HANSE YACHTS (H9Y) investor relations material

Executive summary

• HanseYachts AG reported record revenue and a return to profitability for FY 2023/24, driven by strong sales of larger yachts, improved production efficiency, and successful price increases.

• The company completed a strategic renewal of its product portfolio and implemented process optimizations under its "Confidence 2026" strategy.

• The order book normalized after the pandemic boom, but the company remains well-positioned with a robust product pipeline and global dealer network.

Financial highlights

• Revenue increased by 7.8% year-over-year to €184.1 million, with EBITDA improving by €16.7 million to €4.6 million.

• Net income turned positive at €1.4 million, compared to a €15.3 million loss in the prior year.

• Gross margin improved to 33% of total output (up from 25%), driven by higher prices and a favorable product mix.

• Operating cash flow was impacted by lower advance payments and higher receivables, reducing cash balances to €1.4 million from €6.8 million.

• Equity increased to €7.1 million, with an equity ratio of 6.6% (prior year: 5.3%).

Outlook and guidance

• For the short fiscal year July–December 2024, revenue is expected between €70–90 million, with EBITDA and net income in the low to mid-single-digit million euro range.

• Management anticipates a rebound in order intake in late 2024, supported by new models, digital sales initiatives, and targeted dealer expansion.

• The company expects continued full production capacity for the remainder of 2024, with some risk of underutilization in the second half of 2025.