares in their hands allows Massimo Perotti to speak of a “third phase” in the life of Sanlorenzo after he purchased the shipyard in 2005.

The shipbuilder has experienced a period of rapid growth (the first phase), but in 2008, the yacht market collapsed. During the second phase, Sanlorenzo was able to do a little blood, maintaining the usual level of production and avoiding layoffs. Now she is entering the third phase with new plans — investment and expansion.

“We have recorded an increase in turnover from €300 million in 2017 to €380 million in the past. Assume that in 2019 we will increase approximately by 20% to €460 million. Most importantly, we have formed a portfolio of orders worth €500 million in the period until 2020”, — optimistically says Perotti.

The management of the shipyard hopes to organize a new production line together with the yard Blue Game, purchased last year, and releasing a series of boats under the name Sanlorenzo Sport. Top management Sanlorenzo received reinforcements in the person of Carla Demaria (Carla Demaria). Demaria in November of 2018 left the position of Executive Director of Monte Carlo Yachts because of misunderstandings with the management of Groupe Beneteau. How to build interaction — clear yet.

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