- Sales performance indicators for powerboats from NMMA data dashboard show robust growth on a 12-month rolling year-over-year basis
- Victory Marine looks at vertical growth to create a private-label design and expand its inventory and sales team
- The company participated in the Fort Lauderdale International Boat Show with an aim of meeting with prospects and increasing listings
- Wholly owned subsidiary Excalibur Trailers USA Corp. to steer revenue growth into 2019 yacht sales and boating season
Victory Marine Holdings Corp. (OTC: VMHG) is a recreational marine provider engaged in yacht sales for both new and used boats, brokerage and consultancy services. Located in Miami, Florida, the company has a large inventory of boats, offers insurance services to yacht owners and offers financing arrangements to buyers. With over 20 years of combined industry experience, Victory Marine’s team is set to capture its fair share of the market through negotiated partnerships with manufacturers.
The latest data dashboard version (http://nnw.fm/u4u9C) of the National Marine Manufacturers Association (NMMA) shows impressive wholesale and retail sales performance indicators. For instance, the retail unit sales of new powerboats continued to enjoy 83 consecutive months of growth, with sales up by three percent on a 12-month, year-over-year basis through August 2018.
On the other end, wholesale shipments of powerboats through July 2018 ended on a strong note, with growth of 12.3 percent on a rolling 12-month year-over-year basis. This, combined with the positive growth signal from the U.S. Purchasing Managers Index, shows a vibrant market that Victory Marine can leverage to establish itself as a key industry player.
In 2017, the NMMA reported that the industry recorded sales of $39 billion. This presents a huge opportunity for yacht sales, brokerage and consulting companies like Victory Marine to spread their reach, both vertically and horizontally. On the vertical front, the company has already established partnerships with select manufacturers. This is part of a long-term strategy to establish its own pipeline of unique, private-label design.
The near-term strategy of the company is to expand its inventory base and grow its sales team. This involves hiring experienced and qualified professionals, as well as participating in exhibitions that potential clients frequent. One such exhibition that the company took part in was the Fort Lauderdale International Boat Show (FLIBS) (http://nnw.fm/u4u9C). The show, held from October 31 to November 4, brought together over 1,500 boats and more than 110,000 visitors drawn from over 50 countries.
In an earlier address, before the exhibition, Victory Marine Holdings CEO Orlando Hernandez noted that the show is one of the largest and most prestigious in the world. He also expressed optimism that the 2019 boating and yacht sales season, which the show ushers in, means a lot in terms of revenue potential for the company.
To enable the company to position itself as a world-class marine trailer manufacturer, Excalibur Trailers USA Corp., its wholly owned subsidiary, was granted approval by SAE (Society of Automotive Engineers) International. This will enable it to build new custom trailers for both commercial and recreational boat transport. All powerboat segments are reporting increasing demand for trailers, and this gives a positive outlook to Excalibur. In terms of states, Florida leads the pack in trailers, powerboats and accessory sales, reporting a 10 percent increase in 2017 to $2.9 billion. Texas and Michigan are the next states in the queue with $1.7 billion and $982 million in sales respectively.
This growing demand creates a strong revenue stream for Victory Marine that is very scalable. Going into the busy boating season, the company is looking forward to seeing how the revenue stream will strengthen and align it toward its long-term vision.
For more information, visit the company’s website at www.VictoryMarineHoldings.com
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