HANSEYACHTS AG HanseYachts AG
FY 2020/21 EARNINGS CALL
October 18, 2021
Record level of new orders in 2020/2021
Record order intake for sailing and motor yachts and catamarans: EUR 234.8 million (+94% from Q4 2019/2020). Slot planning until year 2023.
Revenues and EBITDA lower due to coronavirus pandemic
Supply chain disruption resulting from the coronavirus pandemic led to lower productivity
Material cost on same level as prior year despite price increases due to optimization projects
Very secure liquidity position
Main shareholder made capital increase of Eur 11,8 Mio in January 2021 by debt equity swap of all interest and noninterest bearing
liabilities. (Cash capital increase of Eur 1,5 Mio for all shareholders already in December 2020)
H a n s e Y a c h t s AG | 2 |
Management Statement for 2020/21
KEY FIGURES TABLE | 01.07.2020- 01.07.2019- 01.07.2018- 01.07.2017- | |||
30.06.2021 | 30.06.2020 | 30.06.2019 | 30.06.2018 | |
EUR million | 1) | |||
Turnover | 120,8 | 128,4 | 152,0 | 140,3 |
Cost of materials in % of total | 54% | 54% | 56% | 57% |
output | ||||
EBITDA | -2,3 | 3,8 | 10,9 | 5,0 |
Order intake | 234,8 | 120,9 | 120,3 | 142,7 |
- 2019/20: including initial consolidation of Privilège Marine SAS
- Order intake of more than 1.000 boats with a volume of 234,8 mEUR (+up by 94%). Production slot planning for some type of ships reach until year 2023.
- Digital web-based marketing successful
- Revenues in 2020/2021 EUR 120,8 million; lower than the year-ago level due to the coronavirus pandemic incl. 2 months short- time work (Kurzarbeit)
- Very safe liquidity situation due to:
- Positive cash flow from operating activities in the amount of EUR 8.7 million, as compared to EUR 3.7 million in prior year because high number of new orders led to higher customer-downpayments which overruled lower EBITDA
- Fresh liquidity from banks in September 2020
H a n s e Y a c h t s AG | 3 |
Current Trading
Profit and loss statement FY 2020/21 in EUR million
01.07.2019- | 01.07.2020- | |
in MEUR | 30.06.2020 | 30.06.2021 |
Turnover | 128,4 | 120,8 |
Work in progress | 9,1 | 0,2 |
Capitalized costs | 2,6 | 1,9 |
Operating performance | 140,1 | 122,9 |
Other income | 4,1 | 3,2 |
Cost of material | -75,7 | -66,4 |
Cost of material in % | -54% | -54% |
Labor costs | -43,0 | -42,3 |
Labor costs in % | -31% | -34% |
Other expenses | -21,7 | -19,7 |
EBITDA | 3,8 | -2,3 |
Depreciation | -18,2 | -5,8 |
EBIT | -14,4 | -8,2 |
Financial result | -1,3 | -1,3 |
EBT | -15,7 | -9,4 |
Taxes | -0,2 | 0,4 |
Profit/Loss | -15,9 | -9,0 |
- Turnover lower due to coronavirus pandemic, only 9 months of production
- Decline in operating performance as a result of lower new orders in spring / summer 2020 which led to production freeze in Aug/Sep 2020
- Global supply chain disruption resulting from the coronavirus pandemic hit HanseYachts AG and leads to lower productivity since January 2021
- Labor cost ratio in % increased due to lower operating performance; no reduction of well skilled employees in order to be able to speed up production as soon as corona makes it possible
- Improvement in other expenses due to lack of trade fair costs
HanseYachts AG | 4 |
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HanseYachts AG published this content on 19 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 October 2021 09:31:02 UTC.
