Nautical equipment maker reports 48 per cent increase in revenue

Italian yacht supplier Sanguineti has reported a 48 per cent increase in revenue from 2022 to 2023, with its revenues forecast to triple by 2026.

The firm, founded as an artisanal manufacturer of equipment for superyachts more than 65 years ago, is investing €3.5m in new machinery as it looks to expand its facilities and workforce. Sanguineti’s product portfolio encompasses gangways, multifunctional ladders, tender cranes and deck hatches, hardtops, doors, anchor gear and the Karin and Smeralda director-style chairs.

Following the 2023 acquisition of Sanguineti by Quick Group, the company has seen further unprecedented growth, with a revenue increase of 48 per cent from 2022 to 2023. Its forecast predicts a tripling of revenue from 2022 by 2026.

Sanguineti says it is on track to match that forecast, with revenue growth of 27 per cent from 2023 to 2024 and production across its product ranges already at capacity.

“We are at full capacity in terms of production for 2024 with €6.5m of orders, and we have already sold around 40 per cent of our capacity for 2025,” says Lorenzo Cesari, CEO of Sanguineti. “We are confident that we can fill our 2025 order books in the next three months.”

He adds: “We are also developing provisions to increase capacity. We are surfing the wave of huge demand for Sanguineti products by building new production facilities in Casarza Ligure that offer 6,000 square metres of space, three times the area we currently have.”

The investment in production infrastructure extends to machinery as well. “We are investing around €2.2m in new CNC machinery and waterjet technologies for cutting steel and aluminium,” Cesari adds, “as well as new machines for metal bending and milling, a new paint room with oven, and productive synergies with CATT – mechanical machining company that is also part of the Quick Group. It’s a big investment for us in very modern equipment, and also in our workforce – we expect to increase that by 35 per cent too.”

Sanguineti says it continues to add new product lines, as well as refreshing existing lines to meet a wider range of tastes or to allow for further customisation.

“We are always developing new products following requests from our shipyard customers,” says Cesari. “We have recently delivered pop-up cleats, for example, and we are also now designing and manufacturing incredible multifunctional boarding/swim ladders that are very cool and very luxurious, plus the 2.0 version of our wide range of retractable capstans for powerboats, sailing yachts and superyachts among many other innovations.

“For the Karin and Smeralda chairs (pictured left), we have redesigned them with new colour palettes, distinctive details such as the original tag, embroidered logo on the backrest and seat, new cases, and a new matt-black limited edition.”

Cesari says the company is looking to expand its shipyard synergies across Northern Europe, the US and further afield, capitalising on the wider portfolio of Quick Group brands. “Now being part of the Quick Group, we can increase our synergies among the other companies of the group,” he says. “It means I can talk to customers not only about Sanguineti, but also about Quick Group brands such as Nemo, Quick Spa and Xenta.

“Tapping into the existing Quick Group after-sales network will improve our worldwide presence overall and enables us to offer our customers even better support for repeat orders or if they need after-sales servicing.

“For example, the acquisition of YMS in Fort Lauderdale in January is also a strategic action for Sanguineti, because it’s very important for us to be present there and to offer technical support — we have customers there with 30 or 40-year-old superyachts that still have original Sanguineti products on board!”