Sanlorenzo Plans U.S. Shipyard Acquisition to Dodge 15% Tariff, Boost Margins
NVDA•Sanlorenzo SpA is in exploratory talks to acquire a U.S. shipbuilder to bypass a 15% import tariff, leveraging its zero net debt and €1.3 billion market cap. The firm delivered €960.4 million in new-yacht revenues last year, saw Americas sales jump 35.5% to €198.8 million and Q1 orders up 25.4%.
1. Tariff-Driven Acquisition Talks
Chief Executive Massimo Perotti has initiated exploratory discussions to acquire a U.S. shipyard, aiming to localize production and eliminate a 15% import tariff on vessels shipped from Europe to the U.S. This move is designed to protect the company’s strict 19% EBITDA margin target under its 2028 business plan by insulating profits from long-term trade barriers.
2. Strong Balance Sheet and Valuation
The Milan-listed yacht builder carries zero net debt and boasts a market capitalization of approximately €1.3 billion, providing ample financial flexibility to fund an overseas acquisition. Its flawless balance sheet underpins strategic growth initiatives and enhances investor confidence in its ability to execute cross-border deals.
3. Robust Revenue and Order Growth
In the last fiscal year, Sanlorenzo generated €960.4 million in new-yacht revenues, with Americas sales surging 35.5% to €198.8 million. Momentum continued into 2026, as first-quarter new order intake climbed 25.4%, driven by demand for its bespoke vessels priced at an average of €12.5 million each.
