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
German boatbuilder, HanseYachts AG, has reported results for the first half of the company’s 2020 fiscal year for the period from 1 July through 31 December 2019. Revenues for the period were €49.2 million, down 10% from €54.8 million compared to the same period a year ago.
The company’s statement said results were typical for the seasonality of the business which generates high expenses for boat shows, inventory build-up, model maintenance and new production launches over the Autumn and Winter quarters, with comparatively lower revenues during the period. Higher expenses were also anticipated during the first half due to the operational integration of Privilége Marine, the French catamaran business Hanse acquired last June.
In an investor interview, Hanse CEO Dr. Jens Gerhardt also discussed optimisation projects over the past 18 months, sales from Dusseldorf and….
To continue reading, please see the subscription options below for accessing IBI Premium Content…
You must be a subscriber and signed-in to access this content.
Want to read some premium content, but don’t need unlimited IBI Plus access?
Then go for the IBI Upgrade package which, for the cost of a couple of coffees a week:
Get access to IBI Plus Premium content Subscribe Today
Alternatively REGISTER to receive IBI Daily News & Breaking News alerts for free.