Please select your home edition
Edition
Safety at Sea - Baltic - 2

Navico reports record profitability and increased market share in 2012

by Andrew Golden on 27 Feb 2013
Navico — the world leader in recreational marine electronics, selling under the Lowrance, Simrad and B&G brands — has announced its operational performance results for the fourth quarter and the year ending December 31, 2012.

Revenue in the fourth quarter increased by 27% compared to the same period in 2011, ending the year on the same strong note as earlier quarters in 2012. Overall, the revenues for the year were up 15% to MUSD 256.0 in a flat market. This resulted in Navico increasing its global market share by around four percentage points, which further strengthens its position as the undisputed leader in recreational marine electronics.

The 2012 revenue performance demonstrates increasing strength across all three brands and continues the trend of the previous two years, when each of the Navico brands — Lowrance, Simrad Yachting and B&G — gained market share, and grew faster than any other major marine electronics brand. Revenues increased in all geographic markets in 2012, but were particularly strong in the United States.

Earnings showed significant growth in 2012. Navico’s gross margin increased by 5.5 percentage points and operating earnings (EBITDA) grew by 43% to MUSD 41.4, which are the best results in the Company’s history. As a result of its strong cash position, Navico recently acquired Swedish marine electronics distributor, Sportmanship Marin and is looking at other potential acquisitions.

'2012 has been a fantastic year and shows how well the Company has come together,' said Leif Ottosson, CEO of Navico. 'The global heritage that comes from the merger of three companies from three different parts of the world is now working to our advantage. Extensive investments into developing new technology and new products have resulted in an unparalleled pace of new product introductions, and this has been highly appreciated by the market. It seems that our customers also like our three brand strategy and its focused solutions for each boating segment.'

'B&G is the only brand in the world dedicated to sailing,' continued Ottosson. 'Lowrance continues to dominate the fishing market and Simrad Yachting is focused on ‘open water’ segments including offshore and sport fishing, power cruising and luxury motor yachting, as well as its heritage — professional workboat markets. Our branding strategy, coupled with an unparalleled number of new product launches, is the core of our success.'

For more information on Navico, or its entire line of Lowrance, Simrad Yachting and B&G marine electronics, please visit Navico.
Guy Nowell - Yellow 660Barz Optics - Melanin LensesBakewell-White Yacht Design

Related Articles

Ocean Marina Pattaya Boat Show grows Thai boating market
Ocean Marina Pattaya Boat Show the one and only boating and lifestyle showcase in the Gulf of Thailand. Ocean Marina Pattaya Boat Show returns for a fifth year with the largest display of boats and lifestyle products yet. Held from 24 – 27 November 2016 at Ocean Marina in Pattaya, Ocean Marina Pattaya Boat Show has been a catalyst for the Gulf of Thailand's marine industry promoting the onshore facilities and offshore cruising grounds worldwide.
Posted on 29 Jul
Boating Syndication Australia to unveil largest-ever display at SIBS
The highlight of the display will be the first on-water display in Australia of the Fibrafort F400 Gran Coupe. The highlight of the display will be the first on-water display in Australia of the Fibrafort F400 Gran Coupe - all the way from Brazil. According to BSA's Andrew Young, the Fibrafort F400 is perhaps the best-built 40-foot cruisers since the Riviera M400 was released.
Posted on 28 Jul
Doors open on Thursday for Sydney International Boat Show
Doors open on Thursday for the 49th running of the Sydney International Boat Show. Doors open on Thursday for the 49th running of the Sydney International Boat Show. This year will prove to be educational, entertaining and a great day out for all the family.
Posted on 27 Jul
Streaker Boats launches SCB Hulls 100% timber free
When fibreglass became the material of choice in the 1960’s boats were built with a timber floor and transom. When fibreglass became the material of choice in the 1960’s boats were built with a timber floor and transom. Some boat builders haven’t changed their construction technique and many boats are still built this way, but not at Streaker Boats.
Posted on 26 Jul
Check out Grady-White at the Sydney International Boat Show
We’re excited to be presenting a Grady-White 336 Canyon, one of our most popular models. Sydney International Boat Show kicks off Thursday 28 July at 10am and we’re excited to be presenting a Grady-White 336 Canyon, one of our most popular models.
Posted on 22 Jul
Psst... want to buy a marina? RPM up for sale.
JLL appointed to handle sale of Royal Phuket Marina Royal Phuket Marina has appointed Mike Batchelor and Aaron Desange from JLL Hotels & Hospitality Group to offer the property for sale. Following serious interest from an international buyer, RPM Chairman, Mr. Gulu Lalvani, has decided to officially put the development on the market. As exclusive advisor, JLL will handle the sale through an expression of interest campaign closing September 2016.
Posted on 7 Jul
Barz floating sunglasses - Ideal for sailing in rough conditions
Our SAN JUAN floating model fitted with 1.1mm Acetate Lenses have a density of 0.95 GM/ML Barz floating sunglasses float in rough conditions. Most sunglasses that say they float, only float in the bathtub as once they break surface tension (or if there is any movement on top of the water)... down they go...
Posted on 7 Jul
Sydney International Boat Show – A pilgrimage for boaters
Connecting the two is a ferry service that also gives show visitors a bonus voyage across the magnificent Sydney Harbour The event is well known for delivering a comprehensive variety of products, across all boating sectors. Joining local visitors, the show also has a large number of guests from across the country as well as overseas, making it the ideal location for the marine industry to use as a base to launch new products and services.
Posted on 5 Jul
Mercury FourStroke spends 2300 hours with the crocs
Every day Whitsunday Crocodile Safari takes tourists into the mud-filled mangrove estuaries along the Proserpine River It’s a daunting environment – tropical heat, mud and about 150 crocodiles. Every day Whitsunday Crocodile Safari takes tourists into the mud-filled mangrove estuaries along the Proserpine River, in Queensland’s tropical north, where they get up close with some of our most formidable wildlife.
Posted on 1 Jul
Monte Carlo Yachts arrive at Thailand's Ocean Marina
Monte Carlo to participate in Pattaya Boat Show 2016 The rising importance of the Gulf of Thailand was further underscored recently with the sale of two luxury Monte Carlo Yachts into the region, and a visit to Ocean Marina by Managing Director of Monte Carlo Yachts, Mr. Fabrizio Iarrera, to see first hand the world-class onshore facilities and offshore cruising potential that is attracting more and more luxury boats to the region each year.
Posted on 30 Jun