Sunseeker says it has returned to profitability

Sunseeker International Holdings Limited audited accounts reveal that it moved back to profit with a ￡6million (EBITDA) for the year ending December 31, 2016, the company said Monday.

“This was a defining year for Sunseeker, during which it delivered five new models, a record number for any one year, and saw its forward order book increase by 41% by volume year-on-year,” the company said in a statement.

The figures reflect a ￡36million (EBITDA) profit improvement since 2014. The company said it has increased business increase revenue by 25 percent from ￡202.6million in 2015 to ￡252.4million, as well as creating over 400 new jobs since 2014. Sunseeker has announced plans to recruit a further 170 people in 2017 to support further volume growth.

“It has been a remarkable turnaround in such a short space of time and much of this can be attributed to our strategy to continually invest across the key areas of the business, especially our products,” said CEO Phil Popham. “New and exciting products breed growth in this market and the response we have had for our latest models has been nothing short of incredible. We are confident this is going to continue too as we will be investing a further ￡50 million across the business to support a bold product plan that will see many more new introductions over the next few years.
 
“2016 has been a defining year for Sunseeker and I’d like to personally thank the whole Sunseeker team for their hard work and dedication and our shareholder Wanda Group for their continued support to help make this possible,” he added. “The business is on a fresh course, not just to strengthen our position as Britain’s largest boat builder, but as the global leader for luxury performance superyachts.  All this, underpinned by a strong forward order book, means we are extremely excited about the future.”
 
The multiple product model launches are set to continue as part of a long-term product plan, which will see several new model introductions over the next five years, the company said. Sunseeker has launched two new models so far in 2017, the Manhattan 66 and 68 Sport Yacht, which were revealed at the London Boat show in January, and further introductions are planned for later in the year.