Singapore's Grand Banks Yachts FY revenue rises on on new-boat demand

Grand Banks Yachts

28/08/2026 10:30

Overview
Singapore luxury yacht maker's full-yr revenue rose 6.7% yr/yr to record S$173.2 mln
Gross profit margin improved to 30.0% from 28.1%, driven by build-to-order boat sales
Net profit after tax declined, reflecting higher investments in manufacturing and marketing

Outlook
Company says demand for luxury boats remains resilient in the USA, with recovery signs in Europe
Grand Banks expects capital expenditure to moderate following completion of major investment cycle
Company aims to expand recurring revenue streams and pursue operational efficiencies

Result Drivers
BUILD-TO-ORDER SALES - Revenue rose 6.7% to S$173.2 mln, driven by new-boat construction, partly offset by fewer trade-in and pre-owned boat sales
HIGHER OPERATING EXPENSES - Increased investments in manufacturing, sales, marketing, and participation in boat shows weighed on profit
FOREIGN-EXCHANGE PRESSURE – Gross margin fell to 27.8% from 29.9% as unfavorable FX movements reduced new-boat sales margins

Company press release: ID:nSN88NmBx

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
 
S$173.20 mln
 
FY Gross Margin
 
27.80%
 
FY Pretax Profit
 
S$17.9 mln
 

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)