DGAP-Ad-hoc: HanseYachts Aktiengesellschaft / Key word(s): Quarterly / Interim Statement/Change in Forecast
HanseYachts Aktiengesellschaft: Preliminary Q3 result 2017/2018 and forecast adjustment for 2017/2018 financial year

19-Apr-2018 / 15:24 CET/CEST
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Preliminary Q3 result 2017/18 and forecast adjustment for 2017/2018 financial year

Greifswald- According to the provisional, unaudited figures for the first nine months of the 2017/2018 financial year, HanseYachts AG generated a negative EBITDA* of EUR -0.4 million (previous year: EUR +4.6 million), despite a further 6% increase in sales versus the same period in the previous year (EUR 80.2 million). The integration of the Privilège brand into the Hanse brand portfolio and higher initial costs for newly developed yachts resulted in substantial additional expenses. Unforeseeable non-recurring costs related to the extreme weather in Q3 2017/2018 had a further impact. Optimization measures were initiated to improve earnings but will not show their full impact during the current financial year.

The Management Board of HanseYachts AG has therefore come to the conclusion that the earnings forecast for the 2017/2018 financial year (1 July 2017 to 30 June 2018) cannot be reached. So far EBITDA was forecast to rise compared with the previous year, adjusted for non-recurring effects. For 2017/2018 as a whole, the Management Board is now expecting EBITDA to be in the range of EUR +5 million 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). Net income for the 2017/2018 financial year will decrease accordingly and therefore be negative (previous forecast: positive consolidated net income).

The Management Board assumes that the subsequent 2018/2019 financial year will again show positive consolidated net income with moderate sales growth. In the medium term, the company aims to achieve the EUR 200 million sales threshold with an EBITDA margin in the range of 10% to 12%.

Details of the business development in the first nine months of the 2017/2018 financial year are expected to be announced by HanseYachts AG on May 31 2018 with the publication of the interim report for Q3 2017/2018.

(* EBITDA = operating earnings before interest, taxes and depreciation and amortisation)

HanseYachts AG
The Management Board

End of report


19-Apr-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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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

 
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676531  19-Apr-2018 CET/CEST

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