Business news French Shipyard Fountaine Pajot, Results for the first half 2012/2013

Activity increased by 12.8% to € 14.2 million

Improved profitability and a positive net cash

Fountaine Pajot is a year of growth for the current year

Fountaine Pajot, a world leading manufacturer of cruising catamarans, announces its results for the first half of the year 2012/2013 (September 1, 2012 to February 28, 2013).

The selected financial data set by the Board of Directors are:

M€	28/02/2013	29/02/2012
Turn Over	14,17	12,47
EBITDA *	(0,17)	(0,18)
Operating income	(1,60)	(2,13)
Net Result after profit	(0,97)	(1,34)

* Before profit-sharing
 
Activities increased by 12.8%As already announced, the turnover of the first half grew by 12.8% to € 14.2 million compared to the same period last year, driven by sales of heart segment. Most of the volume of activity in the premium segment (Flagship), is expected in the second half.

The production level has been adjusted down 12.9% on the first half, by prudence and pending order confirmations. At the same time, destocking largely supported sales. Nevertheless, since the beginning of January 2013, the rate of production accelerated to cope with the increasing backlog.

The operating profit of € 1.6 million is a significant improvement of 532 K €. In addition, net income increased by 374 K € to stand at € -0.97 million.

Strengthened financial structure, positive net cash

M€	28/02/2013	29/02/2012
Capital	10,25	12,25
Inventories	11,26	14,81
Trade and other receivables	5,09	6,12
Cash	2,90	0,71
TOTAL ASSETS	29,51	33,88
Equity	13,73	14,24
Provisions	1,64	1,66
Borrowings	1,67	4,51
Payables and receivables	4,75	5,29
Other liabilities including deposits	7,71	8,17
TOTAL LIABILITIES	29,51	33,88

The activity of moderate production in the first half of the year, as well as lower inventory levels have improved in Need of Working Capital Fund of € 3.1 million, as opposed to the normal seasonal fluctuations. Fountaine Pajot and displays a positive operating profit of € 2.8 million during the half year cash flows.

The group has a stronger cash of € 2.9 million (€ 0.7 million at 29 February 2012), higher financial debt amounting to € 1.7 million and equity of $ 13.7 million €.Fountaine Pajot and has a solid financial structure, to finance future growth.

Outlook 2012/2013 pro
Dynamics recorded in the first period sales, the good performance of backlog and the launch of the brand Fountaine Pajot Motor Yachts, are assets which the Group to maintain its growth expected for the current year between 5% and 10%.On the occasion of its commercial agreement, Fountaine Pajot announce the end of June its new flagship, the Victoria 67 boat which concentrates all the knowledge of the site and will showcase the excellence and comfort.Communication schedule: Annual turnover 2012/2013 mid-October 2013

About Fountaine Pajot
 Founded in 1976 by Jean-François Fountaine and Yves Pajot Fountaine Pajot, iconic brand, began production catamarans public in 1983.
With a unique expertise in the design and manufacture of marine and comfortable catamarans, Fountaine Pajot 33 models created and delivered over 2000 catamarans worldwide.
In 2013, Fountaine Pajot offers complete and renewed catamarans (Mahé 36, Lipari 41, Helia 44, Salina 48 Evolution, Sanya 57 and Victoria 67) and motor (Summerland 40, Cumberland 47 LC and Queensland 55).
With two powerful industrial sites in the innovative process in the heart of the area of ​​production of nautical reference in the world, Fountaine Pajot has made significant investments since 2005 to renew the range, to industrialize the production and develop top offers range. In FY 2011/2012 (31 August 2012), Fountaine Pajot has recorded a turnover of € 38.4 million.

More information www.fountaine-pajot.com

 Contacts:Fountaine PajotHelen FONTAINIEUDirector of CommunicationsTel. : +33 (0) 5 46 35 70 40E-mail: @ helene.de.fontainieu fountaine-pajot.com Finance NewsCorinne POWERFULAnalyst / Investor RelationsTel. : +33 (0) 1 53 67 36 57E-mail: cpuissant@actus.frJean-Michel MarmillonPress RelationsTel. +33 (0) 1 53 67 07 80E-mail: jmmarmillon@actus.frRegulated informationProvided under the continuous disclosure obligations:- Press on accounts, results, revenue and full original PDF release:http://www.actusnews.com/documents_communiques/ACTUS-0-32488-fountaine_pajot-rs-s1-vdef.pdf© Copyright Actusnews WireReceive free email future news the company by registering on www.actusnews.comReceive by email the next press releases of the company by Registering on www.actusnews.com, it's free 

Source Press release 

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