Marine industry market monitor Superyacht insight - Extract

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1 Marine industry market monitor Superyacht insight - Extract Monaco, September 27 th 2017

2 Disclaimer This report is not intended to be used as a general guide to investing or as a source of any specific investment recommendations and should not be construed as research or investment advice. The views and opinions expressed in this report are for informational purposes only and do not constitute a recommendation by Deloitte to buy, sell, or hold any security or to make or refrain from making any investment decision whatsoever. All information, estimates, projections and assumptions contained in this document are based on publicly available data and documents, which have not been independently verified by Deloitte; other information were obtained from challenging interviews with industry experts and main operators. Deloitte does not express any form of guarantee about the accuracy, completeness or trustworthiness of the data and information contained herein and declines any responsibility for any omission, error or interpretation of the data and information provided herein, and for any decision that may be undertaken on the basis of the data and information presented herein. The contents of this report is designed for the sole use of Nautica Italiana Association Board and its associates and Fondazione Altagamma. The materials shall not be copied or given to any third person or entity without the prior written consent of Deloitte. Public and private presentations of this report and/or parts of it, can be delivered just by Deloitte representatives. This document and our work do not constitute an investment advice. This document must not be copied, either in whole or in part, and is not intended for distribution to third parties without our prior written consent. 2

3 Global boating market: retail value trend Evolution of global new boats market value (Billions of ; Percentage) +6,1% ~23,0 +4,9% ~25,0-6,3% +10,3% +11,0% ~ 22,9 ~15,0 17,0 19,0 ~ 20, pre-act 2017 est Note: The new boating market does not includes the PWC and other small boats less than 2,5 meters Source: Deloitte analysis and estimations based on countries boating associations, specialized media providers and company data and interviews with global operators 3

4 Superyachts market: retail sales trends 110 Evolution of superyachts sales market (Number of boats ; 2009=100 Index) Volume 2016 YoY Order book 295 2,7% 60 New orders Deliveries ,5% -4,8% Italy OB units share 55% 52% 46% 50% 46% 42% 42% 43% 49% In 2017 the Global Order Book has reached 314 units (+6,4% vs 2016) Source: Deloitte analysis and estimations based on countries boating associations, specialized media providers and company data and interviews with global operators 4

5 Motor superyachts order book: countries gross tons share Main countries share 2017 (% ; Gross tonnage) 31% 34% 25% 29% % 18% 10% 8% 2% 2% 3% 2% 2% 2% 6% 5% Italy Nethelands Germany Turkey China Australia USA RoW In build 2017 (K tons) Source: Deloitte analysis and estimations based on countries boating associations, specialized media providers and company data and interviews with global operators 5

6 Superyachts pre-owned market 2016 Superyachts pre-owned market 2016 by boat type Units break by boat length Value share 2,1B Units share 227 boats 100% 4% 11% YoY % -7% % 10% 22% -22% 9% 7% 10% -3% 2% 92% 8% 90% 10% 63% 1% 9% 2016 units % Sailboats Motoryachts 65mt mt 41-50mt 30-40mt Source: Deloitte analysis based on Fraser Yachts data and interviews with global operators 6

7 Italian shipyards value of new boats production 2016 New boats Value of Production by shipyard 2016 (Billions of ; Percentage) Key insights on Italian Shipyards 1,8 0,1 0,1 2,0 Inboard Inboard market growth is driven by the segments meter composite and gigayachts over 70 meters through a significant recovery of the European market Outboard & Inflatables The boom of inflatables drives the development of the outboard segment, which in best cases grows at a rate 20% higher than the past years, favored by a demand increase in the Southern European area Inboard Source: Deloitte market monitor Outboard & Inflatable Sailboats VoP new boats Break % 90,4% 3,1% 6,5% 100% Sailboats Sailboats present a positive trend driven by a strong positioning of Italian shipyard in the custom segment (medium and large size) which are perceived as premium vs foreign competitors 7

8 Italian shipyards value of production evolution Value of production E (Billions of ; Percentage) +6,2% 3,2 3,6 3,6 2,7-21,7% 2,0 1,8 1,4 1,4 +10,1% 1,5 1,7 YoY +13% 2,0 2, E YoY % - 11,4% 1,2% -25,7% -24,8% -11,0% -24,4% 1,5% 7,9% 16,4% 15,3% 13,0% Source: Deloitte market monitor 8

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