FOUNTAINE PAJOT: RESULTS 2021/22 – 21/12/2022 at 6:00 p.m.

• Reaffirmed ambition towards carbon neutrality
  

• Solid results: EBITDA of €33.4 million, i.e. a margin of 15.2%
  

• Operating income up 10.4%
  

• Strong commercial momentum 2022/23
  

Progress of the Odysséa 2024 business plan, towards carbon-free yachting

During the 2021/22 financial year, the Fountaine Pajot Group took new steps towards achieving carbon neutrality by 2030: adoption of the GHG protocol (

Green House Gas Protocol

) to determine the company’s carbon footprint, launch of an electric motor and an energy management system on board ships, targeted investments aimed at reducing the industrial footprint.

In addition to this approach, Fountaine Pajot is committed to the WWF for the protection of Posidonia meadows in the Mediterranean. These reservoirs of biodiversity, weakened by human activity, constitute a carbon sink, which must be preserved. This conservation project led by WWF France now benefits from the support of Fountaine Pajot.

The Fountaine Pajot Group announces its results for the 2021/22 financial year (from 09/01/21 to 08/31/22).

Improved operational performance

At the end of the 2021/22 financial year, Fountaine Pajot achieved an increase in turnover of 8.7% to €219.9 million, hampered by tensions (supplies and recruitment). Business momentum was driven by international sales and the return of sales to professional rental companies.

2021/22 EBITDA came to €33.4m, compared to €32.9m a year earlier, impacted by purchase price increases, partly offset by a repercussion in boat prices. The difficulties stabilized on the 2

^n/a

semester: EBITDA margin at 2

^n/a

semester improved by 1.6 pt compared to the 1

^er

semester 2021/22. Profit-sharing and profit-sharing paid to employees amounts to more than €4.7 million.

Operating income was €25.9 million, up 10.4% compared to the previous financial year, and net income, Group share improved significantly to €15.9 million compared to €11.6 million. € in 2020/21.

A strengthened financial structure

As of August 31, 2022, cash flow generated by the activity reached €54.6 million, thanks to a gross cash flow after tax of €24.7 million and a decrease in working capital requirement of €29.8 M€, given the good level of customer advances received. The increase in stocks anticipates the orders to be delivered in the coming months and reflects a delay in invoicing.

Investments in 2021/22, sustained at €11.4 million, mainly focused on new products with:

• the Aura 51, the first Fountaine Pajot model equipped in its Smart Electric® version with electric motors and an onboard energy management system,

• the development of an electric motor specific to the Fountaine Pajot group

• the D37, a new Dufour monohull, nominated for the
  
  Sail Best Boats of the year 2022
  
  “.

In addition, Fountaine Pajot won the boat of the year 2023 award in the United States, for the

Tanna 47

by Cruising World magazine.

2022/23 outlook: strong commercial momentum for another year of growth

The quality and depth of the order book allow us to anticipate another year of sales growth. In addition, Fountaine Pajot is preparing for the summer of 2023, the extension of its range with a new 80-foot flagship.

Finally, to support the Group’s growth, recruitment actions are reinforced with the aim of welcoming 150 new employees. The subcontracting partnership concluded with Couach also increases the capacities available for the manufacture of boats. Finally, our business school is entering a new phase of its development and will strengthen recruitment actions.

Communication schedule

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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 – Ticker: ALFPC – PEA/PME eligible

[1]

During the financial year Fountaine Pajot acquired the company Alternatives Energies (50.5% holding). The entry into the scope being deemed insignificant, no pro forma consolidated financial statements have been prepared.

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