Hanse Yachts: Lower results despite higher turnover
The German yachting specialist Hanse Yachts, which includes the Hanse, Dehler, Moody, Privilège Marine, Fjord and Sealine brands, announced its results for the first quarter of 2019/2020. The first part of the fiscal year ended with a 5% increase in sales, reaching 26.3 million euros. EBITDA for the period came to 2.6 million euros and consolidated losses at 30 September 2019 to 4.4 million euros.
Anticipated situation following the purchase of Privilège Marine
The management of the Hanse Group considers these figures to be in line with its expectations. It justifies them by the seasonality of the yachting and pleasure boating industry, involving significant marketing and operating costs in the first quarter, while orders come in later in the financial year. Finally, the costs incurred for the integration of the French multihull builder Privilège Catamarans following its takeover on 28 June 2019 are weighing on the results, in line with forecasts.
An encouraging order book
The German yachting leader, which claims to be the world's second largest yacht builder and a top ten place in the 30 to 55-foot motorboat segment, looks to the future with confidence. The order book stands at 71.5 Meuros. 71.5 million. All geographical sectors are growing, with the exception of the United Kingdom in the face of the uncertainty surrounding Brexit. Annual profits are nevertheless expected to be down, below 10 million euros, but still positive, following the acquisition costs of Privilège Marine.
