Please select your home edition
Edition
Allen Brothers

The industry gauges consumer confidence during winter - MarineBusinessWorld North America newsletter

31/01/2024


The industry gauges consumer confidence during winter - MarineBusinessWorld North America newsletter

Maritimo 2023 S-Series LEADERBOARD

2024 fill-in (top)

MarineMax Jupiter Palm Beach Service Center - photo © MarineMax


Dear Recipient Name

Positive news from MarineMax In. (NYSE: HZO), as the world's largest recreational boat, yacht and superyacht services company, announced results for its first quarter ended December 31, 2023. Fiscal 2024 First Quarter Summary: Record December quarter revenue of $527.3 million. Same-store sales increase of 4%. Gross profit margin of 33.3%.

"I'm proud of our team's ability to drive a strong close to the December quarter, generating the highest first quarter revenue in our history. This growth came despite a challenging retail environment which required us to take more aggressive pricing actions than expected," said Brett McGill, Chief Executive Officer and President of MarineMax. "Our pricing actions did result in lower gross margins and profitability. This was primarily due to increased discounting on certain boat models in response to the softer retail environment, as well as a greater mix of larger boats, which historically carry a lower gross margin than other product categories."

Exhibitors delight at good sales, positive discussions and many new international customer contacts -  boot 2024  - photo © boot Düsseldorf
Exhibitors delight at good sales, positive discussions and many new international customer contacts - boot 2024 - photo © boot Düsseldorf

From Europe, and after nine days of boot Düsseldorf, the boating and water sports industry can deliver a positive verdict on the trade fair. "We had many new contacts at our stands and were able to conclude numerous deals. The right visitors ensured very good sales figures in the boat sector as well as for motors/engines, boards, diving equipment and accessories. boot 2024 provided the perfect start to the season," explains exhibitor spokesperson and trade fair president Robert Marx.

Despite very difficult conditions - from the arrival of winter weather to strikes - boot Düsseldorf once again demonstrates its excellent international standing in the industry. Accordingly, CEO & President of Messe Düsseldorf Wolfram Diener is very pleased with the positive outcome: "With 214,000 visitors from 120 countries, we have achieved a good result and can be more than satisfied in these challenging times. Customers and exhibitors have a unique platform for networking here. It's great, we were once again able to underpin boot Düsseldorf's leading position with an inspiring business atmosphere in the exhibition halls."

Discover Boating Minneapolis Boat Show - photo © National Marine Manufacturers Association
Discover Boating Minneapolis Boat Show - photo © National Marine Manufacturers Association

And back home, the Discover Boating Minneapolis Boat Show, in partnership with Progressive Insurance, reports strong crowds during its four-day run, attracting more than 25,000 attendees. Overall, feedback from exhibitors has been positive, with several reporting solid sales and leads from the show, particularly among entry-level buyers. "We outpaced pre-Covid sales and are satisfied with the results of this year's boat show following a record 2023 selling year," noted John Wooden, President, River Valley Marine. "We were pleasantly surprised with the amount of entry level price point buyers. We look forward to returning in 2025."

J Composites 2022 - J45 v4 MPU   Marskeel 2019 600x500

This week, The National Marine Manufacturers Association (NMMA), became the newest member of the eFuel Alliance. The eFuel Alliance stands for fair competition and equal competitive condition for all relevant emission reduction solutions and aims to create the conditions for the industrial production and widespread use of CO2-neutral fuels from renewable sources of energy.

"The eFuels Alliance brings much-needed focus to one of the most pragmatic and meaningful ways to continue to reduce emissions from the existing recreational boat fleet, and we're excited to collaborate with other industries and participate in important discussions on bringing myriad sustainable fuel options to the market," said Jeff Wasil, Senior Director of Environmental Health and Safety at the NMMA.

"Recreational boats operate very differently from land-based vehicles and require multiple technology solutions to decarbonize. With approximately 30-million recreational boats in operation globally, sustainable marine fuels, including the development of e-fuels, are essential to further reduce emissions from our sector. As we chart the course for continued decarbonization in the marine industry, we are looking forward to bringing our industry's research and experience to the eFuels Alliance and are thrilled about the opportunity to learn from the accomplishments achieved thus far within Europe by the alliance and how they may apply in United States."

Giesler Boats now offering Elco Electric Propulsion - photo © Martin Flory Group
Giesler Boats now offering Elco Electric Propulsion - photo © Martin Flory Group

On the same subject, sailors replacing transom-mounted propulsion are increasingly opting for clean, quiet, eco-friendly Elco EP-series outboards. Providing the horsepower comparable to a 2- or -4-stroke gasoline engine, they can extend the serenity of sailing to even motoring in and out of a harbor. Having sufficient power to get back to the dock when becalmed or before a front moves in is often a concern for sailors. Elco outboards deliver over 90% efficiency and an impressive thrust ratio. Combined with an extensive range, they provide sailors with the peace of mind that a safe haven is always quickly within reach.

Rolls-Royce opens mtu Remanufacturing and Overhaul Center in U.S - photo © Rolls-Royce
Rolls-Royce opens mtu Remanufacturing and Overhaul Center in U.S - photo © Rolls-Royce

More propulsion news from Rolls Royce. Their Power Systems Division this week announced it has opened a new Remanufacturing and Overhaul Center on its mtu Aiken campus in South Carolina. The new facility is connected to the existing manufacturing operations and represents a low double-digit million-dollar investment. It supports the company's service initiative and sustainability approach.

The new 69,000-sq.ft. (6,400 sqm) facility, which was announced in 2021, brings formerly outsourced workshop and warehouse operations in-house and expands them to provide remanufacturing and overhaul of mtu Series 2000, Series 4000 and Detroit Diesel 2-Cycle engines and components, plus internal and external rework services. Initially focused on parts remanufacturing for after sales support, the facility targets to remanufacture 20,000 parts per year once fully operational, thus greatly improving spare part availability and customer support in the region.

More North American marine industry news at www.marinebusinessworld.com/NorthAmerica - we update the news daily.

Stay on track,
Peter Rendle - peter.rendle@worldmarine.media

Maritimo 2023 M600 MPU   Selden 2023 CXe


Freedom Boat Club delivers a record-setting 600,000+ member trips in 2023
Freedom Boat Club, the world's largest boat club operator, today announced it delivered more than 600,000 member boating trips across its global footprint in North America, Europe and Australia throughout 2023.

NMMA joins NMTA, RBAW, and OYC for advocacy day in Washington State
Last week, NMMA joined the Northwest Marine Trade Association (NMTA), Recreational Boating Association of Washington (RBAW), and the Olympia Yacht Club (OYC) for their annual Boating Advocacy Day in Olympia, Washington on January 25.

Imtra salesman Ed Dickson retires
IMTRA, the leading manufacturer and importer of quality solutions and products for the marine, energy and transportation markets, announced today the retirement of Ed Dickson, who is stepping back after 37 years in sales with the company.

Vaikobi 2023 Gloves - MPU   2024 fill-in (side)
CRAB announces new Board Members & Officers for 2024
Chesapeake Region Accessible Boating (CRAB), a leader in Adaptive Boating and therapeutic recreation on Chesapeake Bay, is honored to announce the addition of George Schulze and Keith Misner to its Board of Directors.

Watersports industry delivers very good verdict on boot 2024
After nine days of boot 2024, the boating and water sports industry can deliver a positive verdict on the trade fair. "We had many new contacts at our stands and were able to conclude numerous deals.

Retrofitting automation in drystack operation is easy
At a marina, there's no better use of space for storing boats than a drystack facility, but they can be maintenance- and personnel-heavy.

Barz Optics 2023 MBW 1   North Sails Performance 2023 - MPU
NMMA joins eFuel Alliance
This week, The National Marine Manufacturers Association (NMMA), became the newest member of the eFuel Alliance.

MarineMax record December quarter revenue
MarineMax, Inc. (NYSE: HZO), the world's largest recreational boat, yacht and superyacht services company, today announced results for its first quarter ended December 31, 2023.

For sailing, electric is the way to go
Sailors replacing transom-mounted propulsion are increasingly opting for clean, quiet, eco-friendly Elco EP-series outboards.

Cyclops Marine 2023 November - MPU   RS Sailing 2021 - MPU
Coast Guard Foundation announces 2024 Scholarship Opportunities
The Coast Guard Foundation, a non-profit organization committed to strengthening the Coast Guard community and service by supporting members and families, announced today that it has kicked off its 2024 scholarship season.

Marine Products Corporation reports fourth quarter and full year 2023 Financial results
Marine Products Corporation (NYSE: MPX) ("the Company"), a leading manufacturer of fiberglass boats, announced its unaudited results for the fourth quarter and full year ended December 31, 2023.

More than 25,000 boating enthusiasts turn out for the Minneapolis Boat Show
2024 Discover Boating Minneapolis Boat Show, in partnership with Progressive Insurance, reports strong crowds during its 4-day run, attracting more than 25,000 attendees.

Allen 2022 - TiiTAN MPU   Marine Auctions 2019 600x500
Florida Legislature tries to solve the abandoned, derelict vessel issue
The state of Florida has long had a challenge in balancing the rights of responsible boat owners against the owners of poorly maintained, derelict vessels that are rarely make-way, often used as domiciles, and are hazards to navigation and environment.

Marine Resources latest jobs: Explore the latest roles in the industry
Embrace this chance to elevate your professional journey and create a significant impact. This week, we highlight exciting positions like a Senior Marine Designer in Hampshire, an Office Administrator in Portsmouth, and a GRP Laminator in Peterborough.

Henri-Lloyd grows its international representation with new distributor appointments
Following the launch of its Yachting and Boating range at METSTRADE, Henri-Lloyd has confirmed the appointment of international distributors in key countries.

Rolls-Royce opens mtu Remanufacturing and Overhaul Center in U.S
Rolls-Royce Power Systems Division today announces it has opened a new Remanufacturing and Overhaul Center on its mtu Aiken campus in South Carolina (USA).

Miami Industry Breakfast set for Feb. 15 - Tickets now available
The Miami Industry Breakfast will be held during the 2024 Discover Boating® Miami International Boat Show® on Thurs., Feb. 15 from 7:30 - 9:30 am at the Miami Beach Convention Center's Sunset Ballroom.

Selden 2020 - FOOTER

North Sails Performance 2023 - FOOTER

This email was sent to the.recipients@email.address by YY Online Services Ltd.
Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW
Registered in England No. 7895890

Our records show that you signed up to receive news from us on 1 January 2000

Please do not reply to this message as this address cannot receive replies.

You can unsubscribe at any time or email us here if you encounter any difficulties
Allen Dynamic 40 FooterNorth Sails Performance 2023 - FOOTERSelden 2020 - FOOTER