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Najad got bankruptcy

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Henrik84 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Henrik84 Quote  Post ReplyReply Direct Link To This Post Topic: Najad got bankruptcy
    Posted: 27 February 2013 at 21:15
Today Najad and Nord West on the Swedish westcoast submitted the application to the district court for bankruptcy.
I think this is very bad news for very beautiful boats.
Nord West (luxury motorboats) bought Najad a few years ago when they got bankruptcy and now the whole company id down.

I hope we will see a buyer from Sweden to save the job for the 120 people who are working there.
//Henrik 
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gertha View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote gertha Quote  Post ReplyReply Direct Link To This Post Posted: 27 February 2013 at 22:25
May be there will be a buyer from Germany.
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samuel View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote samuel Quote  Post ReplyReply Direct Link To This Post Posted: 28 February 2013 at 08:05
I agree it is always a pity to see a firm go down, even a direct competitor.
Anyone know if the Hanse group are making a profit again?

Or will we all be owning antiques to pass down to our children( most of my boat is already in the loft this time of year!!)

Edited by samuel - 28 February 2013 at 20:15
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sailkoop View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote sailkoop Quote  Post ReplyReply Direct Link To This Post Posted: 28 February 2013 at 10:32
Hi Samuel,
a short view in the half Year P&L of the "Hanseyacht AG" shows 6.2 Mio€ loss, this is 500k€ better than the first half Year. I guess it's still a difficult Situation in this Market and specially also for Hanse!Ermm

regards
best regards

Bjoern

http://www.sy-serafina.de
Hanse 470e #165

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samuel View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote samuel Quote  Post ReplyReply Direct Link To This Post Posted: 28 February 2013 at 17:27
From what you have said-
If they lost 6.2 million euro in the last 6 months & 500k more in the 6 months before ie 6.7 million then in simple terms that is 12.9 million euros in 12 months
I would be very concerned about paying a deposit on a new boat from Hanse right now
In fact if you wait a few months you will be able to pick up a part finished boat( even the complete company) for peanuts
That sort of loss on a company that was valued at 70 million euros( i seem to recall) is unsustainable & really demonstrates very bad management - does it not?
Financial euro crisis or no financial crisis
Any day now & this forum will suddenly disappear. Do we have a contingency plan forumites?

Edited by samuel - 28 February 2013 at 17:29
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gertha View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote gertha Quote  Post ReplyReply Direct Link To This Post Posted: 28 February 2013 at 18:57
Samuel,
Hanse has lost money every year for I believe the last 4 years, and the loss some years has been greater.
I am sure someone can give us the figures as they are on the main Hanse site.
The company that owns Hanse makes a fairly masive profit and will have no problem with Hanse as it moves the brand foward and probably into profit one day.
The chance of you picking up a Hanse yacht or company is not realy on the cards at the moment, also the way deposits are paid on Hanse you do not have any great exposure.

On a seperate note why are your children in your loft?

Simon
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samuel View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote samuel Quote  Post ReplyReply Direct Link To This Post Posted: 28 February 2013 at 20:16
Sorry -- i have edited the post. I was talking about the antiques
As for the group owning Hanse. In the UK It only takes a review of income & suddenly an offshoot gets shut down
However, it is well known that Germans take a longer view.

Edited by samuel - 28 February 2013 at 20:20
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superliga View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote superliga Quote  Post ReplyReply Direct Link To This Post Posted: 28 February 2013 at 20:34
here are the numbers for income statements 4 years: 
http://investing.businessweek.com/research/stocks/financials/financials.asp?ticker=H9Y:GR


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superliga View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote superliga Quote  Post ReplyReply Direct Link To This Post Posted: 28 February 2013 at 20:35
And here are the balance sheets for 4 years:
http://investing.businessweek.com/research/stocks/financials/financials.asp?ticker=H9Y:GR&dataset=balanceSheet&period=A&currency=native
PEARL - S/Y SUPERLIGA - HANSE 470 e - Hull #168 - hanse470.com
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Markku View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Markku Quote  Post ReplyReply Direct Link To This Post Posted: 28 February 2013 at 20:42
No company should make losses and I'm sure the management of the company is under huge pressure to do all they can making company back to profitable. Typically it means cost cutting and saving in all functions and materials, and/or improving productivity, but boat prices may go up as well.
 
From equity owner's and investor's perspective the situation is also quite bad. They practically lose money every month, but on the other hand can't sell the unprofitable company, because it might be difficult to find a buyer or price goes too low. If the owners have big pockets and they see future opportunities, they may stand there for a while. Anyways if there is no change in profitability, at some point the owners have to make a decision and discontinue pumping money in. Simple business rules will apply.
 
Let's hope the Hanse brand continues strong in the market.   
 
Markku
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