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AUGUST 2019
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NEWS
Photo Sunseeker
SUNSEEKER PROFITS GROW
Profits at Sunseeker International have grown £5.5m according to the company's latest audited accounts. The figures show profits grew from £1.1m in 2017 to £6.6m in 2018 with pure boat operations - excluding other operating income - increasing by almost £10m year-on-year. Underlying EBITDA was over £13m for 2018, more than doubling the £5.9m of EBITDA recorded in 2017. Overall group (Sunseeker International Holdings) revenue was £299.8m in 2018, with gross margins increasing by 39% (£9.8m) from £25.5m in 2017 to £35.3m in 2018. “To oversee a 39% increase in our underlying gross margin is testament to Sunseeker's focus on the quality of business and not simply revenue growth,” said Mike McMillan, chief financial officer. “We have worked hard to provide an exciting product
WATER SYSTEMS
8 Sunseeker International’s profits have grown to £6.6m
range for our customers that can deliver increased levels of profitability, to fund further innovation and product development.” CEO Andrea Frabetti added: “I'm extremely happy with our performance in 2018. Looking ahead, we will further develop the framework for the business and drive the Sunseeker brand forward to even greater success, aided by a £50m CAPEX investment in R&D, new products, innovation and technology over the next five years.” The company previously announced plans to double its product range to 22 models over the next three years with future models including new product segments plus improved differentiation between various lines.
Intelligent control All boat sizes Remote control pages 13-15
SPIRIT YACHTS TO STOP USING TEAK LIGNIA Wood Company is to supply new Spirit Yachts with its timber decking. The first yacht using LIGNIA decking will be the Spirit 50CR, a Bermudan sloop that will be launched at this year's Southampton International Boat Show. Sister ship to the Spirit 47CR, the 15m Spirit 50CR is designed for cruising and racing around Europe and the UK. “Teak is now considered a high risk timber, so whilst we are using up our current supply, our standard decking for new Spirit yachts will be Lignia," said Spirit Yachts' MD, Nigel Stuart. "We take our responsibility to the environment very seriously and we are not prepared to risk using unsustainable wood. Having done extensive research into different options, we have found Lignia to be the best alternative to teak.”
Transfer suspended New entrants Fast charging study pages 1-10
BOAT BUILDING
Produced in Wales, Lignia is a soft wood and a member of the Douglas fir family (Pinaceae) that starts its life in FSC certified forests. Once harvested, the wood is modified by treating it with resin giving Lignia durability that is said to match tropical hardwoods. The Spirit 50CR has a Hall Spars carbon mast and boom as well as nitronic rod rigging, which are complemented by a OneSails sail wardrobe comprising a main, a jib and an asymmetric. The helm is controlled by a 42in mahogany and stainless steel wheel and is powered by a 39hp Yanmar engine. Designed by Sean McMillan, the yacht incorporates added beam and headroom compared to the more streamlined Spirit classic yachts and has accommodation for five guests across three cabins and two heads, one ensuite.
Quality stainless fittings from a trusted supplier
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Ambitious growth Time saving Boatbuilding academy pages 16-22
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