Sunseeker returns to profit
The UK-based luxury boatbuilder announces a turnaround after a record new model yearSunseeker International Holdings Limited has moved back to profit with a £6million (EBITDA) for the year ending December 31, 2016. This result follows what it says was a defining year for the yard with a record five new models in one year, and a forward order book increase by 41 per cent by volume year-on-year.
The five new models across the size range in 2016 include the Manhattan 52 (opening photo and now the best seller), Predator 68 and larger 95, 116 and 131 Yachts.
Collectively these Sunseekers secured over £220million of orders at retail value to-date, the boatbuilder says.
Sunseeker says the market reaction to its new products has been particularly strong and has helped the business increase revenue by 25 per cent from £202.6million in 2015 to £252.4million, creating a strong platform for future profitable growth.
As well as creating more than 400 new jobs since 2014, the company has announced plans to recruit a further 170 people in 2017 to support further volume growth.
Phil Popham, CEO of Sunseeker, says it has been a remarkable turnaround in such a short space of time.
"Much of this can be attributed to our strategy to continually invest across the key areas of the business, especially our products.
"New and exciting products breed growth in this market and the response we have had for our latest models has been nothing short of incredible.
"We are confident this is going to continue too as we will be investing a further £50 million across the business to support a bold product plan that will see many more new introductions over the next few years."
The majority owner of Sunseeker, the Chinese Wanda Group, has funded the Britain’s largest boat builder of luxury performance superyachts. Several new model will be introduced over the next five years.
Thus far in 2017, Sunseeker has launched two new models: the Manhattan 66 and 68 Sport Yacht, which were revealed at the London Boat show in January, and further introductions are planned for later in the year.
More at Sunseeker Motor Yachts.
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