Hanse Yachts AG expands its portfolio with new motor boat brand
Wednesday, June 30, 2021 9:52 AM
Greifswald, Germany, 30 June 2021: For the first time in the company history, HanseYachts AG’s incoming orders have exceeded the 1,000 boat mark. The 2020/2021 financial year ended on 30 June and was exceptional for the company in all respects. Sales of HanseYachts AG products developed particularly positively. The consumer demand for an own boat as a safe option for a relaxed holiday is very high in general. As industry leader in digitalization, HanseYachts benefits particularly strongly from this development.
As customers were unable to visit trade shows worldwide, HanseYachts’s brands are presented sufficiently in high detail digitally to that purchasing decisions can be made in front of the computer screens. This resulted in an order intake that, after deduction of the dealer margin, reached a revenue of over EUR 230 million and included more than 1,000 boats for the first time. This value also surpassed the boom year 2007/2008, when 940 boats were ordered at a significantly lower value.
Effects on the earnings forecast due to delivery delays
The impact of the Covid-19 pandemic on production continued in the fourth quarter of the 2020/2021 financial year. After Corona-related production delays between November 2020 and March 2021, problems in the supply chains affected the completion of boats from April 2021 onwards. Suppliers throughout Europe temporarily lacked raw materials to produce stainless steel products and electronic components, as well as upholstery and toilets. Since April, HanseYachts AG has therefore been storing between 45 and 65 boats already gone through production, which are 99% complete. However, the lack of only a few components at a time leads to a delay in the delivery of these boats.
The Executive Boards would like to take this opportunity to thank the employees and customers for their patience in this situation. 45 to 65 boats represent a calculated value of EUR 10 to 15 million. After the delivery of the parts still necessary for completion, the boats are ready for delivery in the short term and can then flow into the accounts in terms of turnover and profit. As not enough parts have been delivered in time to date to allow completion by the end of the financial year on 30 June, however, the completion of these boats will have to be postponed to the new financial year 2021/2022. Accordingly, the EBITDA forecast for the 2020/2021 financial year had to be adjusted from “lower than previous year” to “negative in the low single-digit millions”. All other forecasts for the 2020/2021 remain unchanged. The forecast for the new 2021/2022 business year will be published with the 2020/2021 annual and consolidated financial statements on 27 October 2021.
Seventh corporate group brand for innovative motorboats with outboard engines
In order to be able to achieve the medium-term goal of increasing revenue to EUR 200 million with an EBITDA margin of 10%, HanseYachts AG has announced the next expansion step for the 2021/2022 financial year: the establishment of a seventh Group brand. This new brand will bring innovative motorboats in the 24 to 39 foot range and with outboard engines to the market. These boats will be elegantly appointed and set new standards in sleeping, bathrooms and driving characteristics. The worldwide releases and the accompanying global marketing are planned for the first quarter of the new financial year 2021/2022.
Planned expansion of production capacities in Poland
In order to provide the necessary production capacities for the targeted growth and also for the new brand in particular, HanseYachts has acquired another plot of land in Poland, which is directly adjacent to the company’s own shipyard property. The purchase of this additional piece of land took place simultaneously to the preparations for the development of the new brand. The new property comprises 27,500 square metres, increasind the area of the Polish shipyard by 40%. This increases the calculated capacity by up to 250 boats.