HanseYachts AG Announces Earnings Results for the Third Quarter and Nine Months Ended March 31, 2018; Provides Earnings Guidance for the Year Ending June 30, 2018 and Full Fiscal Year 2019
For the nine months, total output (sales revenue, change in inventory, own work capitalised) increased by 9.6% to EUR 98.4 million (comparable prior-year period: EUR 89.8 million). Other operating income of EUR 1.9 million is significantly below the prior-year period of EUR 3.2 million, since the previous year included the extraordinary income of EUR 2.2 million from the write-up of the "Fjord" brand. EBITDA declined in the nine-month reporting period from EUR 4.6 million in the previous year to minus EUR 0.4 million in the current reporting period. The financial loss remained unchanged at EUR 1.3 million, most of which is the planned interest payments of the 8% 2014/2019 bond. After income tax, consolidated net income amounted to minus EUR 5.9 million (previous year period: minus EUR 1.0 million). Revenue was EUR 85.2 million against EUR 80.2 million a year ago.
The company expects it will report a consolidated net loss as of 30 June 2018.
The management board assumes that the subsequent 2018/2019 financial year that begins 1 July 2018 will again show positive consolidated net income with moderate revenue growth.