Grand Banks Yachts

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From the latest 1H results - with sharp YoY increases in revenue and profits, and included a surprise $0.005/share interim dividend - announcement...
https://links.sgx.com/FileOpen/GB1HFY202...eID=786555
we know the Group recorded 11 new boat orders in 1H-FY24 (similar to 1H-FY23), and a net order book of $137.3m as at 31Dec23 (vs. $159.4m as at 30Jun23) - equating to approx. 14 months of current production (basis: 1H-FY24's external revenue from Manufacturing & Trading segment at $57.58m). To meet anticipated demand, management is adding 25% production capacity to reduce/clear the backlog, reduce wait time, and facilitate construction of bigger, sleeker and more fuel-efficient models. The added capacity should also allow the Group to eventually build limited number of stock boats to meet potential quick sales to new boat buyers who cannot wait 14 months for a build-to-order boat.
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(16-02-2024, 09:50 AM)donmihaihai Wrote: Grand Banks is performing significantly better, especially in terms of margin, perhaps due to production of bigger, higher value yachts. something not seen for more than 10 years. Perhaps partly due to the current bullish stock market conditions, if Chinese market join in, then it would be even better.

How long does it take to build a yacht? A short summary of new orders and order book.

1HFY2024  New order: 11 Order book as at period end: 137.3M
FY2023      New order: 19 Order book as at period end: 159.4M
FY2022      New order: 31 Order book as at period end: 182.9M
FY2021      New order: 40 Order book as at period end: 116.9M
FY2020      New order: 35 Order book as at period end: 48.9M

Me: How long does it take to build a yacht

ChatGPT: The time it takes to build a yacht can vary significantly based on factors such as the size and complexity of the yacht, the materials used, and the customization requested by the owner. Smaller yachts may take a few months to a year to build, while larger and more complex ones can take several years.

The Grand Banks I googled do not seem to suggest they are on the level as Jho Low's. So I reckon GB yachts probably take ~6 months to build. Might be longer with more specific customizations.
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As a well-established yacht builder now producing just 20+ boats a year and making a PBT in excess of $20.0m (extrapolating from 1H-FY24's PBT at $10.5m), it is very good performance indeed!
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(16-02-2024, 06:08 PM)weijian Wrote:
(16-02-2024, 09:50 AM)donmihaihai Wrote: Grand Banks is performing significantly better, especially in terms of margin, perhaps due to production of bigger, higher value yachts. something not seen for more than 10 years. Perhaps partly due to the current bullish stock market conditions, if Chinese market join in, then it would be even better.

How long does it take to build a yacht? A short summary of new orders and order book.

1HFY2024  New order: 11 Order book as at period end: 137.3M
FY2023      New order: 19 Order book as at period end: 159.4M
FY2022      New order: 31 Order book as at period end: 182.9M
FY2021      New order: 40 Order book as at period end: 116.9M
FY2020      New order: 35 Order book as at period end: 48.9M

Me: How long does it take to build a yacht

ChatGPT: The time it takes to build a yacht can vary significantly based on factors such as the size and complexity of the yacht, the materials used, and the customization requested by the owner. Smaller yachts may take a few months to a year to build, while larger and more complex ones can take several years.

The Grand Banks I googled do not seem to suggest they are on the level as Jho Low's. So I reckon GB yachts probably take ~6 months to build. Might be longer with more specific customizations.

thank you and I wasn't looking and expecting an answer. 

Just asked to link the very decent results to a declining order book, yard expansion under a bullish stock market condition and bright outlook by the management.
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(17-02-2024, 09:19 AM)donmihaihai Wrote:
(16-02-2024, 06:08 PM)weijian Wrote:
(16-02-2024, 09:50 AM)donmihaihai Wrote: Grand Banks is performing significantly better, especially in terms of margin, perhaps due to production of bigger, higher value yachts. something not seen for more than 10 years. Perhaps partly due to the current bullish stock market conditions, if Chinese market join in, then it would be even better.

How long does it take to build a yacht? A short summary of new orders and order book.

1HFY2024  New order: 11 Order book as at period end: 137.3M
FY2023      New order: 19 Order book as at period end: 159.4M
FY2022      New order: 31 Order book as at period end: 182.9M
FY2021      New order: 40 Order book as at period end: 116.9M
FY2020      New order: 35 Order book as at period end: 48.9M

Me: How long does it take to build a yacht

ChatGPT: The time it takes to build a yacht can vary significantly based on factors such as the size and complexity of the yacht, the materials used, and the customization requested by the owner. Smaller yachts may take a few months to a year to build, while larger and more complex ones can take several years.

The Grand Banks I googled do not seem to suggest they are on the level as Jho Low's. So I reckon GB yachts probably take ~6 months to build. Might be longer with more specific customizations.

thank you and I wasn't looking and expecting an answer. 

Just asked to link the very decent results to a declining order book, yard expansion under a bullish stock market condition and bright outlook by the management.

The data from the outsider doesn't match to the insider's call. The outsider will have to analyze more and hopefully, get a good view on the insider's call. Plenty of time to do so.
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Featuring Grand Banks' GB 54 - an entry-level yacht... 
https://www.linkedin.com/posts/grand-ban...er_desktop
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