All articles by Arlene Sloan – Page 17
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NewsDometic expects negative impact on Q1 results
Sweden’s equipment manufacturer Dometic Group warned of a negative impact on demand and financial results in the company’s first quarter, and withdrew the previously proposed dividend for investors
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NewsTemporary closure at Grand Banks Malaysian yard
In compliance with government orders, Grand Banks Yachts has closed its manufacturing operation in Pasif Gudang, Malaysia where it employees 763 workers, for a 14-day period; no material impact expected
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NewsHanse maintains production pace; sold out until June
HanseYachts’ CEO has provided an update on the company’s status for clients, suppliers and shareholders in the wake of the Coronavirus crisis: “We are producing and are able to deliver.”
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NewsMarineMax acquires Boatyard digital platform
Through the acquisition, the US boat retailer is adding ’disruptive technology’ to its digital capability in a bid to transform the customer’s boating experience
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NewsMarineMax to buy back stock at bargain rates
America’s largest boat and yacht retail operation, MarineMax announced approval of a plan to repurchase up to 10 million shares of outstanding stock. The company’s shares are currently trading at $10.52 – near the bottom of its price range over the past year
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NewsSanlorenzo confirms 117% profit gain as production continues
The Italian yacht builder reported profits of €27 million for 2019, a backlog of €500 million and says the company is not yet experiencing a material impact on business operations due to COVID-19
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NewsHanse reports latest financials
Despite a drop in revenues and earnings for the company’s first half which the builder attributed to typical seasonality and one-time integration costs for Privilége Catamarans, German boatbuilder Hanse Yachts said a strong order backlog would provide the company with a profit for the year
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NewsFLIR to sell-off Raymarine
The thermal imaging specialist said it was undertaking a restructuring program and a formal process to evaluate divesture of Raymarine’s non-thermal maritime electronics business – a ‘best in class’ asset
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NewsGarmin earnings sends shares to 12-year high
The electronics maker’s stock price surged yesterday on the company’s report of Q4 and 2019 results which beat Wall Street’s expectations. Revenues for the fourth quarter totalled $1.1 billion, including a 22% rise in marine sales.
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NewsGrand Banks reports 10-year high for order book
Singapore-based boat builder of the Grand Banks and Palm BeachMotor Yacht brands posted a strong first half with a 66% increase in net profit to S$2.0 million (US$1.5m) and a net order book worth S$64 million (US$46m); the company’s Palm Beach GT60 (above) makes its debut at the Miami show ...
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NewsSanlorenzo’s 2019 preliminary results show 39% growth in revenues
Following its IPO in December, Italian yachtbuilder Sanlorenzo posts strong gains in sales and profitability with EBITDA up 73.4% to €66m
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NewsMarine sales outpace consolidated results at Yamaha Motor
Japan’s Yamaha Motor reported a dip in 2019 sales, offset by 2% growth in the company’s Marine business which accounts for 21% of annual revenues
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NewsLippert discusses 2019 results & 2020 outlook
Recent acquisitions in the marine sector are expected to be among the company’s strong performers in 2020
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NewsBeneteau confirms positive outlook for 2020
French boatbuilder Beneteau Group confirmed a positive financial outlook for the Boat Division’s 2019-2020 financial year, based on ‘robust’ trends in European and charter markets
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NewsItaly’s marine trade associations reunite
Members of UCINA and Nautica Italiana agreed to combine their organisations into one body to represent Italy’s boating industry domestically and internationally
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NewsDometic’s 2019 marine sales outpace other segments
Swedish equipment maker Dometic has been downsizing capacity, headcount and SKU’s in a drive to improve efficiency and respond to soft demand in key markets
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NewsBrunswick details full year performance on analyst call
Despite a slight decline in 2019 sales, the industry’s largest company reports strong earnings with solid margin growth, delivering shareholders a tenth consecutive year of EPS gains. CEO David Foulkes tells analysts this afternoon why the company is ’built to win’
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NewsItaly’s ISG yacht group is next up for an IPO
The latest boat industry company to set its sights on a public listing is the Italian Sea Group, with plans to float up to 35% of its share capital on the Italian stock market in the second half of 2020
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NewsBurgess CEO discusses outlook for 2020
Industry authority Jonathan Beckett recently sat down with The Ticker – a show broadcast live on website Yahoo Finance – to share his views on this year’s prospects for his company and the superyacht industry overall
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NewsMarineMax raises earnings guidance based on record Q1 results
America’s largest recreational boat and yacht retailer announced 26% growth for the quarter ending December 31 and has boosted its guidance for full 2020 earnings by 15%. The company’s share price jumped 20% in early trading in response to the news.
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