HANSE YACHTS (H9Y) Q1 21/22 earnings summary

Executive summary

• Total operating performance more than doubled to EUR 36.1 million, up 138% year-over-year for Q1 2021/2022.

• Consolidated revenues rose 20% to EUR 34.0 million, marking a 13-year Q1 record.

• EBITDA turned positive at EUR 0.2 million, a EUR 2.2 million improvement year-over-year and the second-best Q1 in over a decade.

• Order intake reached a record EUR 94.1 million, up 52% year-over-year; order backlog increased 130% to EUR 245.6 million.

• Net loss narrowed to EUR -1.8 million from EUR -3.8 million year-over-year, mainly due to higher operating performance.

Financial highlights

• Revenues: EUR 34.0 million (Q1 2021/2022) vs. EUR 28.4 million (Q1 2020/2021), +20%.

• Total operating performance: EUR 36.1 million vs. EUR 15.1 million, +138%.

• EBITDA: EUR 0.2 million vs. EUR -2.0 million, a significant improvement.

• Net loss: EUR -1.8 million vs. EUR -3.8 million, showing reduced losses.

• Order backlog: EUR 245.6 million vs. EUR 106.7 million, +130%.

Outlook and guidance

• Substantially higher revenues, EBITDA, and profit/loss expected for the full 2021/2022 year compared to 2020/2021.

• Number of yachts produced and invoiced anticipated to be significantly higher year-over-year.

• Positive outlook supported by high order levels, vaccination progress, and easing of restrictions, but risks remain from supply chain disruptions and pandemic aftershocks.