Neel Trimarans, a prudent but continuous development

Neel Trimarans' boss presented the 2016 results and outlook for 2017. The company intends to continue to gain market share in the multihull.

Stable sales and good gross margin

Neel Trimarans' turnover between September 2015 and August 2016 is over ?3.5 million. It was stable compared to the previous financial year at ?3.6 million, an increase of 63%. EBITDA is around 400 € k?.

Neel has a gross margin of 30%, productivity being driven by the new plant opened in 2013 on the La Rochelle nautical platform.

A versatile product

Neel's success is due to its versatile and differentiating positioning. We can globally distinguish 3 markets in the multihull segment:

  • The rental
  • The great journey
  • The owner's boat

Competitors on the multihull market generally make a marked choice, favouring either comfort and habitability or performance. Neel claims he can successfully meet both criteria. Today, 8 of the 21 Neel 45s are operated on charter.

Focus on quality

While the company directly employs 14 people and has around 15 people working for its composite subcontractor, it had become necessary to set up a structured quality follow-up. A quality manager was appointed at the beginning of 2016 to set up a dedicated management system, both within the Neel yard and in its supplier policy.

Reasoned growth objectives

The company does not make a significant net result a priority, at least until the end of 2018. The first objective is the development of the company. Neel estimates its market share in the multihull sector at 3%. He wants to reach 7% within 5 years.

While the current production is 5 boats per year, the management of Neel Trimarans wants to release 7 sailboats per year within 3 years, including one or two Neel 65.

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