(BFM Bourse) – Despite tensions over supplies and recruitment, the world’s second largest catamaran for the high seas published solid annual accounts at the end of August 2022. Foutaine Pajot expects “a new year of growth” for 2022/ 2023.
After Bénéteau and Catana, Foutaine Pajot is at the helm. This listed boating player, world number two in catamaran for the high seas, rose 1.9% to 109.4 after unveiling solid annual accounts for 2021/2022.
The family shipyard based in Aigrefeuille-d’Aunis, near La Rochelle, achieved a turnover up 8.7% to 219.9 million euros at the end of August. Fountaine Pajot specifies that its growth momentum has been hampered by tensions both in terms of supplies and recruitment. These difficulties are not exclusive to Foutaine Pajot.
Due to shortages of parts and labor, the Occitan Catana was unable to deliver around thirty boats in the 2021/2022 financial year, representing a shortfall of 18 million euros in this financial year. The shortages of raw materials have indeed disrupted the group’s production lines, penalizing the productivity of the factories and their ability to deliver on time.
Internationally driven sales
A positive point for Fountaine Pajot, the growth of its activity was driven by international sales and by a recovery in sales to professional rental companies.
For its part, the gross operating surplus amounted to 33.4 million euros, against 32.9 million euros a year earlier. Like its counterparts, Fountaine Pajot had to absorb an increase in the cost of raw materials, an increase which was “more than offset” by an increase in the selling prices of its boats.
Operating income amounted to 25.9 million euros, up 10.4% compared to the previous financial year, while net income group share increased by 37% to stand at 15, 9 million euros compared to 11.6 million euros in 2020/2021.
A “strong commercial dynamic” in 2022/2023
Regarding its prospects for the financial year which has just begun, Foutaine Pajot anticipates a “strong commercial dynamic”. It will have the effect of leading to “a new year of growth” for the shipyard.
“The quality and depth of the order book allow us to anticipate a new 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” adds the society. Foutaine Pajot also intends to emphasize recruitment in order to support the group’s growth. It aims to welcome 150 new employees.
Sabrina Sadgui – ©2022 BFM Bourse
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