Victory Yacht Sales Posts RECORD Sales and Revenues for 2021

Rhea-AI Summary

Victory Marine Holdings (OTC PINK:VMHG) reported a near 300% increase in gross sales for 2021, totaling $6.2 million, up from $2.2 million in 2020. CEO Orlando Hernandez attributed this record performance to the company's resilience amid inventory shortages and the impacts of COVID-19. Despite industry predictions of a decline in boat sales during the pandemic, consumer demand remained strong. The company is optimistic about its stalled projects as it moves into 2022, aiming to capitalize on recovery and growth opportunities.

Positive

• Gross sales increased by nearly 300%, reaching $6.2 million in 2021.
• Resilience shown amid industry-wide inventory shortages and supply chain issues.

Negative

• None.

MIAMI, FL / ACCESSWIRE / April 4, 2022 / Victory Marine Holdings (OTC PINK:VMHG) is proud to announce it's 2021 yearend financial overview, highlighted by its nearly 300% increase in gross sales year over year.

"In spite of massive shortages of inventories across the boating landscape, supply chain backlogs and Covid 19 travel and vacation restrictions, limiting travel for millions of travelers, vacationers and dual homeowner's traditional migrations, we had a record year, by a long shot", says Orlando Hernandez, CEO of Victory Yachts. " It's a testament to the strength of the industry that we have endured the most trying economic times perhaps since WWW2, ". Hernandez continues " While many of the industry predictors told us that the boat sales and brokerage business would not survive the pandemic, it appears that the consumer thought otherwise". We couldn't be happier"

The company announced that for the year ended December 31st, 2021, the company grossed $6,211,000.00, a staggering increase from 2020, where the total sales were under $2.2 million. "Furthermore, and encouraging optimism within the company, our most ambitious projects, stalled in 2021 by Covid, are now front and center as we approach the 2022-year, inflation, shortages and all."

The full financials are available to view the year end financials posted on https://www.otcmarkets.com/otcapi/company/financial-report/323866/content

$VMHG #VictoryYachtSales #YachtCoin

About Victory Marine Holdings

Victory Marine Holdings (OTC:VMHG), is a recreational marine provider seeking to bring the best product and best service in different areas of this amazing industry. We are focused on providing our client a one stop experience in all their recreational marine needs from new and used boats to financing, insurance, documentation, and accessories. To view our inventory, please visit https://www.victoryyachts.com/

Forward-Looking Statements.

Forward-Looking Statements certain statements in this release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified using words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors. We assume no obligation to update the information contained in this news release.

Contact Information:

Orlando Hernandez
Victory Marine Holdings
www.VictoryYachts.com
(800) 317-2441

SOURCE: Victory Marine Holdings

View source version on accesswire.com:
https://www.accesswire.com/695805/Victory-Yacht-Sales-Posts-RECORD-Sales-and-Revenues-for-2021

FAQ

What were Victory Marine Holdings' sales figures for 2021?

Victory Marine Holdings reported gross sales of $6.2 million for the year 2021.

How much did gross sales increase for VMHG in 2021?

VMHG's gross sales increased by nearly 300% compared to 2020.

What challenges did Victory Marine Holdings face in 2021?

The company faced inventory shortages and supply chain disruptions due to COVID-19.

What is the outlook for Victory Marine Holdings in 2022?

VMHG is optimistic about their projects as they move into 2022, despite ongoing economic challenges.