Please select your home edition
Edition
T Clewring J-class

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.
Newport Boat Show 2016 660x82Wildwind 2016 660x82Schaefer 2016 Ratchet Block 660x82

Related Articles

PredictWind - One stop shop
PredictWind have taken the bold step of adding government provided forecasts to their award winning forecasting software PredictWind the world leader in forecasting believe that more is better, and have taken the bold step of adding government provided forecasts to their award winning forecasting software.
Posted on 15 Aug
Marine Resources job updates
Marine Resources specialises in providing expert recruitment services to the leisure marine industry worldwide. Marine Resources specialises in providing expert recruitment services to the leisure marine industry worldwide. Jobseekers register your CV now to receive the latest vacancies and be matched to your ideal job. Employers choose from a variety of recruitment options which include a full consultancy service as well as a unique job advertising package.
Posted on 11 Aug
America's Cup - Southern Spars to build AC50 for Emirates Team NZ
Southern Spars has been appointed to build Emirates Team New Zealand’s AC50 wingsailed foiling catamaran One of the world's leading composite engineering companies, Southern Spars has been appointed to build Emirates Team New Zealand’s AC50 wingsailed foiling catamaran for the 35th America’s Cup campaign. The move marks a shift away from Cookson Boats who have been Team New Zealand's boatbuilder since 2000. No reasons have been given for the decision to change the builder.
Posted on 24 Jul
Upffront.com - Tuff Luff and Harken Headfoils
Upffront.com is a comprehensive online purchasing platform for performance sailing hardware and rigging systems Upffront.com is a comprehensive online purchasing platform for performance sailing hardware and rigging systems; orders are processed 24 hours a day, 365 days a year and we deliver to customers located anywhere in the world.
Posted on 8 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
Free $US3,000 Carbon Vang with SouthernFurl boom orders in July
Southern Spars is giving a free carbon vang - valued at US$3,000 - with SouthernFurl in-boom furlers ordered in July Southern Spars is giving away a free carbon vang - valued at US$3,000 - with all of their SouthernFurl in-boom furlers ordered in July. Carbon gas vangs make a great addition to the furling boom package, though if you’d prefer to keep your existing one, Southern Spars will offer you a 5% discount on the price of your boom instead.
Posted on 29 Jun
11th Hour Racing to present at annual Green Sports Alliance Summit
11th Hour Racing is headed to Houston, Texas, to present at the annual Green Sports Alliance Summit 11th Hour Racing is headed to Houston, Texas, to present at the annual Green Sports Alliance Summit, June 28-30, the world’s largest gathering for the sports community around sustainability, including both professional and collegiate sports teams, leagues and venues.
Posted on 25 Jun
PredictWind - Stunning new forecast maps
When developing the Offshore App, we had to rethink maps for offshore sailors. When developing the Offshore App, we had to rethink maps for offshore sailors. The mapping technology was rebuilt to be faster, have smaller downloads and be able to smoothly animate PredictWind’s advanced forecasts. Following the success of the Offshore App, we’re releasing this unique display technology across all other platforms, including the forecast website, Android and iOS Apps
Posted on 24 Jun
Extreme Sailing Series™ partners with Cisco Systems
The global technology company will provide exclusive networking solutions that will transform wireless connectivity The first venue at which members of the public, race officials and sailors will benefit from the Cisco WiFi solutions will be Cardiff – the third Act of the 2016 season – where the action gets underway on the water on 23 June. As an Official Series Supplier, Cisco will provide similar facilities at the remaining Acts of 2016.
Posted on 22 Jun
Volvo Ocean Race makes key changes to its leadership team
The re-shuffle which follows Mark Turner’s appointment as CEO, is aimed at driving innovation of sailing’s offshore race Lawrence is currently Race Director of the Extreme Sailing Series, and arrives with bags of sailing and commercial expertise, having previously managed events in all of the territories that will be visited during the 2017-18 edition.
Posted on 21 Jun