Sanlorenzo S.p.A. (BIT:SL, Financial) was a key focus in the Smallvalue Q3 2024 fund letter, with the fund increasing its position in the luxury yacht manufacturer. Despite a slowdown in new orders, Sanlorenzo has shown strong performance, achieving a 7% increase in revenue and a 10% growth in EBITDA.
"Additionally, I have increased my position in Sanlorenzo S.p.A. (SL), a luxury yacht manufacturer that presents substantial growth potential. Despite experiencing a slowdown in new orders, the company has demonstrated strong performance, achieving a 7% increase in revenue and a 10% growth in EBITDA. Sanlorenzo is also expanding its presence in the Asia-Pacific region, while the recent acquisition of Swan is expected to contribute an additional €12 million in annual EBITDA. In the face of ongoing macroeconomic uncertainties, Sanlorenzo continues to trade at attractive multiples and maintains a zero-debt balance sheet. Furthermore, the company is supported by a top-tier management team with a considerable equity stake in the business, indicating strong alignment with shareholder interests." — Smallvalue, Q3 2024 Fund Letter
Read full letter at gurufocus Smallvalue 2024 Q3 page.
