News from the bridge

Dear Esteemed Investors, Yachting Enthusiasts, and Marine Sport Enthusiasts, 

The season is in full swing in the northern hemisphere and is eagerly awaited in the regions far south. Whatever the season, sailing and motor #yacht lovers alike are driven by the dream of owning a boat.

The turn of the year is already far behind us, and we hope you are all on an ideal course through 2023.

Despite many challenges, in the last financial year #hanseyachts produced more powerboats and sailing yachts than before. Our production schedule is almost entirely filled for the upcoming year, and an abundance of new models from our shipyard is fuelling customer demand.

There's a wealth of news to report. 

Business year with production record

Despite completely unexpected extensive supply problems with production-critical components and correspondingly lower-than-planned boat completions in April, the proud number of 626 sailing and motor yachts left the company's production halls last business year. Thanks to the considerable investments in quality improvement and improved processes for higher production efficiency and thus shorter lead times of the boats - and not least thanks to the enormous commitment of our employees - this has been the highest number since 2011.

Shipyard capacity booked for more than a year

With our filled order book for our powerboat brands Fjord, Sealine and Ryck as well as for our sailing yachts of the Hanse, Moody and Dehler brands, the production capacity of #hanseyachts is well utilised beyond the current financial year. Thus, only a handful of slots are still available for selected models. Also, the current fireworks of new models at #hanseyachts is obviously stimulating customers' appetite for buying a boat.

Planned capital increases successfully completed

The compensatory subscription rights capital increase announced in December was successfully carried out in February. It was intended to enable shareholders of the company to subscribe to new #hanseyachts shares against cash contributions at the same economic conditions as Aurelius, in order to be able to compensate for their proportionate dilution through the previous capital increase. In this context, the two members of the Management Board of #hanseyachts AG also each acquired around 122,000 shares in the Company.

Major investor significantly intensifies commitment

Our company's second largest shareholder has significantly raised his strategic investment in #hanseyachts. Rainer Vesting, who has been accompanying the development of the company financially and as a #yacht production enthusiast for a long time, has thus once again considerably increased his commitment. With a convertible loan totalling three million euros, Vesting is aiming to increase his stake to over ten percent. This confirms #hanseyachts in its chosen course and strengthens the shipyard in its future-oriented strategy.

Hanse 410 with revolutionary e-drive nearing official presentation

On 27 July she will be presented officially: the little sister of our highly successful Hanse 460 and Hanse 510. As planned, our shipyard in Goleniów/Poland has delivered the hull and deck for the newly developed Hanse 410 in excellent quality, and in the meantime the assembly of the first prototype has been completed in Greifswald.

We are looking forward with great pleasure to the first sea trials of the brand new Hanse 410, which is once again setting new standards in its class - also in terms of sustainability. Even if the #yacht is not powered by wind energy, its revolutionary optionally available electric drive with a range of up to 55 nautical miles allows CO2-neutral travel even without wind. She can even be fitted with Elvstrøm's SPS Sustainable Performance Sails which are made from recycled materials. Hanse is thrilled to offer environmentally friendly alternatives.

We have already received numerous orders for the latest family member in our Hanse model range directly after her dealer reveal, and we are convinced that the third model from the cooperation with Berret-Racoupeau will become a bestseller as well.

New FJORD 39 on her way

FJORD, our performance powerboat brand, will officially launch two new models in its successful series of walkaround yachts this autumn: the 39 XL with powerful inboards and the 39 XP with high performance Mercury V10 outboard engines.

Both boats again combine the largest T-top in their size class and the impressively generous dimensions on deck. With her unique combination of performance, comfort and iconic design, the new FJORD 39 will be another absolute highlight on the water. The open deck layout offers unrestricted freedom of movement typical for FJORD. While a carefully planned layout of the cockpit allows for seamless transition between the different areas.

In doing so, every inch of space has been masterfully maximized by our designers to serve a distinct purpose. Compared to the FJORD 38, the interior presents a significant improvement, redefining standards in this boats class. As with all FJORD yachts, the 39 XL and 39 XP are protected from the elements even at full speed by the distinctive T-top and different windscreen options.

HanseYachts awarded for high quality of vocational training

For the sixth time in a row, #hanseyachts has been honoured as a top vocational training company by the Neubrandenburg Chamber of Industry and Commerce. This seal is awarded by an independent jury to companies that have been providing very good quality vocational training for at least five years.

 Our trainees span diverse fields—from boat building and technical product design to roles in carpentry, wood mechanics, warehouse logistics, electronics, and IT. Regularly, they rank among the top of their graduating classes. Additionally, through dual studies in business administration and industrial engineering, we nurture potential future leaders for #hanseyachts. 

The high-quality training provides the next generation with an optimal foundation for future professional success - and it is an important component in meeting our need for skilled workers.

Own training centre in operation

In face of the general shortage of skilled workers, entrepreneurial initiative is becoming increasingly important in order to effectively counter the gaps in the labour market. For this reason, #hanseyachts opened a training centre with classrooms and its own workshop with machinery on 1 May.

Our focus here is on pre-qualifying new employees with basic training for our production so that the otherwise necessary training phase in the operational process can be largely omitted. This means that the new employees can be placed alongside their experienced colleagues practically immediately, the effort required for on-the-job training is minimal and the existing teams are significantly relieved.

In addition, #hanseyachts implements various further training measures for our specialist aides in the training centre, in the course of which their skills and specialist knowledge are significantly expanded with regard to the requirements of our #yacht building business. This in-house qualification initiative significantly contributes to compensating for the prevailing shortage of skilled workers.

Our apprentices receive additional training here, which provides them with further technical content specifically tailored to the requirements of #hanseyachts, beyond the usual curricula. In this way, we support our junior staff to a very special extent in order to ensure that we have the most highly qualified specialists possible for the future of #hanseyachts in this area as well.

Increased supply security through diversification

Even though the supply chains are normalising further and further, individual suppliers continue to have difficulties in delivering important parts on time and in sufficient quantities. In order to be able to complete our boats as planned, we continue to work intensively on diversifying our supply sources. Our focus is on particularly critical components without which a #yacht cannot be delivered. Our goal is to always develop at least one alternative option in these areas in order to avoid one-sided dependencies as much as possible.

Thus, in addition to the boats of the Moody and Sealine brands, we will also equip our sailing yachts of the Hanse brand with navigation electronics from Raymarine in the future. Fjord, Dehler and Ryck will continue to be equipped with products from B&G. In effect we achieve a better overall distribution of the risk of failure among suppliers of these instruments, which are indispensable for a #yacht.

Highlighting our advancements, we've forged a new collaboration with the renowned sail manufacturer, Elvstrøm, whose sails will power our Hanse brand models in future, while Quantum Sails will continue to be used on Moody and Dehler. This diversified approach reduces our reliance on a single supplier, offering us greater flexibility in crafting our sailing yachts.

Germany premiere of the Hanse 510

In the first half of the year, several prototypes of our Hanse 510 left the shipyard. One of them was the much-acclaimed flagship among the Hanse fleet exhibited in Neustadt on the Baltic Sea at Germany's largest in-water boat show.

FJORD 41 XP passes first sea trials

We have developed the new FJORD 41 XP, especially for North America. Two 600 hp V12 outboard engines accelerate the boat to a top speed of up 45 knots. Also this new boat has already proven its seaworthiness and it will celebrate its world premiere from 25-29 October at the Fort Lauderdale International Boat Show in Florida.

Efficiency increase by concentrating on high-demand models

In future #hanseyachts will concentrate production on our more popular models. This is an effort to exploit the potential of series production with our sailing and motor yachts to an even greater extent. On the one hand, this means that models which have been on the market for a long time but are rarely purchased will be taken out of the programme – especially if they are smaller boats and therefore economically less interesting. Accordingly, the very last Dehler 29 recently left the shipyard. On the other hand, for example, the Hanses from the new model range will not only replace one older model, but in some cases two.

At the same time, when developing new boats, we make sure that they are not only particularly easy to manufacture, but also meet the broadest possible spectrum of customer demand. In this way, as many nearly identical boats as possible can run through the #hanseyachts assembly lines. This leads to less complexity and, at the same time, greater efficiency in production, which in turn benefits the company's profitability.

Turnover-enhancing dealer price structure introduced

In order to promote sales of our sailing and motor yachts even more strongly, #hanseyachts has introduced a new pricing system for its sales partners. The discounts on the list prices of our yachts are now more strongly based on the turnover volume that the respective dealers achieve with yachts from our company. This significantly increases the incentive for more sales, and particularly successful dealers are given special support. In this way, the goals of the dealers are synchronised even better with the interests of #hanseyachts in order to increase sales, turnover and profitability at the same time.

Highlighting our advancements, we've forged a new collaboration with the renowned sail manufacturer, Elvstrøm, whose sails will power our Hanse brand models in future, while Quantum Sails will continue to be used on Moody and Dehler. This diversified approach reduces our reliance on a single supplier, offering us greater flexibility in crafting our sailing yachts.

HanseYachts delivers on the dreams of #yacht enthusiasts with a robust product range and an array of new offerings. With unwavering conviction and dedication, the focus remains on elevating the brands' competitiveness and profitability, securing the company's future. Trust in this dedication.

We wish you and your families a hand's breadth of water under your keel at all times.

Your #hanseyachts AG Investor Relations Team

Visit our Investor Relations page for further information. In addition, our Financial Calendar provides details of upcoming investor calls and participation at the next capital market conferences.