DGAP-IRE: HanseYachts Aktiengesellschaft: HanseYachts

HanseYachts Aktiengesellschaft / Release of an announcement according to Article 37x of the WpHG [the German Securities Trading Act] 14.11.2013 13:45 Interim report according to Article 37x of the WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- 1st Interim Financial Report of the Management Board for 2013/14 in Accordance with Article 37x of the Securities Trading Law (WPHG) - MARKET CLIMATE CONTINUES TO BE DEMANDING - SIGNIFICANT IMPROVEMENT IN EARNINGS SITUATION - VERY POSITIVE EBITDA EXPECTED FOR THE ENTIRE FISCAL YEAR Economic Climate and Market Situation The overall economic situation in the area of our main sales volume, Europe, still remains demanding. In this regard, the Northern European economies have become more stable than those in Southern Europe. In this overall market climate, there are nevertheless signs of a recovery at a low level and that the crisis has bottomed out. HanseYachts AG has had an outstanding 1st quarter and is now looking positively to the future with renewed confidence. We consider this development to be primarily justified by our new products that have been introduced in recent months. The key to success for HanseYachts AG can thus be found in the convincing concepts of the individual brands and innovations that have touched the nerve of our times. Earnings and Financial Position In the 1st quarter of fiscal year 2013/2014 (July to September 2013), HanseYachts AG succeeded in increasing total revenues by 19 % to EUR 17.8 million compared to last year. Other operating income of EUR 1.7 million includes the proceeds of EUR 1.4 million from the sale of property not considered essential for operations. Our ratio of cost of materials to total operating revenues at 63 % was slightly above last year's figure of 62 %. The ratio of personnel costs to total operating revenues improved by 5.3 percentage points to 24.1 %. Altogether gross profits for the first three months of the current fiscal year increased by EUR 0.9 million to EUR 6.6 million compared to the same period last year. Other operating expenses also fell off compared to the same quarter last year. Relative to total revenues, they were 8.5 percentage points below last year's figure. In absolute terms they decreased by EUR 0.6 million to EUR 4.0 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) improved by EUR 2.3 million to an almost break-even result of -EUR 0,004 million. Write-downs remained unchanged at EUR 1.0 million. EBIT is now at -EUR 1.0 million and has thus improved by EUR 2.3 million compared to last year. While taking taxes and financial results into account, it resulted in net profit or loss for the period of -EUR 1.3 million, which meant an improvement of EUR 2.1 million compared to last year. At -EUR 4.2 million, operative cash flow for the first 3 months of the current fiscal year has indicated a higher commitment of resources in comparison to last year (-EUR 1.9 million). In addition to significantly improved net earnings for this period and higher advance payments on yacht orders, the reason for this was higher working capital. The balance between income from the sale of fixed assets not considered essential for operations and expenditures for investments was -EUR 0.2 million (+EUR 0.3 million last year). Thanks to successful completion of a capital increase from authorized capital in the 1st quarter, subscribed capital rose by EUR 2.6 million to EUR 9.6 million and capital reserves by EUR 2.4 million. As at 30 September 2013, our ratio of equity to total capital amounted to 38 % (as at 30 June 2013: 31 %). Outlook for the Further Course of this Year's Business For the current fiscal year, we continue to see positive market opportunities in Germany, England, the US, in Asia as well as in South America. In Northern Europe we are expecting demand to remain stable at the current low level. Individual orders and an increasing number of inquiries from Southern Europe have made us hopeful of a slight recovery in demand from this region. All in all, we consider our own development to be better than that of the boat market in general. Incoming orders during the period under review have also reflected this trend: In the 1st quarter of fiscal year 2013/2014, orders for new yachts amounted to EUR 27.6 million and were thus around 85 % above last year's figure for the same period. This healthy level of incoming orders can primarily be attributed to our multiple-brand strategy and our willingness to invest in developing trend-setting models tailored to our markets. A comprehensive presentation of our palette of models, including the newly developed HANSE 505, MOODY 54 Deck Saloon and the VARIANTA 37, at the coming boat shows will form the basis for modest growth in turnover planned for fiscal year 2013/2014. This growth in turnover in conjunction with measures implemented to increase production efficiency will guarantee substantial improvement in our results and significantly more positive earnings before interest, taxes, depreciation and amortization (EBITDA) for fiscal year 2013/14. About HanseYachts: HanseYachts is one of the leading yacht manufacturers worldwide. This year we will celebrate the 20th anniversary of the HANSE brand and in fact the 50th anniversary of the DEHLER brand. Sailing yachts are currently being built under the HANSE, MOODY, DEHLER and VARIANTA brands and motor yachts under the FJORD brand, all of which range in length from 18 to 63 feet. Our product palette of sailing and motor yachts includes 28 different models extending across all of our brands. From the very beginning, the concept of this boatyard was to offer technologically sophisticated, owner-operated yachts that are convenient to handle and that represent excellent value for money. That, coupled with innovative design concepts, has resulted in the success, with which the HanseYachts Group has established itself on the market today. Since March 2007 HanseYachts AG has been publicly listed on the General Standard of the Frankfurt Stock Exchange. End of Message. Additional information, extensive photographic material, specifications and much more can be found on our website in the press section of HanseYachts Aktiengesellschaft. Please visit our press area at www.hansegroup.com 14.11.2013 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: HanseYachts Aktiengesellschaft Salinenstr. 22 17489 Greifswald Germany Internet: www.hansegroup.com End of Announcement DGAP News-Service ---------------------------------------------------------------------------