The business has faced financial hurdles in recent years, including a £69m pre-tax loss in 2022, leading to 250 layoffs in December 2024. However, the company has unveiled a long-term growth strategy extending to 2030, driven by strong sales momentum in 2023.
In 2022, Princess Yachts faced financial difficulties, revealing a £69m pre-tax loss. The company, employing around 2,700 people, had earlier reduced its workforce by 40 office roles. Despite these setbacks, the firm saw a £20m revenue increase in 2023, reaching £310.5m, even as supply chain disruptions persisted.
KPS Capital Partners, a private equity firm, acquired Princess Yachts in March 2023 and invested approximately £54m. This funding supported the company's operations and future plans, including improvements at the South Yard production facility.
The company has restructured with a focus on continuous improvement and an ambitious strategy for change. By late 2023, Princess Yachts reported significant progress in its efforts, expecting a £27m improvement in EBITDA for 2024 and a return to profitability. In 2023, an investment of £12.6m led to the launch of three new boats, boosting commercial success.
Princess Yachts plans to introduce at least two new models annually over the next five years. With an order book exceeding £700m into 2026, 90% of their 2025 production capacity is already sold, with some models ordered into mid-2026.
Upcoming Debuts
As part of its growth strategy, Princess Yachts has announced exciting new launches. The global debut of the Princess F58 flybridge boat will headline Princess Yachts' six-model exhibition at Boot Düsseldorf 2025. This model is expected to draw significant attention, evidencing the shipyard’s commitment to continued improvement.
Additionally, Princess Yachts revealed plans for the first all-new Princess X90, which will debut in 2026. This model already promises to be a popular addition to the Princess X Class series, further solidifying the company’s position.
In 2023, CEO Will Green described the year as critical for the company. Supply chain issues impacted operational efficiency and production, but the acquisition by KPS Capital Partners provided needed capital and expertise. This led to a focus on productivity and cost reduction, resulting in a positive EBITDA turnaround in 2024 and improved financial prospects for the future.
Exciting New Models
In 2024, Princess Yachts captured the spotlight with the launch of three impressive models: the V65, S65, and X95 Vista. The V65 epitomizes the classic V Class design, delivering exceptional performance with its sleek profile and spacious layout. The S65, part of the dynamic S Class, blends sporty elegance with impressive speeds of up to 36 knots, ideal for those seeking versatility and style. Meanwhile, the X95 Vista pushes the boundaries of the X Class with its imaginative open-plan living concept and expansive spaces, redefining long-range cruising.
Watch our world-exclusive test drive of the Princess S80, captured ahead of her debut at last year’s Cannes Yachting Festival. Our chief boat tester, Jack, took the helm and pushed her to the limit, uncovering what makes this yacht a standout in its class. Don’t miss our in-depth yacht review to discover the performance, design, and innovations that set the Princess S80 apart.
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BOAT TESTPrincess S80 Review (2024 Edition)
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