There seem to be challenges in the boating industry. According to Traficom, 24% fewer boats have been registered since the beginning of the year.
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OneWater plummeted -20% in pre-market and has now recovered to âonlyâ -15%.
The boat market isnât rocking in the US either, just like anywhere else. Whatâs OneWater?
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âNimbus Group AB (publ) has decided to close its Finnish production facilities in Kuopio and Luoto. The closure is due to the Groupâs overcapacity outside the premium segment. A total of 140 employees are affected, the majority of whom have already been furloughed due to weak demand.â
Ei kannata pienten veneiden teko Suomessa ei. Ajan kysymyshÀn se vaan oli ettÀ milloin Suomen toiminnat ajetaan alas, mutta silti surkea uutinen n. 140 työntekijÀlle 
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On the other hand, Saxdor is opening in Luoto and hiring 100 people, and Botnia Marin is expanding. Plus, I just came across a recruitment post on social media for four positions, including an outfitter and a carpenter â I just canât for the life of me remember which company it was.
This was specifically about small boats â 5-8m, which are exactly these Bella and Flipper brands. Nimbus production has already been moved abroad previously, and there are only a couple of new Aquador models, whose fate I canât speak to. Itâs possible that someone will buy out these Bella and Flipper brands and start manufacturing them in existing facilities, e.g., in Kuopio 
Saxdor and Botnia Marin (Targa boats) are in a size/price class where ordinary blue-collar workers donât buy them.
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Do you folks remember that back when Nimbus went bankrupt a good 10 years ago, Bella tried to buy Nimbus? 
The investment company owning Nimbus has been very patient, here is the price history:
Nimbus had already outsourced production from its Finnish factories to Poland earlier, and now the rest follows.
When Nimbus bought Bella, the real estate remained with Sonninen, and it seems not much money even changed hands. Itâs interesting to see what Sonninen intends to do with the propertiesâŠ
A while back I said in the thread that I wouldnât invest in Nimbus for the time being, and at that time some of my messages were flagged, and there was a rather hostile attitude toward my bearish view in general. Well, it tumbled back to 18 euros anywayâŠ
However, a double bottom can now be seen in the price chart. If only the boat market would start waking up. Q3 results are out on Oct 25. 
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Has anyone noticed that Nimbus has a rights issue coming up? Looking quickly at Investing.com, this seems to apply to every share, as the total share capital is said to be 21.316M there. So the issue is 1:1, meaning for every share you get the right to subscribe to one new share at a price of 16.7 SEK.
âThrough the rights issue, the Companyâs share capital will be increased by not more than SEK 1,184,199.503080, through the issue of not more than 21,315,591 shares.â
Positive, of course, is that this isnât a directed issue only for big players, but surely one needs to have a clearly longer horizon here, even if the boat market in the USA were to shoot properly northeast with Trump. The issue seems to be guaranteed, because if everything isnât subscribed, then: âThirdly, any remaining new shares shall be allotted to R12 Kapital Holdco AB and Celox Holding AB, in their capacity as guarantors in accordance with the terms and conditions set out in their respective guarantee commitments.â
Hard to say what it means for the companyâs future if R12 becomes an absolute majority owner: âR12 Kapital may thereby, by fulfilment of the subscription and guarantee commitment, become the holder of shares corresponding to a maximum of approximately 52.52 percent of the total number of shares and votes in the Company.â
What thoughts does this evoke? Currently, the share price is below the issue price, which of course tells its own story.
It certainly raises thoughts that the subscription price has been set quite peculiarly, as it was already very close to the prevailing market price from the start, and since then, the market price has even fallen below the subscription price. Usually, in these rights issues, there is a clearer difference between the subscription price and the market price, likely to prevent this phenomenon from occurring.
At the current level, there is no incentive to subscribe to the issue, but rather to buy directly from the stock exchange. Thus, it may be that the underwriters will actually have to guarantee this issue. It is a bit of a strange situation indeed.
Back to Finnish ownership?
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Nimbus seems to have had a new share issue as a company event. A small portion of this, with a significant loss, has been left to gather dust somewhere, and I havenât really followed the companyâs progress. Has anyone looked into this more closely, explaining in simple terms how one should proceed with these? Are these similar to Canatuâs rights, meaning if one doesnât want to increase their holding, they can just sell them off? Although, the value seems to be completely worthless?
I noticed the upcoming offering some time ago, but since my position is quite small, I havenât properly familiarized myself with it yet. Iâll look into it more closely when the subscriptions arrive in my stockbrokerâs system, but hereâs roughly the information about the offering:
- Fully guaranteed offering
- 350M SEK to be raised
- You get one subscription right per share
- Subscription price 16.7 SEK, which is very close to the current daysâ price
Because the offering price is close to the current dayâs price, the rights have no value. The rights cannot be held but must be used or sold during the offering (unlike Canatut). In some offerings, if you do nothing, the rights are automatically sold on your behalf. I donât know if thatâs the case with Nimbus. So your options are to subscribe for shares and put more money into the company, or sell the rights / do nothing.
Iâm considering participating myself, but Iâm not yet sure. So far, Nimbusâs boats have only resulted in losses. Someone correct me if something wasnât right.
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Marinemax:
MarineMax reports Q1 adjusted EPS 17c, consensus (22c)
Reports Q1 revenue $468.5M, consensus $485.23M. âOur December quarter revenue and same-store sales performance reflected a combination of the soft retail environment that affected the recreational boating industry throughout 2024, and the significant disruptions caused by Hurricanes Helene and Milton,â said CEO Brett McGill. "With continued uncertainty in the economy, demand remained muted for much of the quarter, resulting in lower revenue and higher inventory at quarter-end compared with our expectations. Despite the macroeconomic headwinds, our consolidated gross profit margin strengthened, improving 290 basis points to 36.2% from 33.3% in Q1 of FY24âŠ
The expansion of our higher-margin revenue streams through strategic acquisitions and organic growth has significantly improved our margin profile over the past several years. This diversification also has enhanced our resilience to the challenges faced by the industry during periods of uncertainty, as demonstrated by our relatively stable Adjusted EBITDA despite the revenue decline. Consistent with our strategy, we continued our expense-reduction initiatives in Q1, including the divestiture or closure of three locations. Maintaining a focus on cost efficiency, while also keeping a strong balance sheet, will be central to our plans in fiscal 2025 as we work to enhance profitability and further strengthen our operational foundation."
Premarketissa nousua.
Nimbus vuorossa 4.2. Kurssi nyt 16 euron kieppeillÀ, loppu- ja alkuvuoden mörninyt 15-17 vÀlillÀ. Voisi vaikka vÀhÀn pompata jos tulee ok uutisia? Vaan tuleeko, Kuopio kiinni jne. Nimbus 495 valittu vuoden paatiksi, sillÀ kuuhun? 
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Sky News has learnt that Fairline Yachts, which is based in Oundle, Northamptonshire, had fallen into insolvency proceedings after DF Capital, the companyâs main lender, triggered the appointment of Alvarez & Marsal as administrators.
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The total net sales for the full year declined by 15 per cent to MSEK 1,619 [ÂŁ118.19m] from MSEK 1,898 [ÂŁ138.55m] in 2023. Organic growth was reported at -25 per cent for the quarter and -14 per cent for the full year.
At the same time, the firmâs order intake increased by 53 per cent compared to the previous year, indicating that the market may have bottomed out.
The company also reached an agreement to sell the existing inventory of Bella and Flipper small boats, including related production materials and equipment, through a directed asset deal to Swedish Intagagruppen. A multi-year licensing agreement was also signed, allowing Cremo to acquire the Bella and Flipper brands after the period end.
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Itâs as quiet in this thread as it is in Kuopioâs factories these days 
Looking at the results, Iâm not surprised at allâŠ
NIMBUS GROUP â REPORT FOR THE THIRD QUARTER 2025
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Net sales during the quarter decreased by MSEK 115 to MSEK 263 (-30 percent), driven by a weak start to the quarter.
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The decline is primarily explained by a continued very weak North American market, where sales dropped by MSEK 130 to MSEK 71 (-65 percent).
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Decision to close production in Larsmo, Finland, and move manufacturing of Aquador and Falcon to the same site and partner currently producing the Nimbus WTC series.
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The Swedish Defence Materiel Administration approved the design of the workboat that Nimbus Group is developing for the Swedish Armed Forces together with Svekon.
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EBITA amounted to MSEK -45 (-66). EBITA before restructuring costs amounted to MSEK -28 (-7) EBITA margin was -17.1 percent (-17.3) Operating cash flow amounted to MSEK -43 (-69)
Order book at the end of the period amounted to MSEK 358 (508), of which Commercial Sales amounted to MSEK 297 (453) and Retail Sales to MSEK 61 (55)
I learned something after working in the boat industry for over 10 years: never invest in boats (in your free time, and especially not on the stock market).
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**Nimbus Groupâs Chief Financial Officer (CFO), Rasmus Alvemyr, has decided to leave the company after seven years in the role. He will remain as CFO during the recruitment of his successor.âThe time at Nimbus Group has been an amazing period, including taking the company public and growing it into a global player in the premium segment of the motorboat industry through acquisitions. I take with me many rewarding experiences, and although I will miss all colleagues, the timing feels right to take the next stepâboth for me personally and for Nimbus Group,â says Rasmus Alvemyr.
**
Tulosjulkkarin jĂ€lkeen ei olla enÀÀ syöksytty. Nimbuksen kÀÀnne odottaa edelleenâŠjos sitĂ€ edes tulee? JTN kirjoitti âJotain opin yli 10 vuotta työskenneltyĂ€ni venealalla, Ă€lĂ€ ikinĂ€ sijoita veneisiin (vapaa-ajalla, eikĂ€ varsinkaan pörssissĂ€)â - ei nyt ihan niinkÀÀâŠAxopar ja Saxdor kyllĂ€ tekee tulosta. 
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Letâs make a note of the date and see if Nimbus is still available for 20 kronor in a couple of years
The growth in the US market is so strong that I believe the entire market (and Nimbusâs results) will turn upwards next year. At what point the share price will front-run (or follow) this turnaround remains to be seen.
Around that time, when I was bearish here, my messages were flagged and deleted because the message was not pleasing. Now a couple of years have passed, and Nimbus could have been bought for ten kronor, which seemed to be the bottom (possibly) around November 2025. The results were published at the beginning of last month, and we were in the red. Group Beneteau and Brunswick, for example, have been in the black all the time and not even doing badly. Beneteau says that the market is picking up, and many boat models are already sold out even for 2027, although they do not publicly disclose manufacturing volumes per model. So, if one believes that the boat market is picking up as the French say, Nimbus might also be developing a buying opportunity⊠or not.
Grok says:
Latest information on the ownership structure (February 2026):
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R12 Kapital (main owner) â 38.3% â the largest single owner, a Swedish private equity/family company.
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Celox Holding AB (often associated with the Jonas & Christina af Jochnick Foundation) â 11.4%.
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HĂ„kan Roos / RoosGruppen â 10.45%.
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Fort Cambridge Investments S.A. â 6.7%.
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Nordnet PensionsförsĂ€kring â 4.3%.
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Other institutional and smaller investors (e.g., ODIN Fonder, Omnets Holdings, etc.) make up the rest.
The company has conducted, among other things, directed issues and rights issues (e.g., 2024â2025), in which R12 Kapital and Celox have been the largest subscribers and guarantors.
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