Sunseeker International’s revenue grew by 21.3% from £268.lm in 2022 to £325.3m in 2023.
Gross margins improved from 9.4% in 2022 to 10.9% in 2023 and the company reduced its retained losses for the year from (£1.9m) in 2022 to (£0.5m) in 2023.
EBITDA excluding exceptional items improved by 63% from £12.3m in 2022 to £20m for the year ending December 31 2023 and there were net liabilities of £99.6m (2022: £99.1m).
The reduction in the company’s loss is being put down to a more stable supply chain in the latter half of 2023 which Sunseeker says enabled better production efficiency.
Supply chain efficiency
“Supply chain efficiency continued to be an issue for the Company in the first half of the year, though it saw rapid improvements in the second half of 2023,” stated Sunseeker’s stragetic report.
“We continue to explore risk mitigation plans including identifying alternative suppliers for component parts and raw material, and by moving component manufacture in-house where capacity is avallable.”
The report also states Sunseeker has a strong order book, aided by the introduction of new models.
During 2023, Sunseeker continued to invest in its facilities and technologies as well as new product development and employee training.
Improvements and expansion of the main shipyard facility at Poole were completed in 2023 with additional footprint being utilised to provide a dedicated production facility for the Ocean 156.
Acquisition
In addition, Sunseeker officially launched the Ocean 182 and the new Predator 75.
The boatbuilder was acquired by Lionheart Capital and Orienta Capital Partners in November 2024.
Following the acquisition, a financing agreement – subject to both monthly and quarterly financial covenants – was put in place.
The covenants include the requirement to comply with cashflow cover, adjusted leverage and minimum liquidity levels, states the director’s report.
The agreement has subsequently been amended and additional funding – so far £28.2m by way of shareholder loans has been provided to date in 2025.
Late 2024, around 100 staff were temporarily laid off, and in January 2025 Sunseeker announced it planned to launch a Superyacht Division with the launch of a new range of yachts spanning 100 to 140 feet comprising of a 120 Yacht, 135 Yacht and Ocean 460.
