Strong and Resilient Growth Path
STRONG AND RESILIENT GROWTH PATH
Proven resilience over the cycle
Sustained revenue growth: +9.2% CAGR from 2008 to 2022, +16.4% CAGR since 2015
Stable EBITDA margin throughout the cycle and never a single year of operating loss during the crisis of the nautical sector: 10.3% average EBITDA margin during
2008-2014 period
Stable revenues and increase in operating margins during the Covid-19 pandemic
10.5%
7.0%
5.6%
11.5%
9.1%
8.8%
13.0%
10.5%
9.9%
9.5%
8.8%
13.5%
12.5%
11.6%
231
219
220
222
208
198
196
181
169
158
327
17.6%
16.3%
15.4%
14.5%
741
456
458
586
130
125
107
96
66
71
57
38
23
29
30
17
17
15
17
21
21
29
6
6
9
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
Revenues (€m)
EBITDA (€m)
EBITDA Margin (% of revenues)
Revenues presented as Value of Production according to Italian GAAP until 2015 and Net Revenues New Yachts according to IFRS from 2016 onwards.
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