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Hanse Yachts reports 1Q results - Trade Only Today

Hanse Yachts reports 1Q results

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Hanse Yachts AG said it ended the first quarter of its new fiscal year with continued growth as North America and Asia were key markets driving the increases.

Incoming orders in the quarter, which ended Sept. 30, increased by 9 percent from the already record level for the same period last year with a volume of 29.9 million euros, the company said in a statement.

In September alone, orders increased 33 percent compared with the same period in the previous year, Hanse said.

The company said key drivers for the growth were North America and Asia. Despite the crisis in the Ukraine, Russian sanctions and the conflicts in Syria and Iraq, the “sales situation” in Europe and the Middle East has remained stable, the company said. In Italy, Greece and Spain, the company said it has seen a slight upturn in the water sports market.

In the first quarter Hanse achieved a total output of 17.8 million euros, which the company said puts it at the same level as the previous year.

Other operating revenue, totaling 400,000 euros, was significantly below the previous year, although revenue for the prior year includes the sale of a property that was not essential to operations and was worth 1.4 million euros, the company said.

Because of a launch into the motorboat market and an associated planned start-up phase, material costs amount to 66 percent in relation to overall output and are slightly higher than 63 percent in the previous year.

Gross yield in the first quarter fell by 500,000 euros, compared with the same period the previous year, to 6.1 million euros.

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