Palmawatch reports 21% revenue increase in 2015

Mallorca-based refit and repair shipyard, Palmawatch S.L. has announced that it has closed its accounts to a successful 2015, with a gross sales increase of 21% over and above that reported for 2014.

According to a recent press release, Pierre Oberon, managing director of the Palma shipyard, accredits the shipyard’s financial success to the relaxation of the punitive ‘matriculation tax’ on commercial charter yachts, which has seen the return of many superyachts into Balearic waters. Strengthening activity has also been reported in the leisure marine sector in Spain and the Balearics with a 15% growth this year, according to the Balearic Nautical Business Association (AENIB).

According to the business, the challenge of the increased workload and administration was handled well by the Palmawatch team, which was partly thanks to the recent recruitment drive by the shipyard, which saw several key appointments in summer 2015, strengthening the yard’s capacity across all disciplines. 

Now welcoming the start of the antifouling season in the Mediterranean, Palmawatch has announced a well-experienced painting team and a new in-house shipwrights and metalworks department is in place to support projects in teak decking and stainless steel fabrication.

As a result of the increased demand throughout 2015, Pierre is advising clients to book ahead for the 2016/17 refit season, with the shipyard now taking bookings from September onwards. He said, “We like to plan ahead and get our projects yachts chocked as close as possible to our workshops.”

For more information, visit Palmawatch S.L.