http://www.ibi-plus.com International Boat Industry | DECEMBER 2015 21
Markets & Regions
UK | BOATBUILDERS
T
he UK continues to play a significant role in
the boatbuilding sector, with a number of
global brands such as Sunseeker, Princess,
Oyster and Pendennis, as well as a number of
accomplished refit centres.
The number one slot is held by Plymouth-based
Princess Yachts, which turned over £239.6 million
for the year ending December 2014, but reported a
loss of £11.3 million. Princess has a large portfolio
of motoryachts from 43ft -131ft,
including the popular M-Class
range of semi-custom superyachts,
and had been in profit by £4.3
million in 2013 on a similar
turnover. However, it suffered
significant damage to its facilities
and stock during a violent storm
in February 2014, although the
yard was subsequently still able
to meet every order. CEO Chris
Gates reports a strong order book in 2015 from both
the Southampton and Cannes Boat shows, and is
introducing no less than six new models following ‘a
major programme of investment that will set a new
standard for the industry.”
Poole-based Sunseeker, the seaside town’s main
employer, has blamed ‘economic headwinds’ along
with ‘restructuring and non-recurring warranty
works’ for a total loss of £49 million in 2014. However,
the company has been at pains to increase its sales by
strengthening its dealer network, particularly in the
US, where it has recently appointed Strong’s Marine
and Rick Obey and Associates to extend it’s East Coast
presence. “Sunseeker has a clear business plan to
invest in long term growth and sustainable success,”
Investing in growth
DESPITE LOSSES UK BOATBUILDERS HAVE INVESTED IN MODEL DEVELOPMENT AND DISTRIBUTION
NETWORK EXPANSION TO REMAIN COMPETITIVE IN WHAT REMAINS A CHALLENGING MARKETWORDS: JAKE KAVANAGHnoted CEO Phil Popham in a statement for IBI. “We
recently revealed strong key sales figures for 2015
to date. As at end of August, the order book for 2016
was up 70% year-on-year (by turnover), including a
143% year-on-year increase for larger models (90ft
and above).”
The company has also spent the last two years
streamlining production with lean manufacturing
practices, which regrettably led to some
400 redundancies in
the 2,200 workforce.
In a roll call of the top UK
boatbuilders no review would be
complete without Midlands-based
Fairline, historically referred to
as one of the ‘big three’. However,
on the eve of going to press it
was announced that, following
the builder’s sale to investment
company Wessex Bristol in
September, it had called in the administrators,
putting 450 jobs at risk.
The Oundle-based motoryacht
builder had been struggling since
2008 and had gone through five
different CEOs in as many years.
Turnaround specialists KSA were
brought in by Wessex Bristol in
November to help restructure its
debt so it could move forward
with a sensible and manageable
cost base, but it seems time ran
out. Administrators FRP said: “It
is anticipated that there will be
redundancies in the near termSPrincess is
introducing no less
than six new models
following ‘a major
programme of
investment’TSunseeker’s 115
in build at PooleSunseeker
has revealed
strong key sales figures
for 2015. As at end of
August, the order book
for 2016 was
up 70% y-o-y