Hill Robinson Separates Procurement and Fleet-System Leadership
Matthew Hrachovec has become Head of Procurement at Hill Robinson, while Peter Van Toor moves into a new Fleet Management System product-owner role.
Princess Yachts recorded £35.9m adjusted EBITDA and £17.6m operating profit in 2025, despite lower revenue and production volumes.
Princess Yachts has reported operating profit of £17.6 million for the year ended 31 December 2025, compared with an £8.1 million operating loss a year earlier. The company’s financial announcement, published by British Marine on 21 September, also puts adjusted EBITDA at £35.9 million.
That EBITDA figure compares with £13.4 million in 2024 and a £24.5 million loss in 2023. Profit before tax was £9.4 million, contrasting with a £17 million pre-tax loss for the preceding year.
Revenue declined to £321.8 million from £378.1 million in 2024, with Princess citing lower production volumes and softer market conditions. The result therefore does not reflect higher sales volume alone but a change in the economics of the yachts being built.
The manufacturer attributes the improvement to manufacturing productivity, procurement, tighter cost control and commercial discipline. Those are the company’s explanations for its performance rather than proof that the wider luxury-yacht market has recovered at the same rate.
Princess was acquired by KPS Capital Partners in 2023 and has since worked through an operational transformation programme. Its latest update describes improvements to quality, sourcing and accountability across manufacturing while matching production capacity more closely with demand.
Management says gross profit per yacht improved during 2025. That measure matters for builders because a healthier margin can coexist with lower overall revenue, although the full picture also depends on cash flow and the balance sheet.
Princess builds yachts across several size categories, including models in the superyacht range, so the result is relevant to customers and suppliers following the British yard. The announcement says profitability continued to strengthen in the first half of 2026 but does not provide a full-year 2026 outcome.
The year-end figures should be read as historical accounts rather than a forecast for future deliveries or ownership costs. This article uses the company figures carried in British Marine’s announcement and its accompanying Princess-specific press image.
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