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Superyacht maintenance company GYG swung to a loss in the first half of the year as flagged a €2.8 million hit from the Nobiskrug administration.
For the six months ended 30 June 2021, pre-tax losses were €1.1 million, compared whith a profit of €0.5 million year-on-year, while revenue increased 28.2% to €37.3 million.
Nobiskrug administration led to a 'significant loss' of operational efficiency, as the company didn't receive payment for the outstanding amounts due of €2.8 million.
There was also a subsequent delay of revenue that had been expected while the three Nobiskrug projects remained suspended.