HanseYachts AG have made their latest annual 2020 review available to the public, revealing a shaky start but optimistic finish for the German yacht manufacturer’s previous year.
As expected, the initial outbreak of the COVID-19 pandemic and subsequent lockdown provided headwinds for the company. However, HanseYachts AG was able to maintain production for all six of their internal brands, going as far to develop new models.
A lower number of orders saw a part-time furlough for its manufacturing staff between August and September. The reduced workforce, combined with delayed material flows, resulted in increased production costs.
But despite the hurdles, the continued production during the first half of 2020 saw an increase to the company’s capital, which in turn helped contribute to new COVID-19 rescue loans alongside additional liquidity.
But it was in the second half of the year, moving into 2021, that saw promise for HanseYachts AG with the demand for products reaching record levels.
New orders have exceeded those of this time last year in every single month so far with no available build slots for any of HanseYachts’ six brands until the end of June this year, some for the next 12 months.
It wasn’t all good news for the Germany’s largest manufacturer of sailing and motor yachts, however. In November, HanseYachts AG faced their first positive COVID-19 outbreak at their main facility in Greifswald, with several employees testing positive to the virus.
Thankfully, the outbreak was contained by the end of that same month, HanseYachts AG employing extensive quarantine measures involving entire departments. Those affected employees are currently on the road to recovery.
As 2021 rolls forward, the world slowly recovering and boat ownership becoming a more appealing investment, HanseYachts AG are in a positive position. Although material flows have not returned to pre-crisis levels, they have improved slightly. Production has also since resumed to full speed.