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Princess Yachts to launch six new models as annual revenue grows

Market
Written by
Laura Nicholls

Princess Yachts has announced plans to launch six new models, with the aim of further solidifying their position as one of the world's best-selling brand of luxury yachts.

Following the launch of the S78, V50, V60, V65 and F70 models earlier this year, the new models incorporate new technologies and concepts from the Princess range.

Alongside the new X95 'Super Flybridge' that SuperYacht Times shared a sneak preview of on Tuesday, the R35 performance sports yacht will be the second new class to the shipyard.

Princess Yachts also revealed a new F45 flybridge model and the Y85 motor yacht. Princess’ V Class sports range will increase to include both the V55 and V78 models. Princess Yachts 2018 launch_X95_Y85_V78_V55_F45_R35Photo: Princess YachtsPrincess Yachts revenue for 2018 grew by 50% in comparison to H1 2017 after selling £30 million worth of yachts in just one week. With an order book that covers 100% of its production for 2018 and 75% of its production for 2019, the shipyard has increased their Plymouth-based workforce by 700 and are on target to produce almost 300 yachts this year - a 30% increase in their production volume. Combined, this is set to result in a record high profitability for Princess Yachts and more than double its EBITDA. 

Princess’ five-year £100 million investment programme is now in its third year and is fully on track. “The intensity of our new product programme has already brought outstanding results as customers relish the unique combination of craftsmanship, elegance, quality, performance and customer care that are core to every Princess yacht,” commented Antony Sheriff, Executive Chairman of Princess Yachts. 

“These next six new models raise the bar much higher with unprecedented use of innovative technologies, materials, architectural concepts and design solutions; we hope to be setting the standard for yacht producers for many years to come."

The SuperYacht Times iQ Report

The SuperYacht Times iQ 2018 Report

Our market report is the most complete in the business and provides in-depth analysis of the fleet by size range, the construction book, the market for new and used yachts for sale and the superyacht builders, as well as a detailed overview of superyacht ownership. It also gives the personal views of Merijn de Waard, company founder and long-term superyacht market analyst, on the state of the market.

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