The Polish marine success story, Sunreef Yachts, based in Gdansk begins its tenth year of trading with positive historical results and expectations for continued strong growth as it builds on its reputatation as the global leader in luxury catamarans.
Sunreef was established in 1998 as a charter company and then began producing yachts in 2000 in a Gdansk shipyard. The company delivered its first catamaran, the Sunreef 74 CHE, two years later in 2002 and since has seen sales and operating profit grow consistently along with its range of products and services.
Sunreef’s in-house charter agency, Sunreef Yachts Charter, now has more than 250 yachts in its fleet as its own 2007 net sales rose through €1.3 million with a 50 per cent increase expected in 2008.
"Our success to date comes from our focus on innovation and by extending the range of yachts we produce,” says Nicolas Lapp, Sunreef's vice president, ‘‘For the future we will be promoting and constructing our two new models while progressing orders for large custom yachts over 100 feet.”
Sunreef is owned by HTEP Polska Ltd and is actually comprised of two business units: building – Sunreef Yachts and chartering – Sunreef Yachts Charter employing 350 worksmen and employees. In addition to its production and headquarters activities in Poland, the company has worldwide brokers network in Spain, Italy, France, USA and China to name a few.
From 2006 to 2007 Sunreef’s net income from production and services increased 52% from €12.9 million to €19.6 million with expectations for 2008 that this will continue to €29.8 million as annual deliveries pass 10 with 16 scheduled for 2009.
Despite a challenging labour market in Poland, this accelerating production rate was achieved by optimising production techniques which for example reduced production time for Sunreef’s most popular model, the Sunreef 62, from 9 to 4 months.
Sunreef is also increasing overall production capacity with the acquision of 16 hectares land in nearby Gdańsk Wiślinka for the construction of two new 12,000 square metre purpose-built manufacturing facilities with possible enlargement due for completion and occupancy in 2010. These facilities will enable Sunreef to build yachts up to 50 meters in length.
Management’s forecast for the coming years is likewise very promising, if slightly more modest taking into account the uncertain world financial situation. Sunreef’s financial plan for 2009 budgets for a 34 per cent growth in sales on 2008 at €40.1 milion.
While continuing the production of its 62 foot catamarans, Sunreef is also planning and designing new models to complement its monohull which was launched in 2006, the Sunreef 60', the multihull Sunreef 67 sailing and 70 Sunreef Power, both introduced in 2008. In addition, two custom superyachts are currently under construction.
To provide its clients with a full range of support services, Sunreef has also established its Yacht Management, after-sales service and Brokerage Division which now has more than 800 yachts in its data base.
"Our goal for the future is quite simply to maintain our position as the world’s largest manufacturer of large and luxury catamarans from 60 to 150 feet,” concluded Lapp.