Sunseeker Yacht Holdings (“Sunseeker”) one of the world’s pre-eminent luxury motor yacht manufacturers announces strong results for the financial year ending 31 July 2011*.
Financial highlights:
• EBITDA increased to £25.5m on sales of £275.5m (2010 equivalent: £4.9m and £304.5m respectively)
• Continued growth in newer yachting markets such as Asia, Russia and Brazil complemented traditional markets in Europe and the US. Asia now accounts for over 20% of sales, compared to less than 5% three years ago
• Strong balance sheet with robust cash generation enabling Sunseeker to report a net cash position of £6m at year end
• Contracted, deposited sales for 2012 ahead of last year – before the traditional boat show season commences. Sunseeker had no un-sold finished goods stock at year end
• Sunseeker has confirmed its position as a pre-eminent player in the large yacht segment with 90 boats over 90 feet delivered in the last five years
• Sunseeker expects to achieve further financial and operating improvements in 2012 based on its strong order book and continuing delivery on its operating efficiency programmes.
Yacht Jelana - a Sunseeker 40m
Innovation and Investment
The strong financial performance has been driven by Sunseeker’s commitment to innovation and investment throughout the global economic downturn; it has invested more than £50m in its business in the last five years. Sunseeker will be launching the latest addition to its range – the class-leading 53 Manhattan – at the 2011 Cannes and Southampton Boat Shows, while its ground-breaking 28 Metre Yacht will be launched at the London International Boat Show in early January 2012.
Sunseeker continues to increase its pace of development – in the last 12 months it has launched the new Manhattan 63 motor yacht, the Manhattan 73, the Predator 115 and the 40 Metre / 132ft yacht, Sunseeker’s largest superyacht to date. Sunseeker first entered the superyacht market with the 105ft yacht a decade ago, giving it enormous expertise in this segment of the luxury yacht market; the company is currently in the advanced development of a new 155ft yacht to extend its range further.
Second Predator 115 motor yacht Never Say Never by Sunseeker - Credit Sunseeker Yachts
Sunseeker will continue to exploit both its existing and emerging, high- growth markets with a full range of luxury motor yachts from its entry level 40ft (due to launch Q2 2012) to the new 155ft superyacht, all sold under the iconic Sunseeker brand.
Global Business
As the company produces larger yachts that boast ever greater luxury and performance, it can claim a title many of its competitors cannot – “Truly Global”. Sunseeker exports its craft across the world; all of the yachts manufactured in its Poole and Portland factories in Dorset, UK are exported, with dedicated dealerships in over 60 countries across five continents.
Sunseeker importantly recognises the interests of customers in different markets, as evidenced by the recent award for “Best Brand” at the Hainan Show in China.
Stewart McIntyre, Managing Director, commented:
“This has been a fantastic year for Sunseeker. The yachts are more valued than ever and our product range, our balance sheet and our distribution network have all combined to produce very strong financial results, which we are highly confident we will continue to improve upon in the next twelve months.
Our order book is in great shape and our new product development remain best in class, while the Sunseeker name remains the aspirational luxury motor yachting brand globally. We have built a great team of people both in Poole and worldwide, and have the infrastructure and the capital to achieve our ambitious goals for the business.”
About Sunseeker
Sunseeker Yacht Holdings is the Irish-registered parent company of Sunseeker International Limited. It was acquired in a transaction led by FL Partners (an Irish investment firm set up by Peter Crowley and Neill Hughes) in June 2010.
Originally importers and distributors of boats from Scandinavia and the USA, Poole Power Boats (as Sunseeker was then known) started moulding and fitting out their own boats in the early 1970s. It is now an industry-leading iconic marine brand renowned for innovation, quality and luxury. Based in Poole, Dorset, Sunseeker employs over 2,300 people globally and celebrated its 50th anniversary last year.
Sunseeker has achieved international recognition for incorporating the highest possible standards of environmental performance and energy efficiency, with RINA awarding its Green Plus Yacht Gold standard to the company for its range of boats up to and including the Predator 84.
*The 2011 results are subject to audit.
Superyacht image galley of sunseeker superyachts
GOSSIP - Twin Cabin
Yacht CASSIOPEIA - On Charter
Sunseeker Yacht PHOEBE TRES - Foredeck
Yacht LARA SOFIA - Guest Ensuite
VOGUE OF BEAULIEU - Galley
Yacht LADY T - Master Cabin
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