International Marine News HEADLINES
ibinews.com International Boat Industry | AUGUST–SEPTEMBER 2019 7
Sunseeker reports solid
growth in profitability
UKSunseeker
International hasreported
substantial growth in gross
margins and retained profit
for the year ended December
31, 2018. Profits grew from
£1.1m in 2017 to £6.6m in
2018, an increase of £5.5m.
Pure boat operations –
excluding other operating
income – increased by
almost £10m year-on-year.
Underlying EBITDA was
over £13m for 2018, more
than doubling the £5.9m of
EBITDA recorded in 2017.
Overall group (Sunseeker
International Holdings Ltd)
revenue was £299.8m in 2018,
with gross margins increasing
by 39% (£9.8m) from £25.5m in
2017 to £35.3m in 2018.
“To oversee a 39% increase
in our underlying gross margin
is testament to Sunseeker’s
focus on the quality of business,
and not simply revenue
growth,” says Sunseeker CFO
S Moonen was building a sister
ship to the 36mBrigadoon
New investor, new era
for Moonen Yachts?
NETHERLANDS Moonen
Yachts says it has a new
investor to replace Mexican
steelmaker Altos Hornos de
Mexico (AHMSA), whose
financial downfall plunged
the Dutch superyacht-maker
into bankruptcy on July 11.
“At this moment we are close
to entering a new era,” Moonen
Yachts CEO Johan Dubbelman
said in a statement. “A new
investor has been found [and it
is] to be expected final decisions
will be taken within the next
few weeks,” he added.
Dubbelman did not
identify the new investor. IBI
understands he is talking with
an Australian investor.
Dubbelman expressed
confidence the new investor
would boost production of
Moonen’s steel yachts from
30m-50m. The yard aims to
spec-build at least two to three
yachts per year to shorten
delivery times.AHMSA’s troubled finances
are not new. In 2015, it briefly
denied funds to Moonen when
world steel prices tanked.
AHMSA’s accounts were frozen
last May when its chairman,
Alonso Ancira Elizondo, was
arrested in Spain on bribery
charges.
In recent years, Moonen
has delivered several yachts,
including the 36m Brigadoon.
When it went under, Moonen
was building a sister ship due
for launch next spring.
Moonen was founded in- Since 1999 it has built
some two dozen superyachts.
EUROPE
Mike McMillan. “We have
worked hard to provide an
exciting product range for our
customers that can deliver
increased levels of profitability,
to fund further innovation and
product development.”
Andrea Frabetti, Sunseeker
CEO, says he is “extremely
happy” with the group’s
performance in 2018. “Looking
ahead, we will further develop
the framework for the business
and drive the Sunseeker
brand forward to even greater
success, aided by a £50m
CAPEX investment in R&D,
new products, innovation
and technology over the next
five years,” he says. “This
investment means our product
development plan will see a
doubling of the product range
to 22 models over the next
three years.
“The response we have had
for our latest models has been
incredible,” Frabetti adds. “Ourfuture models will include
new product segments, as well
as improved differentiation
between various lines, all of
which will help us to continue
to grow profitably.”
Meanwhile, the UK-based
Sunseeker London Group – the
world’s largest distributor of
Sunseeker yachts – recently
announced that it had sold
three 100ft-plus yachts with a
retail value of over £50m in the
month of July.
Two Sunseeker 131 yachts
and a 116 have been delivered
to their Mediterranean
destinations and are available
for charter for the remainder of
the season.SSunseeker’s 116 Yacht, Mr K[email protected] http://www.imci.org. r
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