(Boursier.com) — Catana Group posted operating income of €12.3 million in the first half of its 2022-2023 financial year, compared to €11.5 million a year earlier. The group had achieved a turnover of 94.6 million euros over the period, up 33% over one year.
The catamaran manufacturer explains that it remains in difficulty with the supply of its engines, its engine partner not yet managing to honor the rhythm of contractual deliveries, which maintains a strong inertia in the cycle of deliveries. These timings, combined with a more marked seasonality of delivery, generated an increase in inventories of finished products, all sold but awaiting delivery. This situation very clearly explains the exceptional variation in stocks of work in progress and finished products (16 ME) in these intermediate accounts. These boats in stock, not invoiced, imply a yet unrecognized operating margin of 4.5 ME.
However, Catana Group believes that this engine situation will improve in the coming months. Indeed, an agreement with a second engine manufacturer has just been concluded, which will considerably supplement the deliveries made by the Group’s historic partner for the next financial year.
The net result of the consolidated group continues to increase and stands at 9.9 ME against 8.2 ME in the 1st half of 2021-2022, i.e. 10.5% of turnover.
Despite the logistical constraints that make forecasts difficult, Catana Group claims to be already assured of achieving a high level of growth in this 2022-2023 financial year.
“The Group’s very solid order book, combined with the favorable logistics outlook for next fiscal year due to the agreement reached with a second engine manufacturer, also consolidate the preservation of a double-digit growth model for fiscal year 2024. -2025 “, assures Catana.
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