(Boursier.com) — Fountaine Pajot climbs 9.5% to 127 euros this Tuesday, while over the entire first half of the 2023-2024 financial year (from September 1, 2023 to February 28, 2024), the group achieved a turnover of 164 .9 million euros, recording an increase of +48.2% compared to the same period of the previous financial year (+33.2% at constant scope). This very solid performance is driven by the acceleration in production rates and the success of the latest launches both in the catamaran segment (Aura 51 and Samana 59) and in the monohull segment (D41 and D470). The recruitment and training policy is bearing fruit, reflected in the clear growth this semester. The Group maintains its international development trajectory with 84% of sales made from exports.
Outlook 2023-2024
Despite signs of slowdown in the global boating market, the outlook remains encouraging for the Group. The current order portfolio offers a solid basis for anticipating a year 2023-2024 of strong growth marked by:
– product launches – the Thíra 80, the new flagship of the Fountaine Pajot Range, whose deployment continues, and the D44, new to the Dufour brand, presented as a world preview at the Düsseldorf Motor Show in January,
– the continued commercial deployment of hybrid electric solutions.
The Fountaine Pajot Group continues its development and transformation trajectory with an ambitious investment plan. More than 5 ME are devoted to the development of new boats and more than 10 ME to strengthening industrial capacities. Benefiting from good visibility thanks to a solid order book, an efficient industrial organization and a reinforced human resources policy, the Group is aiming for another year of strong growth… For Portzamparc, the valuation remains notched in the worst scenarios such as other players in the sector. The PER of the file is only 5.8 and the EV/Ebit is 1.7. Enough to raise the target price from 175 to 195 euros while remaining long on the value.
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