Sunseeker Returns to Profitability

British yacht builder, Sunseeker, recently reported a 2016 year-end profit of £6million (EBITDA) ($10 million CAN). This comes as welcomed news for the manufacturer, which recently delivered five new models and saw its forward order book increase by 41 percent by volume year-on-year. In Canada, the brand is represented by Toronto, Ontario-based Executive Yacht.

Sunseeker’s year-end profit figure reflects a £36million (EBITDA) ($60 million CAN) profit improvement since 2014, which the company claims is a result of significant restructuring and refocusing efforts as well as substantial new investments in product, facilities and people.

Sunseeker reports increasing revenue by 25 percent, rising from £202.6 million ($337.8 million CAN) in 2015 to £252.4 million ($420.9 million CAN) in 2016. The manufacturer also reports creating more than 400 jobs since 2014 and plans to increase that number by another 170 in 2017.

“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,” says Phil Popham, CEO of Sunseeker. “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.”

Sunseeker’s Manhattan 52, which won the award for ‘Best Flybridge up to 55 feet’ at the 2017 Motor Boat Awards, is now the brand’s fastest-selling model to date with more than 80 retail orders in its first five months.

So far in 2017, Sunseeker has launched two new models, the Manhattan 66 and 68 Sport Yacht, which were revealed at the London Boat show in January. Further introductions are planned for later in the year.

Brothers, Robert and John Braithwaite, founded Sunseeker International Holdings Ltd. (SIHL) in 1969. From its manufacturing base in Dorset on the south coast of England, Sunseeker employs approximately 2,000 people and produces around 150 boats each year ranging from 50 to 155 feet.

Wanda Group, a Beijing, China-headquartered conglomerate, acquired a majority stake in the business in August 2013.