The superyacht painting, supply and maintenance company said revenue for the year to December 31 will come in at €58.5mln, down from €63.8mln in 2019.
The AIM-listed firm also said there were extra Covid-related exceptional costs during the fourth quarter but it has been focusing on delivering further operational improvements, so should achieve better profits this year.
The total order book stood at €53.8mln last month or 21% ahead of the same point in January 2020.
Orders for 2021 currently stand at €40.6mln, a 24% increase on last year, and revenues for the first quarter are expected to be well ahead of 2020.
The Spanish company has seen a significant uplift in the volume of ‘New Build’ contracts, in addition to the expected flow of ‘Refit’ projects.
Shares shed 5% to 73.55p on Tuesday morning.