DGAP-Media / 19.04.2018 / 16:43

          - Result temporarily negatively impacted by unforeseeable non-recurring effects and delays,
            an increase in adjusted EBITDA is no longer achievable in the current financial year

- Long-term growth course intact: Record revenue still expected despite deliveries being
   postponed until the following year

- Target is a medium-term EBITDA margin of 10% to 12% and Group sales of EUR 200
   million

Greifswald, 19 April 2018 - Germany's largest series producer of sailing yachts HanseYachts AG (ISIN: DE000A0KF6M8 / WKN: A0KF6M) has suffered from some unforeseeable effects in recent weeks, with incoming orders and inventories remaining at record levels, which are having a negative impact on the Group's earnings in the current financial year. The integration of the Privilège brand into the Hanse brand portfolio and higher initial costs for newly developed yachts resulted in substantial additional expenses. The company was also impacted by the extreme weather at times during February and March. Delivery problems related to the weather and a flu epidemic with staff absences of more than 20% in key operating units - in some cases up to 40% at peak level - led to production delays and postponements. For the current 2017/2018 financial year (end: 30 June), adjusted EBITDA is therefore expected to be in the range of EUR 5 to EUR 7 million (previous year 2016/2017: EUR 10.9 million, adjusted for the previous year's non-recurring effect: EUR 8.7 million). Consolidated net income is expected to change accordingly and therefore will be slightly negative.

Long-term growth course intact: Record revenue still expected despite deliveries being postponed until the following financial year

Due to these delays, deliveries of yachts with sales contributions in the single-digit millions will be postponed to the 2018/2019 financial year (as at 1 July 2018). Revenue and margin of these yachts will be recognised accordingly in the next financial year. However, the highest revenue in the history of the company is still expected in the current 2017/2018 financial year.

Aim is a medium-term EBITDA margin of 10% to 12% and Group sales of EUR 200 million

"The successful repositioning of the core HanseYachts brand, the strong growth in motor yachts and the new Privilège catamarans will continue to ensure an impressive order book. Therefore HanseYachts also expects further growth for the following year and to achieve the EUR 200 million sales threshold with an EBITDA margin in the range of 10% to 12% in the medium-term and thus at the level of very profitable competitors," said CEO Jens Gerhardt.



End of Media Release


Issuer: HanseYachts Aktiengesellschaft
Key word(s): Enterprise

19.04.2018 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: HanseYachts Aktiengesellschaft
Ladebower Chaussee 11
17493 Greifswald
Germany
Phone: +49 (0)3834-5792-20
Fax: +49 (0)3834-5792-81
E-mail: ir@hanseyachts.com
Internet: www.hansegroup.com
ISIN: DE000A0KF6M8, DE000A11QHZ0, DE000A1X3GL4
WKN: A0KF6M, A11QHZ, A1X3GL
Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart

 
End of News DGAP Media

676681  19.04.2018 

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