Boats in demand

Hanse Yachts reports incoming orders in Q1 2020/21 increase by 85 percent from the previous year.

19 November 2020

Advertisement

HanseYachts is enjoying a high demand for boats, as the world’s second largest producer of sailing yachts registered incoming orders in the amount of €62.0 million in the first quarter of the 2020/21 fiscal year.

Compared to the previous year’s amount of €33.6 million, this equates to an increase of 85 percent. Between July and September 2020, 264 Hanse Group boats were ordered, compared to 158 in Q1 2019/20. This trend can be seen in all the group’s brands and also includes more than 50 powerboats, a segment which has temporarily been under some pressure during the previous business year.

“These numbers indicate back orders from customers whose purchase has now been caught up with, as they could not buy during the lockdown. However, we also notice a clear increase of new and first-time customers,” said Dr. Jens Gerhardt, CEO of HanseYachts AG.

“The boat building industry has registered a boost in demand, and therefore has seen in increase in profits during the pandemic. Cancelled cruises and long- distance travels currently leave our customers with more funds to spend on nice boats.”

 

Advertisement

Until recently, Hanse Yachts had to struggle with the effects of the lockdown. In late March, the company reported the highest Q1 order backlog in the history of HanseYachts.

There was, however, also a variety of negative effects: between March and May 2020, when most ports were closed, Hanse Group’s sales channels could not make any sales. There were long delays in deliveries and higher costs.

The result was a financial result reduced of €7.1 million for the fiscal year 2019/20 in comparison to the previous fiscal year.

“At the moment, none of us can know what the pandemic will bring. If we can continue our work as we have done so far, HanseYachts AG will emerge from the crisis stronger than before.

We would then have converted old loans with different interest rates into stocks, and instead will service new loans with a current interest rate. We will roll up our sleeves and work on their clearance, so that all guarantees can be returned promptly”, says Dr. Gerhardt.

 

teamwindcraft.com

  • Advertisement

  • Advertisement

  • Advertisement