(Alliance News) - Sanlorenzo Spa reported Monday that it closed the first quarter with a group profit of EUR19.7 million, up 14 percent from EUR17.2 million in the first three months of 2023.

Net revenues from the sale of new yachts amounted to EUR194.8 million, up 6.0% from EUR183.7 million as of March 31, 2023.

Ebitda is EUR34.1 million, up 9.5% from EUR31.2 million in the first quarter of the year.

Ebit increased to EUR25.7 million from EUR24.2 million in the same period.

Net cash position is EUR73.7 million from EUR108.1 million as of March 31, 2023.

Gross backlog is EUR1.21 billion of which EUR648.6 million refers to 2024 and EUR561.3 million for subsequent years.

Order intake for the first quarter was EUR168.2 million, in line with EUR170 million in the first quarter a year earlier.

The company also confirmed its 2024 guidance, which forecasts sustainable growth in key financial indicators over time, with net new revenues expected to be covered 72 percent by the 2024 portion of the current order intake.

Sanlorenzo's stock is up 2.7 percent at EUR44.55 per share.

By Chiara Bruschi, Alliance News reporter

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