March 14, 2024 Press Release – VETUS Responds to Customer Concerns Amidst Ongoing Economic Uncertainty Corporate Commitment to customers underpinned by price cuts and a price freeze until January 2025 Schiedam, Netherlands – As VETUS marks its 60th anniversary this year, the complete boating solutions provider has reaffirmed its commitment to offering innovative solutions at affordable prices for boaters worldwide. In the face of a shifting economic landscape, characterised by soaring retail prices and mounting cost–of–living concerns for consumers, VETUS has proactively addressed these issues by reducing prices on many of its products and gone even further by committing to maintain prices until January 2025. Against a backdrop of unprecedented economic challenges, including rising inflation rates and escalating costs across materials, transportation, energy and labour, VETUS remains steadfast in its dedication to providing exceptional products at reasonable prices. VETUS only applied one price increase during the turbulent Corona period, demonstrating a commitment to stability and transparency for its valued customers. In response to the evolving economic climate and the growing need for affordability, VETUS has assessed its entire product line to identify opportunities for price optimization. This diligent approach has enabled VETUS to reduce prices on about a third of its products, ensuring that the end consumer can access high–quality solutions without breaking the bank. “Our aim has always been to provide innovative solutions at a reasonable price for boaters and OEMs,” says Marcel Borsboom, CEO at VETUS. “As we navigate through this period of economic uncertainty, we remain steadfast in our commitment to our customers. As well as keeping our pricing consistent and reducing prices across our product portfolio for the end consumer, we will continue to provide boatbuilders and OEMs with the most competitive pricing options.” This approach sets VETUS apart. By adapting a more efficient and smarter approach to how it operates and accepting that an adjustment to its profit margins was crucial to implementing the new pricing structure, the company has not only been able to freeze its prices since April 2022, but also commit to maintaining these prices until January 2025. This commitment to stability and affordability ensures that boaters can confidently rely on VETUS as a trusted partner for all their marine needs. 2024 is a milestone year for VETUS as it celebrates its 60th anniversary. As the company prepares to embark on its next chapter of growth and innovation, including the highly anticipated move to its new state–of–the–art headquarters at the end of this year, the company remains focused on its core mission: to position VETUS as a reliable supplier that cares deeply about its customers. For more information about VETUS and its extensive range of marine solutions, visit www.vetus.com Media Contacts Sander Gesink Karen BartlettVETUS Saltwater StoneTel: +31 6 15550101 +44 (0) 1202 669244sgesink@vetus.com k.bartlett@saltwater-stone.comwww.vetus.com www.saltwater-stone.comAbout VETUS – Creator of Boat Systems Founded in 1964, VETUS sets the global standard in the design and manufacturing of complete onboard boat systems—including engines, bow thrusters and anchoring solutions—for recreational and small commercial vessels. VETUS prides itself on innovation and engineers the majority of its 4,000+ product lineup in–house. The company’s commitment to quality, reliability, and delivering superior customer experience has earned the trust of boaters, yacht builders, and marine training establishments all over the world. VETUS has its headquarters in the Netherlands, with representation in 17 other countries and anunparalleled worldwide distribution and service network.
