Pomati (Nautor Swan): "Revenues will exceed 120 million by 2025, 20 million from services. Size is growing."

Pietarsaari (Finland) – On the sidelines of the press presentation of the first Swan 128, the CEO Giovanni Pomati of Nautor Swan took stock of the market and the shipyard's main trends in recent seasons: "The numbers show us a growing company that will have revenues of over €120 million in 2025, over €20 million of which comes from services. And services were one of the growth strategies when I joined the company. As I often say, we don't sell products, but experiences. The product is a way to spend time at sea with other people who share the same love for the ocean and sailing. And to do that, you need support services to keep boats in good condition or to rent them, and in general to ensure you spend as much time on board as possible. We are a company that also organizes regattas and rendezvous; otherwise, owners would find themselves with their boats but nothing around them. To better understand the work we're doing with Nautor Swan and now also with Sanlorenzo, it's interesting to note how the value of orders has changed: in 2021, 75% were for boats up to 80 feet and 24% for yachts up to 80 feet. from the Swan Maxi range. In 2024, the situation changed: 23% came from boats up to 80 feet and 67% from larger ones. The shipyard is therefore evolving towards larger boats because the market is evolving in that direction. And the forecast for 2025 is for a value divided into one-third by medium-small boats, one-third by Swan Maxis, and one-third by the new lines under development. This is the same evolution seen in the automotive sector 10 years earlier, which moved towards larger and more comfortable vehicles like SUVs.

At the end of the press conference, SUPER YACHT 24 had the opportunity to have an in-depth interview with Giovanni Pomati.

After several months since the purchase of Sanlorenzo, are there already changes in production?

"Everything we were looking for—having an industrial partner that would allow us to better purchase, conduct more research and development, and strengthen our technical department—is moving forward. We have a Sanlorenzo team that spends more than half the month here. Sanlorenzo is a structured company with extensive experience in fiberglass lamination—we're focused on the high-carbon end—but above all, in the industrialization of the production process, thanks to their very different numbers from ours, in supplier management, and in the supply chain."

What developments do you hope for in the production chain?

"An important change will be to keep the production chain running smoothly. We've always produced to order, and with Sanlorenzo, we'll continue to do so, but we'll try to bring production forward. Regarding customization, a crucial asset for us, nothing will change: having the hull already laminated when the order arrives will allow us to reduce delivery times, a significant strength. The other important aspect is that new product development is crucial for Sanlorenzo, and Nautor Swan is investing heavily in this activity, which is stimulating."

You explained that the Swan 128 isn't the largest superyacht you've ever built, but it is in terms of volume and habitability. What was its genesis?

“More than twenty years ago, Nautor built the 131-footer, which still represents our longest boat today. It wasn't a one-off; only one was built. It had a classic style, similar to that of the 112—of which four were built—with a large, recognizable deckhouse. In 2019-2020, the 120 arrived, a milestone, especially for its interiors, which opened the doors to the superyacht world for the shipyard. The story goes that during the Monaco Yacht Show, the owner of one of our Swan 98s saw the 120, fell in love with the space, and asked for an upgrade: he wanted a production yacht over 120 feet but with the lines of the 108, which in the meantime had become the forerunner of the most recent generation of maxi yachts, with new hull lines also designed by Germán Frers. The rest of the team consisted of Lucio Micheletti for the deck style, Misa Poggi for the interiors, and Odo Giordo in the role of owner's representative thanks to his long experience in the superyacht world".

Number two is also under construction.

"Yes, a year later, a second contract arrived from the development of an even larger project we were working on. This 128 isn't the end of the line. At the Pietarsaari shipyard, we can produce up to about 150 feet, and we're convinced that a boat longer than the 128, around 140 feet, still makes sense to build in composite, and we have the facilities and experience to do so. Nautor Swan is a unique shipyard in the world that offers excellence in composites and, soon, in aluminum as well."

You talked about growth and the new Blue Water line. How many models will it include?

"There will be three of them, and we'll start with a 24-meter vessel, a frontier vessel for navigating certain waters, obtaining certain certifications, and where it will be easier to add certain features. We know full well that the bulk of the market is for smaller vessels, around 65 feet, where it will be a challenge to incorporate those features, but we'll get there. The third model will be around 100 feet."

He gave the example of the new, enclosed and protected Imoca 60s on the world tour. What kind of comfort do you imagine?

I'd like it to be possible for cruising to not have to be out on the water or get burned in the sun on longer voyages. This is where the concept for this range, called the SwanScape project, comes from. They'll be boats where you can stay inside without the worry of being below deck with the problems of having to monitor the radar, not knowing exactly what's going on, keeping a man on watch outside, and so on. Why would I do that? The world is evolving, and so must we. And just because I have a deckhouse doesn't mean I can't also have a high-performance hull. We're the kings of flush decks. The 128 is gorgeous, but I also have to consider that there are owners who are looking for comfort. Otherwise, we'll always be focused on a niche, and instead we'll have to go after them all.

Let's talk about the Swan Alloy range, why will the first hulls be built in Holland?

"In Holland, there are excellent shipyards that produce for third parties, with 150 years of history, and they only do that work. Sanlorenzo produces excellent aluminum boats, but they're motorboats and require different weight control than a sailing boat. So, to get off to a better and faster start, reducing the chance of making mistakes, we decided to go to Holland and then return to Italy."

Is there anything new about the engine?

We're planning a relaunch of the engine line, leveraging Sanlorenzo's experience. Engines will remain a small niche, that of chase boats, and without overlapping with the group's existing offerings. We have a maximum target of 10% of revenue, but we firmly believe in it, and Sanlorenzo does too.

How is the expansion project in the United States going, announced at the last Düsseldorf motor show?

"We're currently producing the ClubSwan 28 for the American market in Italy. Production will then be transferred to the US, and we'll launch the circuit in 2026. This will be just the first step. There are others: building the smaller Bluegame models between 50 and 60 feet, using technologies developed by American Magic, selling boats, and generally promoting sailing in America, where even in years without a crisis, the market has been weak and has stalled earlier than in other regions. On the other hand, there's a significant history there. We believe the foundations are there to do well, and this explains the investment we're making."

What did you learn from the first Swan 88 hybrid? 

"It's not just greener propulsion, the boat is much quieter: even when sailing with the generators running to recharge the batteries and have a wider range, the noise is less than that of the combustion engine. And then there's less vibration, which is essential for comfort; research into this has always been an important activity for us. We've also discovered that by working well with the energy management system, i.e., using the electric motor when sailing, we generate a lot of completely green energy. And the second 128 will be a hybrid, with a system developed in collaboration with Danfoss."

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