princess yachts financial results

Another strong set of financial results for Princess Yachts

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Written by Zuzana Bednarova

The prominent British luxury motor yacht builder, Princess Yachts , is proud to announce another strong set of financial results achieved against a background of difficult economic conditions spanning all major global markets.

Princess 40M superyacht Imperial Princess - the largest yacht ever built by Princess Yachts

Profit before tax for the year ended 31 December 2012 was £18.4 million (2011 £20.5 million) on turnover of £249.9 million (2011 £228.6 million), with net assets at the year end totalling £104.6 million (2011 £92.9 million). While profits are down on the previous year, Princess growth in turnover, achieved in a fiercely competitive market environment, has resulted in increased market share thus further underpinning the foundations for further growth.

Throughout the economic downturn, Princess Yachts have continued to invest heavily in new product and new facilities. 2012 will be seen as a pivotal year in the company’s history with the successful launch of the highly acclaimed Princess 40M superyacht Imperial Princess , the largest yacht the company has ever built.

Following a string of awards, including the prestigious World Superyacht Award , the company has secured further 40M orders and shortly expect to embark on the first phase of construction of state of the art production facilities at the company’s new shipyard at Devonport South Yard. This is a £35 million investment programme, which has received support from the Government’s Regional Growth Fund.

The forthcoming Autumn boat show season will see the launch of several new exciting models, including an all new Princess 43, Princess V48 and Princess 88 Motor Yacht . These are the fruits of a substantial and carefully targeted investment programme that has continued unabated against challenging world economic conditions and which Princess Yachts believes will set them at the forefront of the industry.

Steps have also been taken to substantially increase Princess presence in both new and existing markets, with the appointment of new distributors and the provision of market and product support designed to enhance the Princess owner experience.

There is a steadily growing view that the economic cycle is beginning to show signs of sustained improvement. While Princess Yachts remain cautious, its programme of investment in new product and facilities looks to the long term and will continue unabated and with a clear focus on further growth in market share and remaining at the forefront of proudly contributing to Britain’s exports in virtually every market that luxury yachts are to be found.

Below is a choice of the superb charter yachts built by Princess Yachts .

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Princess reports strengthened business position following 2022 supply chain delays

British boatbuilder Princess Yachts is reporting a strengthened business outlook for 2023 after recovering from major disruptions to the company's operational processes, fueled by an order intake that continues to outstrip capacity. 

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By SuperyachtNews 31 May 2019

A record year for Princess Yachts

The british superyacht-manufacturing stalwart has announced record breaking financial results, a strong order book and a thriving apprenticeship scheme….

Princess Yachts has today announced record financial results, plus new records for yacht sales and employment at its Plymouth headquarters. The 2018 results signal the British manufacturer’s most successful year in its illustrious 54-year history. Financial results for the year ending 31 December 2018 show turnover of £340.3m (up £65m/24 per cent on 2017) and record opening project before exceptionals of £29.8m (up £10.9/173 per cent). EBITDA for 2018 was £32.8m up from £14.9m in 2017.

“I am really proud of what the Princess team has achieved in 2018. Their focus and dedication enabled Princess to build on the previous two years of solid financial figures and beat 2017’s record results,” comments Antony Sheriff, executive chairman of Princess Yachts. “The team launched six stunning new luxury yachts while growing revenues to over one third of a billion pounds.”

In 2018 Princess hit a record high for employment of 3,200. Recruitment has taken place across the business from engineering to exterior design, manufacturing to management, making Princess one of the UK’s largest specialist manufacturers. Princess also increased investment in is successful apprenticeship programme with 40 new apprentices brought into the business; apprentices now make up four per cent of the workforce with a 100 per cent retention rate following qualification.

Traditionally, the superyacht industry has been poor at educating governments and investors at quite how effective it can be as an employer and economic contributor. The success of Princess business model and its flourishing apprenticeship scheme is a testament to how the superyacht community can contribute to the wider community.

“These strong financial figures will enable us to build upon our unique, highly integrated infrastructure in Plymouth and invest even more in advanced technologies, new yachts and quality levels across design and production,” continues Sheriff. “We continue to forge ahead in our vision to be not just the highest quality, most innovative and successful luxury yacht manufacturer in the world, but also a great British employer.”

“It’s fantastic to see these latest figures from Princess Yachts," comments Lesley Robinson, CEO of British Marine. "The sector has recently celebrated its sixth consecutive year of growth, so it’s safe to say demand for UK manufactured luxury yachts is at an all-time high. We are proud that the UK remains an international hub for expertise and craftsmanship, particularly during uncertain economic times.”

According to The Superyacht Agency, Princess Yachts has delivered an average of 3.1 vessels per year since 2011. Since 2015, however, the British superyacht-manufacturing stalwart has delivered an average of four vessels per year and, if Princess’ order book proves to be accurate, the yard will have its most prolific year to date in 2019 with eight vessels scheduled for delivery.

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Record results & employment confirm Princess Yachts' position as the UK's leading luxury yacht brand

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Princess Yachts reports record-breaking revenue as orders exceed $1 billion

By Michelle Johnson | 12 April 2018 | Wealth ,

The luxury British yacht company says it’s on the crest of a wave as it launches new range

Luxury British yacht company Princess Yachts Ltd has exceeded $1bn (£750m) in revenues as orders for the first time in its 53-year history. The L Catterton -owned company also announced financial results for 2017 were a record turnover of £274.4m, with an Operating Profit of £7.9m.

Executive chairman Antony Sheriff announced in London that Princess had seen exceptional sales at last year's Cannes, Fort Lauderdale and Düsseldorf boat shows , and plans to capitalise on its success in 2018 and 2019 with multiple new yacht launches, building the company's fleet to a total of 23.The Plymouth-based company has also hired more than 500 staff members to keep up with the manufacturer's growth, including creating a robust internship programme.

“This has been a landmark year in the history of Princess. We have a clear vision to be the highest quality, most innovative and best luxury yacht producer in the world and it is gratifying to our highly skilled and dedicated 2,700-strong team that the market has responded in tune with our efforts," said Sheriff. "With our exciting launch plan this year of unique and exceptional yachts, coupled with our unprecedented $1 billion order book which stretches well into 2019, 2018 is set to be another record year in sales and profits for Princess Yachts.” >>

Related: These super fast yachts are providing owners with a whole new power trip

Earlier this year, Princess celebrated the launch of three new models, the V50, V65 and S78, with six additional launches by the end of 2018. One of these includes the revolutionary R35, a carbon fibre sports yacht which features a world-first Active Foil System, which improves the model's fuel efficiency and hydrodynamic stability, and was developed in collaboration with BAR Technologies.

“We pride ourselves on creating yachts of exceptional design and quality. Now, working together with BAR Technologies we are thrilled to be working on a brand-new fully carbon fibre yacht that will deliver an exhilarating experience through bold innovation and cutting-edge technology," Sheriff said. "We are confident this entirely new class of yacht, which is one of the most exciting and revolutionary products Princess has developed will become this year’s most sought-after product.”

Princess Yachts intends to continure this technological innovation, trickling new discoveries into its fleet and is particularly devoted to making improvements to its eco-friendly output in partnership with the Marine Consercation Society . The company was acquired in 2008 by L Capital 2 FCPR, an investment group co-sponsored by LVMH and Groupe Arnault, which in 2016 merged with Catterton to become L Catterton. 

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KPS Capital Partners to Acquire Controlling Ownership of Princess Yachts

Investment will Accelerate Company’s Growth and Innovation

New York, NY  (February 13, 2023) -- KPS Capital Partners, LP (“KPS”) announced today that it has entered into a definitive agreement to acquire a controlling equity interest in Princess Yachts (Holdings) Limited, (“Princess Yachts” or the “Company”), a leading global manufacturer of luxury motor yachts.  Existing stockholders will retain ownership in the Company.  Completion of the transaction is expected in the first quarter of 2023 and is subject to customary closing conditions and approvals. 

Princess Yachts is a leading builder of luxury motor yachts and is recognized for its timeless design, hand-crafted quality and exceptional seakeeping.  Headquartered in Plymouth, England, the Company’s unparalleled level of vertical integration – including on-site design, engineering and manufacturing – has helped position Princess Yachts as one of Britain’s most iconic luxury brands.  Princess Yachts serves a global customer base through its best-in-class international dealer network.  The Company has approximately 3,200 employees and operates five manufacturing facilities in Plymouth, England.

Ryan Harrison, a Partner of KPS Mid-Cap Investments, said, “We are excited to make this significant investment in Princess Yachts, a leading company in the luxury global yachting industry with an iconic brand grounded in British tradition, a remarkable and growing product range and worldwide reputation for quality and innovation.  KPS’ investment will accelerate Princess’ growth trajectory and fund numerous investments for its future.  We look forward to working with Princess’ existing stockholders, Chief Executive Officer Antony Sheriff, the senior leadership team and the talented employee base at Princess Yachts.”   

Antony Sheriff, Chief Executive Officer of Princess Yachts, said, “We are thrilled to partner with KPS for this exciting new chapter for Princess Yachts.  KPS and the Princess Yachts team are deeply committed to investing in the Company’s future while continuing to further strengthen our portfolio of best-in-class motor yachts.  With a current order book nearing a record $1 billion and many model lines sold into 2025, we have never been in a stronger commercial position.  Together with KPS’ tremendous track record of manufacturing excellence and investing in leading brands, we are now positioned to take Princess Yachts to the next level of industry leadership in quality and innovation.  Under KPS’ ownership, we will accelerate a range of growth and operational initiatives to build upon our long and successful history.”

Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to KPS.  Macquarie Capital and Latham & Watkins LLP served as financial advisor and legal counsel, respectively, to Princess Yachts.

About Princess Yachts

Princess Yachts is a leading builder of luxury motor yachts and is recognized for its timeless, understated design, unique craftsmanship and exceptional seakeeping.  Headquartered in Plymouth, England, the Company’s unparalleled level of vertical integration – including on-site design, engineering and manufacturing – has helped position Princess Yachts as one of Britain’s most iconic luxury brands.  Princess Yachts serves a global customer base through its best-in-class international dealer network.  The Company has approximately 3,200 employees and operates five manufacturing facilities in Plymouth, England.  For additional information, please visit www.princessyachts.com .

About KPS Capital Partners

KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $21.6 billion of assets under management (as of March 31, 2024).  For over three decades, the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment and general manufacturing.  KPS creates value for its investors by working constructively with talented management teams to make businesses better, and generates investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies, rather than primarily relying on financial leverage. The KPS Funds’ portfolio companies generate aggregate annual revenues of approximately $19.6 billion, operate 223 manufacturing facilities in 26 countries, and have approximately 47,000 employees, directly and through joint ventures worldwide (as of March 31, 2024). The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.

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End of an era at Princess Yachts as MD Chris Gates steps down

The Plymouth-based yard has paid tribute to its outgoing managing director, who spent 30 years at the helm of Princess Yachts

Princess Yachts has announced that one of the most influential figures in its history Chris Gates has stepped down as managing director.

However, after 30 years in his role, Gates is not leaving the company and will stay on as a special advisor to the executive chairman, ensuring that his expertise will remain a valuable part of Princess.

The news comes shortly after Princess announced impressive financial results , with profits, employment figures and yacht sales all at record highs.

In a statement, Anthony Sheriff, executive chairman and CEO of Princess, said: “Chris’s contribution to our company’s success is immeasurable and it is fitting that Chris’s last year as MD has been the most successful in our company’s history. We are grateful to retain Chris’s enormous experience within Princess in his new role.”

Meanwhile, Princess has confirmed that Matt Pears has been appointed as chief operating officer and will join the executive team with a remit to oversee the yard’s manufacturing, supply chain and quality operations.

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Plymouth's Princess Yachts set for growth after being taken over by US private equity giant

KPS Capital Partners takes controlling stake in Stonehouse-headquartered boat-maker and promises investment

• 10:00, 14 FEB 2023

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Princess Yachts has been taken over by a major American private equity firm in a deal which will take the Plymouth company “to the next level”. New York-headquartered KPS Capital Partners has entered into an agreement to acquire a controlling interest in Princess Yachts (Holdings) Ltd, and said the investment will accelerate the company’s growth and innovation.

Existing shareholders will retain ownership in the company under the deal. Completion of the transaction is expected by the end of March.

KPS runs a family of investment funds with more than US$14.4bn of assets under management. For more than 30 years it has been acquiring manufacturing businesses and its current portfolio includes component maker Autokiniton, light vehicle manufacturer AM General, Briggs and Stratton engines, battery maker C&D Technologies, and plant-based foods business Primient.

Antony Sheriff, chief executive of Princess Yachts, said the deal will enable the Plymouth firm, the UK’s largest manufacturer of luxury yachts, to grow and bring out new models. He said: “We are thrilled to partner with KPS for this exciting new chapter for Princess Yachts. KPS and the Princess Yachts team are deeply committed to investing in the company’s future while continuing to further strengthen our portfolio of best-in-class motor yachts.

“With a current order book nearing a record US$1bn and many model lines sold into 2025, we have never been in a stronger commercial position. Together with KPS’ tremendous track record of manufacturing excellence and investing in leading brands, we are now positioned to take Princess Yachts to the next level of industry leadership in quality and innovation. Under KPS’ ownership, we will accelerate a range of growth and operational initiatives to build upon our long and successful history.”

KPS’ portfolio of companies already generates total annual revenues of about US$22bn, operates 232 manufacturing facilities in 27 countries and combined has about 53,000 employees. KPS said it creates value “almost exclusively through operational and performance improvement”.

Ryan Harrison, a partner of KPS Mid-Cap Investments, said: “We are excited to make this significant investment in Princess Yachts, a leading company in the luxury global yachting industry with an iconic brand grounded in British tradition, a remarkable and growing product range, and world-wide reputation for quality and innovation. KPS’ investment will accelerate Princess’ growth trajectory and fund numerous investments for its future. We look forward to working with Princess’ existing stockholders, chief executive Antony Sheriff, the senior leadership team, and the talented employee base at Princess Yachts.”

Princess Yachts was acquired by L Capital 2 FCPR, an investment group co-sponsored by LVMH (Moët Hennessy Louis Vuitton) and Groupe Arnault in 2008. In January 2016, L Capital merged with Catterton to become L Catterton, now recognised as the largest global consumer-focused investment firm.

Last year L Catterton hired bankers at Macquarie to find a buyer for Princess Yachts . At the time, Princess Yachts told PlymouthLive it was looking to start discussions with potential investors to provide financial support needed to build a huge new factory at its Devonport operation.

In late 2021, PlymouthLive revealed Princess Yachts wants to build another factory in Plymouth’s freeport area in the South Yard so it can produce more vessels, employ more people and fulfil a US$1bn order book. The company was also undergoing a sales boost, now selling more than 300 boats annually.

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Princess Yachts reports record breaking sales

Thursday, April 12th, 2018

Written by: Marine Industry News

British Marine member, Princess Yachts Ltd, has delivered a record-breaking year in 2017, with its highest ever sales in its 53-year history, a robust return to profitability, and advance orders totalling more than US$1billion (£¾ billion).

Financial results for the 12 months to 31 December 2017 show record turnover of £274.4 million (+26.6% on 2016) and an Operating Profit before Exceptionals of £7.9m (2.9% of sales), representing a turnaround of £15 million (6.1% points) on its 2016 results and continuing the trend of strong year-on-year growth for the L Catterton-owned UK luxury yacht builder.

Princess’ recent performance at the industry’s biggest global sales events saw the company power ahead across its entire fleet. Princess’ advance order book currently totals in excess of $1 billion (£¾ billion), 20% higher than the previous year.

Princess is poised for an even more successful year in 2018. The year began with the launch of the V50, V65 and S78 models and will see an additional 6 launches by year-end, including the revolutionary carbon fibre R35 sports boat which will feature the innovative Active Foil System for world class performance, efficiency and stability. This unprecedented launch programme is underpinned by a stronger-than-ever presence at the world’s leading boat shows, intensified marketing programmes, and a significant investment in production and quality at its Plymouth headquarters. To support this growth, Princess has increased its workforce by over 500 team members in the last year.

Antony Sheriff, Executive Chairman of Princess Yachts, said: “This has been a landmark year in the history of Princess. We have a clear vision to be the highest quality, most innovative and best luxury yacht producer in the world and it is gratifying to our highly skilled and dedicated 2,700-strong team that the market has responded in tune with our efforts. With our exciting launch plan this year of unique and exceptional yachts, coupled with our unprecedented $1 billion order book which stretches well into 2019, 2018 is set to be another record year in sales and profits for Princess Yachts.”

This story is from British Marine.

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Plymouth's Princess Yachts makes record £30m profit

Luxury boat manufacturer has stellar year and pipeline looks buoyant well into 2020

• 09:15, 6 JUN 2019
• Updated 15:18, 11 JUN 2019

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The Plymouth-based luxury boatbuilder Princess Yachts has announced record profits of £30million, as its remarkable turnaround continues.

The company, which found itself in the red in 2015 and only three years ago announced it would cut 350 jobs, showed a £30million operating profit in 2018 on turnover of £340million.

The Stonehouse headquartered company has set new records for yacht sales and employment and is celebrating its most successful year in its 54 year history with f orward orders worth £700million and stretching through 2020

Financial results for the 12 months to December 31, 2018, show record turnover of £340.3million, up £65.9million, that's 24% on 2017. There was also a record operating profit before exceptionals of £29.8million, up £10.9million, or 173%. EBITDA (earnings before interest, tax, depreciation and amortization) for 2018 was £32.8m up from £14.9millio in 2017.

In 2018 Princess hit a record high for employment of 3,200. Recruitment has taken place across the business from engineering to exterior design, manufacturing to management, making Princess one of the UK’s largest specialist manufacturers. Princess also increased investment in its successful apprenticeship programme with 40 new apprentices brought into the business; apprentices now make up 4% of the workforce with a 100% retention rate following qualification.

In 2016 Princess Yachts brought in Antony Sheriff, former managing director of supercar manufacturer McLaren Automotive, as executive chairman, and pumped in a £100million investment. The company’s five boatyards in and around Plymouth are working at capacity.

“British industry is known for its craftsmanship,” Mr Sheriff said. “But there’s nothing like what we do here at Princess Yachts. We have craftspeople that make every part of the boat, apart from the electronics and engines. “This gives us unique control over quality. We make our boats for boaters – they’re not just floating gin palaces.” He said they were now “the preeminent in UK luxury yacht brand, and possibly the world”.

Princess makes yachts in the 35ft to 130ft range. Over the past three years the company has  launched 16 new models, with more on the slipway.

 “The yachting industry isn’t known for innovation,” Mr Sheriff said. “I have come from a background of supercars, where the concept of having no innovation was foreign.” The newest innovation is the R35, a 50-knot speedster built of carbon fibre, with a “active foiling” technology more familiar from racing yachts. They work with Italian designers Pininfarina, Isle of Wight naval architects Olesinski and a 100-strong in-house team.

More about Princess Yachts

Mr Sheriff said they had drawn up contingency plans for Brexit, but in the meantime a week pound was helping exports. Half of the boats built in Plymouth are sold in Europe, including the UK, a quarter go to the Americas, and a quarter to the rest of the world. Some foreign customers were holding off because of uncertainty about future tariffs, he said. But international sales continue to provide strong growth. At the Düsseldorf Boat Show in January this year Princess took orders for 21 yachts . Prices range from £300,000 to £17million. The company is now eyeing the Chinese market.

Princess Yachts’ exceptional figures were based on a combination of strong sales at the industry’s three biggest global boat shows – Cannes, Fort Lauderdale and Düsseldorf – and new levels of interest in the brand driven by increased investment in design and technology, progressive new global retail partners, and innovative marketing activity. 2019 began in equally buoyant form with strong orders secured at the 2019 Düsseldorf Boat Show in January.

The focus on luxury slots neatly into the portfolio of the majority shareholder, the French businessman Bernard Arnault, whose LVMH group owns brands including Louis Vuitton, Christian Dior and Veuve Clicquot.

Princess has continued to invest in a sustainable strategy to ensure that the business continues to drive forward product innovation and its manufacturing capabilities. As a result £14.7million (2017: £8.9millioon) was invested back into product development in 2018. With more than 75% of each yacht manufactured in Plymouth, Princess continues to invest in its UK sites, adding capital expenditure of £9.0million to the additions in 2017 of £3.7million.

To help drive this plan HSBC UK Bank plc and National Westminster Bank plc have refinanced Princess Yachts, backed by L Catterton (a partnership between Catterton, LVMH and Groupe Arnault), as part of the growth of the business, having constructed a multi-year funding facility as of May 16, 2019.

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Princess Yachts, a record year for the British shipyard

Princess Yachts Ltd has announced its financial results, as well as the figures regarding yacht sales and employment at its Plymouth headquarters. These results make 2018 the British manufacturer’s most successful year of its history. (in the opening photo, Antony Sheriff, Executive Chairman, Princess Yachts)

The 12 months to 31st December 2018 show record turnover of £340.3m (up £65.9m / 24% on 2017) and operating profit of £29.8m (up £10.9m / 173%). EBITDA for 2018 was £32.8m up from £14.9m in 2017.

Employment as well hit a record high in 2018, with 3,200 workers. Recruitment has taken place across the business from engineering to exterior design, manufacturing to management, making Princess one of the UK’s largest specialist manufacturers. Princess Yachts also increased investment in its apprenticeship program, with 40 new apprentices brought into the business; apprentices now make up 4% of the workforce with a 100% retention rate following qualification.

Antony Sheriff , Executive Chairman, Princess Yachts, said : “I am really proud of what the Princess team has achieved in 2018. Their focus and dedication enabled Princess to build on the previous two years of solid financial figures and beat 2017’s record results. The team launched six stunning new luxury yachts while growing revenues to over one-third of a billion pounds.”

“These strong financial figures will enable us to build upon our unique, highly integrated infrastructure in Plymouth and invest even more in advanced technologies, new yachts and quality levels across design and production. We continue to forge ahead in our vision to be not just the highest quality, most innovative and successful luxury yacht manufacturer in the world, but also a great British employer,” added Sheriff .

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Inside Princess Yachts: How are they built

Saturday 30th November 2019

The sports boat and motoryacht market is by no means deficient in boat buying options. The modern buyer is now able to explore a vast range of designers, builders and brands in a bid to tailor his boat to his favoured marine application before committing to a decision. In terms of choice and accessibility, that certainly has its merits, but as we continue to see established brands taking ever greater advantage of the production efficiencies offered by third-party suppliers, overseas workforces and shared construction facilities, a builder like Princess Yachts stands out as markedly different.

Based in Plymouth at the traditional maritime hub of England’s southwest, Princess Yachts expanded fast after the original founder moved into a rental shed on an offshoot of the River Tamar back in 1965. By the time the company had reached its 40 th anniversary in 2005, it boasted 81,000 square metres of space, 1,450 employees and global sales in excess of £140 million. And following its entry into the superyacht sector in 2011 with the first of the new M Class yachts, it continued to expand. The company we see today employs more than 3000 people across seven manufacturing plants and has raised production from 230 boats a year to more than 300. And yet the story of yacht production at Princess is not defined by scale of operations or speed of production. It’s defined by culture, process and mindset…  

Keeping it in-house One of the most fundamental differences at Princess Yachts is the fact that the company designs and builds 80% of its components in-house. There’s an argument that the yard’s relative geographical isolation has compelled it to become self-sufficient over the years but whatever the truth might be, Princess now runs dedicated in-house departments for a variety of specialist tasks that most builders are compelled to outsource. For instance, Princess operates its own mould shop, where it builds its own plugs with a pair of five-axis cutting machines and uses resin infusion to create everything from its decks and structures to the hull of its 40-metre flagship. The fact that the process is controlled by computer and put under vacuum helps ensure exact fibre-to-resin ratios for greater consistency, stiffness and strength. And in addition to reducing weight for uprated on-water speed and efficiency, the absence of cumbersome stiffening beams helps optimise internal volume for increased space and versatility. Princess also runs a dedicated metal shop, where all the stainless steel fittings are built, as well as its own specialist loom shop. Here, specialist technicians pre-assemble all the required wiring harnesses in preparation for the fit-out of a yacht – and while that gives Princess the ability to alter designs mid-build, it also enables them to incorporate customer requests with far greater flexibility than other yacht builders can achieve. One of the yard’s most impressive assets, however, is its furniture shop. This bustling department is responsible for building all the timber elements of a Princess yacht, including the structural pieces, bulkheads, sidelinings and headlinings. And whether fixed or freestanding, it also builds the furniture from scratch, enabling it to optimise continuity throughout each yacht by using timber of precisely the same grain texture, pattern and colour. As Paul Bailey, Commercial and Technical Manager at Princess Motor Yacht Sales, points out: “This stuff is not sourced off the shelf at the same impersonal third-party plant that other manufacturers might use. It’s designed and built by Princess’s own craftsmen, so whether a customer chooses to spec up his boat or buy the ‘standard’ package, a Princess yacht will always have the feeling of something special; something unique; something much more artisan and bespoke than you might experience from other builders.”

Creating a culture of quality One of the key drivers behind Princess’s fastidious approach is the Chairman, Anthony Sheriff. Having come from an automotive background, he invested heavily in a quality management system based around a process known as ‘No Fault Forward’. This involved rooting out any faults early on in the build process, so they could be remedied before the issue was passed forward onto subsequent production stages. Its effective integration would require a very structured and transparent approach to problem solving, so he established a dedicated Quality Control Division that has since grown from six people to around 30. The idea behind this investment was to transform ‘quality’ from a formal manufacturing protocol into a culturally ingrained attitude inhabited by everyone at Princess Yachts – and to help achieve that, the quality division is involved throughout the entire process, from the moment a build begins right through to a yacht’s entry to market. The division’s personnel go out on the boats themselves; they talk to the test engineers and the boat management professionals; they do everything they can to understand the customer experience because getting things completely right is the means by which Princess aims to differentiate itself from the competition. The team have an inspiring approach to the yacht design, the most striking exponents being the company’s full-scale mock-ups. To ensure that a new design works properly, the entire boat is built from plywood in exhaustive detail, enabling the designers to step on board and examine it first-hand – to explore head heights, door openings, spatial arrangements and furniture; to think about materials and real human usability.  It enables them to inhabit the space and get a genuine feel for it in a way that a 3D CAD drawing can never achieve. Things can then be tweaked before the final design is put into production and while it does of course involve a highly skilled and labour-intensive process, its value in terms of the end product is fundamental to what Princess does.

Equipping the customer Princess makes a point of encouraging customers to come to its Plymouth headquarters and witness first-hand how its boats are put together. It urges them to take an active role partly because it is proud of its standards and partly because a customer who is properly equipped to collaborate in the detailing of his yacht is likely to end up with something much better tailored to his needs. To that end, Princess has a team of designers dedicated solely to helping customers navigate their way through the options and select the choices that will be of greatest benefit to their favoured cross-section of boating activities. The company’s fastidious in-house approach has an impact on the long-term quality of the ownership experience in other ways too. For instance, in addition to safeguarding the standard of each finished yacht with exhaustive sea trials encompassing more than 3,000 checks, every part of the build process is archived and traceable. That enables the yard to examine original engineering diagrams for each yacht and to identify the ‘who, how and when’ of every individual element. It can then leverage its distributor network to provide bespoke support for a customer’s yacht throughout its lifetime, even after that yacht is sold on to new owners. As the industry’s appetite for international third party construction plants continues to gather traction, that degree of care, accountability and control looks set to become even more special than it is today.

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PRINCESS YACHTS LIMITED

Company number 00856633

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Next accounts made up to 31 December 2023 due by 30 September 2024

Last accounts made up to 31 December 2022

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Next statement date 28 June 2025 due by 12 July 2025

Last statement dated 28 June 2024

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• 30120 - Building of pleasure and sporting boats

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PRINCESS YACHTS LIMITED

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This information is available only for subscribed users, financial statements of princess yachts limited.

According to PRINCESS YACHTS LIMITED latest financial report submitted on 2021-12-31, the company has a Turnover of £308M , Gross-Profit of £6M while the Cash is £561,000.00 . Compared with the previous year, the company reported a Turnover increase of 18.51% , which is an equivalent of -57075000 . At the same time, the Gross-Profit went up by 482.76% , or by -27020000 .

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Turnover 2021

£ 308.3 million

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Working capital.

£ 32.1 million

Profit after Tax

£ -4.6 million

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PRINCESS YACHTS LIMITED currently employs 3066 people. Compared with the previous year, the company has reported a staff increase of 6% , which is an equivalent of 166 employees. In order to view contact information, including emails and phone numbers for all the employees working at PRINCESS YACHTS LIMITED and to export them in XL or to your existing CRM, you can subscribe to our platform here .

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PRINCESS YACHTS LIMITED Ownership and Group Structure

PRINCESS YACHTS LIMITED is a subsidiary of PRINCESS YACHTS (H**************** which holding company is RNO GRO****** , with the following registration number 00856633 . The holding group consists of a total of 7 companies, including RNO GRO****** , PRINCESS YACHTS (H**************** , FELIX ENGINEE************ , THE RENWICK G************ , PRINCESS YAC*********** .

PRINCESS YACHTS LIMITED Shareholders

There are currently 1 people with significant control at PRINCESS YACHTS LIMITED . One of of major shareholders of PRINCESS YACHTS LIMITED is PRINCESS YACHTS (HOLDINGS) LIMITED , which owns 16190000 ORDINARY shares, with a total value of 16,190,000 GBP .

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Princess yachts limited news & activities:.

PRINCESS YACHTS LIMITED has submitted new account statements and has reported a turnover of £308M, a 18.51% decrease year-over-year.

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The PRINCESS YACHTS LIMITED-based company said the adjusted EBITDA is now -£1M, compared with the previous year of 16.1 million.

PRINCESS YACHTS LIMITED number of employees has increased by 6% compared with previous year and now represents a total number of 3066.

Frequently Asked Questions regarding PRINCESS YACHTS LIMITED

Where is princess yachts limited registered office.

PRINCESS YACHTS LIMITED is located at NEWPORT STREET STONEHOUSE, United Kingdom.

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You can call PRINCESS YACHTS LIMITED at the following number +441752******

What is the website of PRINCESS YACHTS LIMITED?

PRINCESS YACHTS LIMITED website is http://www.princess-yachts.com

How many people work at PRINCESS YACHTS LIMITED?

According to the latest account statement, there are currently 3066 of employees working for PRINCESS YACHTS LIMITED.

How much revenue does PRINCESS YACHTS LIMITED make?

Based on the latest financial accounts submitted on 2021-12-31, the company made £308M for 2021, which went up by 18.51%.

What is PRINCESS YACHTS LIMITED EBITDA?

For 2021, PRINCESS YACHTS LIMITED has reported an EBITDA of -£1M, which went down by -1393.24% compared to previous year.

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