HanseYachts AG

Interim / Quarterly Report • May 15, 2013

News Details

Ireland | 15 May 2013 14:00

HanseYachts Aktiengesellschaft: 2nd Interim Financial Report of the Management Board for 2012/2013

HanseYachts Aktiengesellschaft / Release of an announcement according to Article 37x of the WpHG [the German Securities Trading Act]

15.05.2013 14:00

Interim report according to Article 37x of the WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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2nd Interim Financial Report of the Management Board for 2012/13
in Accordance with Article 37x of the Securities Trading Law (WpHG)

• Economic climate and market situation

• Earnings, financial and net assets situation

• Outlook for the further course of this year's business

Economic Climate and Market Situation

The world economy is currently on a slight recovery course after the
breaking apart of the Eurozone has been avoided, and in the US a drop over
the fiscal cliff in the budget battle has been averted. Nevertheless,
recovery in those economies has been very uneven: the US has benefited more
from the growing confidence of market players than most European countries.
In the European sales markets that are essential for us (Germany, the UK,
Northern Europe), we are expecting moderate economic growth; in Italy,
Holland, France and Spain, however, we are assuming that growth figures
will decline. In the Eastern Mediterranean region, we are anticipating
further economic growth.

Overall market demand for sailing yachts still remains at a low level.
Recovery over the short-term is not to be expected-in particular against
the background of the economic situation of the countries along the
Mediterranean rim. The only highlights have been the excellent sales volume
in Turkey, stable demand in Germany as well as the rising sales figures in
the US. Within our sector, however, there is marked predatory competition
that has been particularly reflected in competitive pricing.

We have been actively working to offset weak demand by exhibiting our
advanced and constantly improving palette of products and by recently
entering into new, regional markets such as in China and Chile as well as
by implementing stronger penetration into existing markets.

Earnings, Financial Position and Net Assets

Total revenues for the first 9 months of fiscal year 2012/13 sank by 21 %
to EUR 51.7M compared to last year's figure. In the period reported here,
we succeeded in reducing inventories by EUR 3.0M and thus avoided an
increase in this item as in the previous year.

At 58 %, the ratio of cost of materials to total operating revenues was 4.1
percentage points better than last year's figure. The gross margin totalled
EUR 20.9M after completion of the first nine months of fiscal year 2012/13
and has thus improved by 4.9 % compared to the same period last year.

Personnel costs have also improved by EUR 1.9M as well as Other operating
expenses by EUR 0.7M in a year on year comparison with last year. Earnings
before interest, taxes, depreciation and amortisation (EBITDA) increased by
EUR 0.3 million to - EUR 2.9M. Write-downs amounted to EUR 3.5M.
Consequently, EBIT has slightly improved by EUR 0.1M to - EUR 6.3M compared
to the same period last year.

Operative cash flow for the first 9 months of the current fiscal year at -
EUR 1.1M has indicated a significantly lower consumption of resources
compared to last year (- EUR 1.9M). The reason for this was in particular
an increase in the amount of advance payments made by customers when
ordering yachts. Expenditures for investments were EUR 1.2M (EUR 2.8M last
year).

We were able to counter the consumption of liquid funds caused by seasonal
fluctuations in building up working capital by means of a number of
financing measures such as by selling non-mission critical assets and sale
and lease back transactions. As at 31 March 2013 HanseYachts' liquid funds
amounted to EUR 1.4M (EUR 1.9M last year). Our ratio of equity to total
capital is 26 %.

Outlook for the Further Course of this Year's Business

The boat market will continue to be challenging due to the overall economic
uncertainty and the concomitantly weak demand on the part of consumers.
Exports into markets such as Brazil, Chile and China will not be sufficient
to offset declining sales in Europe.

The measures resolved in autumn 2012 to increase productivity will continue
to be implemented in order to achieve greater standardisation and
industrialisation in our operational processes.

We consider ourselves very well-positioned with respect to our competitors
thanks to our clearly established multiple-brand strategy as well as our
broad and trend-setting palette of models. The positive echo in the press
and successful sales of our newly introduced yachts at past boat shows,
including the Hanse 345, Hanse 575 and Dehler 38 have provided us with
confirmation for our strategy. Preparations for new as well as improved
versions of existing yacht models are currently proceeding at full speed
and will be presented at the coming autumn/winter boat shows. Our market
presence will be accompanied by a revised presentation of our products on
our web site in May 2013.

In comparison to fiscal year 2011/2012, we are counting on significantly
better results for fiscal year 2012/13, which is scheduled to end this
coming June. However, turnover could turn out to be lower than originally
planned against the background of the Euro debt crisis and could possibly
even be somewhat lower than last year. Our financial results should
nevertheless develop positively in light of the successful implementation
of reorganisation measures to increase productivity, to reduce the cost of
materials relative to total operating revenues as well as closing down
distribution enterprises abroad that have been plagued by losses and the
recent relocation of the production of Dehler yachts from Freienohl (North
Rhine-Westphalia) to our company's main production venue in Greifswald.

At the general meeting of HanseYachts AG on 10 December 2012, the
shareholders passed a resolution to permit a reduction in capital with a
subsequent capital increase. HanseYachts AG has filed an application for
release in court against an ongoing legal challenge to this resolution. In
May 2013 the court will hear oral arguments in the release proceedings;
there we are expecting a positive ruling on the legitimacy of the
shareholders' resolutions from the general meeting. The resolutions are
then expected to be carried out sometime in June 2013. Successful placement
of shares and the concomitant liquidity inflow will be essential for the
further development of HanseYachts AG in 2013.

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 21 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 operate and
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.

Ende / End of Text

Additional information, extensive photographic material, specifications and
much more can be found on our website in the press section of HanseYachts
Aktiengesellschaft. Go to the press section on our website at:
www.hanseyachts.com.

15.05.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: HanseYachts Aktiengesellschaft
Salinenstr. 22
17489 Greifswald
Germany
Internet: www.hansegroup.com

End of Announcement DGAP News-Service

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