HanseYachts AG reported consolidated earnings results for the first quarter ended September 2018. The company generated consolidated turnover of EUR 25 million in the first quarter (July to September 2018) against EUR 23.3 million last year. This is the equivalent of an increase in turnover of 8 % compared to the same period last year. The consolidated net result generated in the first quarter therefore amounted to negative EUR 3.5 million against negative EUR 3.1 million last year. The net loss corresponds to the seasonality of its business and is therefore well within its plan for the current financial year.

The company also provided earnings outlook for the full year ending on June 30, 2019. The company is expecting a significant increase in results compared to the previous year. This expectation is based both on the impressive volume of orders as well as on the positive resonance from boat shows. In addition, a reduction in the cost of materials which was initiated in fiscal year 2018, as well as improvements in efficiency in production processes and effects from price increases in the first half of calendar year 2018 have yielded visibly positive results. The management board expects a positive consolidated net result for the Group in the single-digit million range.