Andrea Frabetti says the UK builder will double its current range to 22 models
Following on from IBI’s report last week, Sunseeker’s new CEO, Andrea Frabetti, has confirmed that the UK builder’s current range will double in size to 22 models over the next three years.
Aided by a £50m CAPEX investment across five years, the company will also focus on further developing the framework for the business and driving the Sunseeker brand forward.
“These new models will include new product segments as well as improved differentiation between various lines,” says Frabetti in a statement. “To enable this, we are actively developing our existing footprint as well as seeking new facilities and partnership opportunities.
“Most importantly, our 2,500 colleagues across the business remain intrinsic to our future success; retaining and further enhancing the quality that they deliver with such passion daily will remain key.”
Sunseeker anticipates positive financial results for the 2018 year. In the statement, CFO Mike McMillan says: ”Sunseeker’s Group revenue continues to rise but much more importantly, gross profit has increased by over a third due to a significant improvement in gross margins and consequently there has been substantial growth in retained profits.
“Most encouraging is the progression of our underlying business results, which is encouraging and a credit to the Sunseeker team.”
Sunseeker is currently working with ICON Yachts of the Netherlands on the construction of its 49m flagship Sunseeker 161 at ICON’s yard in Harlingen – a partnership that was formed last year. The first model is due to be delivered in 2021.