2023-06-19 16:00:00
A turnover increase over the semester of +23% Solid results: operating profit at €10.7 million A reinforced financial structure, to finance developments: new boats (Dufour D41, future 80-foot Fountaine Pajot), reinforcement of the production tool, integration of American distribution and continuation of the Odyssea plan with the development of an electric hybrid solution for a decarbonized company Confirmation of a year 2022/23 expected to grow
The Fountaine Pajot Group, one of the world leaders in the manufacture of pleasure boats, publishes its results for the first half of the 2022/23 financial year (from 09/01/22 to 02/28/23). The main financial data was approved by the Board of Directors at its meeting of June 16, 2023.
Data in K€ – (French standards) 28/02/2023
6 months 28/02/2022
6 months Turnover 111 433 90,577 Gross operating surplus 12 521 12,906 Operating result 10 664 8,955 Financial result 622 (631) Current result 11 285 8,324 Extraordinary result (143) (278) Consolidated net income 7 802 5,138 Net profit attributable to the Group 7 761 5 655
Continued improvement in operational performance
The Fountaine Pajot Group is having a good first half of 2022/23 with dynamic growth in activity of +23%, driven in particular by the latest launches in both the catamaran segment (Elba 45, Aura 51, Samana 59 and Alegria 67) than in the monohull segment (D530, D470 and D37) and by the acceleration of production rates.
This growth makes it possible to achieve EBITDA in the first half of 2022/23, which stands at €12.5 million compared to €12.9 million a year earlier, negatively impacted by inflation on purchase prices.
Operating income for the first half of 2022/23 amounted to €10.7 million, up 19.1% compared to the first half of 2021/22 and net income Group share improved significantly to 7.8 M€ against 5.1 M€.
A strengthened financial structure
A K€ 28/02/23 31/08/22 One K€ 28/02/23 08/31/22 Fixed Assets 81 866 80,965 Equity 75 998 71 550 Stocks 57 227 37,959 Provisions & deferred taxes 8 986 9 666 Trade receivables and other receivables 10 423 11,347 Financial debts 27 528 29 767 Availability 146 520 139,433 Suppliers and related accounts 32 291 19 344 Total assets 296 036 269,703 Other debts
Of which customer advances 151 233
121 208 139 376
117 065 Total liabilities 296 036 269 703
The Fountaine Pajot Group presents on February 28, 2023 a positive gross cash flow of €11.4 million and a favorable change in working capital requirement of €6.4 million, given the increased level of down payments received slightly favorable, generating positive operating cash flow of €17.8 million. The increase in inventories anticipates orders to be delivered in the second half of the year.
Investments over the period amounted to €5.2 million and mainly concerned new products and the hybrid electric solution developed by the Group.
Thus, at the end of February 2023, the Fountaine Pajot Group displayed a solid financial structure allowing it to calmly anticipate the future.
Good visibility for the 2022/23 financial year expected to show strong growth
Given the level of activity for this first part of the financial year, the good level of orders to be delivered and the accelerating production rates, the Fountaine Pajot Group anticipates another year of growth, higher than that of 2021/22, sustained by the quality and extent of its entire range.
In terms of developments, in the summer of 2023 the Group will launch the New 80, the new flagship of the Fountaine Pajot fleet, and the D41, from Dufour, which will be presented at all boat shows in September 2023. The Group’s presence in the United States has been strengthened through investment in boat distribution activities, and an extension of industrial buildings is planned on the Aigrefeuille de Fountaine Pajot site for 2024.
Finally, as part of its Odyssea 2024 strategic plan, and the ambition to achieve carbon neutrality by 2030, Fountaine Pajot is continuing its momentum in terms of innovation, with the launch of the first Dufour equipped with the hybrid solution. electricity developed by the Group.
Communication calendar :
2022/23 turnover mid-October 2023 (after market)
About Fountaine Pajot
Founded in 1976 by Jean-François Fountaine and Yves Pajot, FOUNTAINE PAJOT, an emblematic brand, began producing catamarans for the general public in 1983. With unique know-how in the design and manufacture of seaworthy and comfortable catamarans , FOUNTAINE PAJOT has created more than 45 models and delivered
3,000 catamarans worldwide. Following the merger between FOUNTAINE PAJOT and Dufour Yachts, the Group offers a complete and renewed range of catamarans and monohulls. Over the 2021/22 financial year (as of August 31, 2022), the FOUNTAINE PAJOT Group recorded revenue of €219.8 million.
Euronext Growth Paris – ISIN : FR0010485268 – Mnémo : ALFPC – Eligible PEA/PME
FOUNTAINE PAJOT
Helene de Fontainieu
Communications Director
Tel. : 05 46 35 70 40 ACTUS finance & communication
Corinne Puissant / Analyst Relations / Investors
[email protected] /Tel. 01 53 67 36 77
Manon Clairet / Press Relations
[email protected] /Tel. 01 53 67 36 73
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