A GLOBAL MARKET LEADING SUPERYACHT PAINTING AND MAINTENANCE COMPANY

What we do

Market overview

Our strategy

• Market leader in the painting, supply and maintenance of 40m+ superyachts

• International footprint with operations in the Mediterranean, Northern Europe and the United States

• Group brands include Pinmar, Pinmar Yacht Supply, and Technocraft

• Listed on AIM in July 2017

• GYG’s operations can be divided into three key markets:

• Market leading brand proposition offering premium quality & unrivalled experience over 70m

• Provide a unique global turnkey service from our core operating bases

• Build long term preferred supplier relationships with premium New Build yards in Northern Europe

• Exploit the three principal routes to the Refit market; Yacht Captains, Refit Yards, Fleet Management

• Utilise marketing synergies and CRM technology to grow the retail and yacht supply services

New BuildThe filling, fairing and painting of new superyachts as part of the initial construction process

RefitThe repainting of superyachts normally as part of a refitting programme including scaffold & yacht hardware

Pinmar Yacht SupplyThe sale of marine products to trade professionals, retail customers and direct to superyachts worldwide

40-50m 50-70m 70-90m 90m+

C O AT I N G S S U P P LY

July 2020www.gygplc.com

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024

37 3440

33 33

1717

1620 17

67

7 12

6

76

56

6

6764

6871

62

87

72 73 71 73

Deliveries Actual Forecast

4 0 m + G L O B A L S U P E R YA C H T D E L I V E R I E S& F O R WA R D O R D E R B O O K

4 0 m + R E F I T M A R K E T S I Z E & VA L U E

¤233.1¤245.3

¤255.1¤264.6

¤276.7¤285.2

Forecast Market Value

0

400

350

300

250

200

150

100

50

TotalProjects

Key highlights (2019 FULL YEAR RESULTS)

Revenue & Adjusted EBITDA (€m) Order Book

• Group revenue increased 41.8% to €63.8m (FY18: €45.0m)

• Adjusted EBITDA increased to €4.5m (FY18: loss of €0.9m)

• Six major contract wins in the New Build sector during the year and €11.2m of New Build revenue generated in 2019 (FY18: €3.7m)

• Expanded customer base and service offering in the Supply division with renewed focus on CRM systems and collaboration with Coatings division

• Encouraging first half of 2020 following 2019 operational improvements and increased levels of activity in both New Build and Refit, resulting in a record order book and strong outlook

Investment case• Addressable market forecast to grow 5.1% CAGR to 2024

• Market leading brand

• Only true global operator in fragmented market sector

• High barriers to entry, asset-light model

• Recurring business driven by industry regulation and an average 5-year repeat cycle

• Strong forward Order Book and pipeline

• Technology leader, resulting in improved speed, quality and reduced environmental impact

• Experienced management team with strong industry relationships

Coatings Supply Adj. EBITDA

PENDENNISFALMOUTH, UK

HAMBURG, GERMANY

HEESEN YACHTSOSS, HOLLAND

ROYAL HUISMAN, HOLLAND

DAMEN/AMELSHOLLAND

FEADSHIPHOLLAND

NOBISKRUG GERMANY

BENETTIVIAREGGIO, ITALY

PALUMBO ANCONA, ITALY

RYBOVICHWEST PALM BEACH, USA

SAVANNAHYACHT CENTERGEORGIA, USA

DERECKTORSFORT LAUDERDALE, USA

NAVANTIACARTAGENA, SPAIN

MB92 LA CIOTAT, FRANCE

MONACO MARINELA CIOTAT, FRANCE

ATLANTIC REFIT CENTERLA ROCHELLE, FRANCE

FREIRE VIGO, SPAIN

FERRETTI AND WALLY ITALY

IMS 300, IMS 700FRANCE

PALUMBO MALTA

STPPALMA, SPAIN

ASTILLEROS DEMALLORCAPALMA, SPAIN

PORT ADRIANOPALMA, SPAIN

MB92BARCELONA, SPAIN

KUSCH YACHTSWEWELSFLETH, GERMANY

DÖRRIES YACHTSBREMERHAVEN, GERMANY

LLOYD WERFTBREMERHAVEN, GERMANY

SPAIN

FRANCE

GERMANY

USA

ITALY

HOLLAND

UKLÜRSSEN BREMEN, GERMANY

OCEANCOHOLLAND

AMSTERDAM HOLLAND

201920182017201620152014

€40.9m

€6.9m

€5.2m €5.0m

€6.7m €7.2m

€4.5m

(€0.9m)

€39.2m€46.0m

€53.7m

€35.7m

€7.9m

€8.6m

€8.9m

€9.5m

€10.1m

€53.7m

Order Book at

30 June 2018 €29.9m €11.2m €13.1m

30 June 2019 €38.6m €15.3m €18.2m

30 June 2020 €42.7m €16.4m €20.7m

€5.6m

€5.1m

€5.6m

TotalCurrent

YearCurrentYear +1

ForwardOrder Book

GYG global operations = Major bases

www.gygplc.com

The Order Book at 30 June 2020 provides more forward visibility than ever before: