New management

Appointment of Mr Eric de Saintdo, new chairman of the executive board of Rodriguez Group

Renewal of corporate bodies

Strong increase in the turnover during the first half-year of 2011

Cannes, May 12, 2011

New management

On 2011, March 31st, the Supervisory Board of RODRIGUEZ GROUP appointed Eric de Saintdo as Chairman of the Executive Board.

Thus, Eric de Saintdo, who joined Rodriguez Group in October 2010 as Managing Director, succeeded Gerard Rodriguez. The latter had then agreed to come back at the helm of the Group temporarily, to ensure the redevelopment of Rodriguez Group's activities.

It is, therefore, natural that the chairmanship of the Executive Board of Rodriguez Group goes to Eric de Saintdo.

« Since his appointment as Managing Director, Eric de Saintdo has showed real qualities both in terms of team management and consolidation of commercial relation with partners and clients of the Group » emphasizes Gerard Rodriguez. « His dynamism, determination and strategic vision of Rodriguez Group have persuaded the members of the Supervisory Board to put him now in charge of the Chairmanship ».

Eric de Saintdo was also appointed as Chairman of the Board of Directors of SNP Boat Service.

Besides, the members of the Board of Directors of Camper & Nicholsons International, the holding company of Camper & Nicholsons Group, decided to appoint Eric de Saintdo as Chairman of the Group, to replace Jillian Montgomery.

This appointment dedicates a willingness to closely relate both groups hold by Rodriguez Group, by implementing a same management with the objective to encourage synergies and skills exchanges.

From this perspective, Laurent Pérignon, the former Marketing Director of Camper & Nicholsons, has been nominated as member of the Executive Board of Rodriguez Group, member of the Board of Directors of SNP Boat and member of the Board of Directors of Camper & Nicholsons International.

Presentation of financial statements

Sales (€ thousands) 31/03/2011 31/03/2010 Variation
Yachts 42 117 7 981 +428%
Services 10 188 13 858 -26%
Total 52 305 21 839 +139%

The financial statements of the first semester of the fiscal year 2010/2011 ended by Rodriguez Group on March 31, 2011, show the exceptional growth of the Group's consolidated turnover.

The turnover of the sales of yachts' activity has increased fivefold compared to the performance of the first semester 2009/2010 and amounts to   42,117 thousand (against € 7,981 thousand the previous year), particularly as a result of the strong rise in sales of new yachts.

Besides, in spite of the signs of an upturn in the market, the Group still knows a high pressure on the sales price.

The Services activity remains stable over a period which is traditionally not very flourishing for this important seasonally activity.

The analysis of the Services' turnover shows actually a rise of 2% over the period (€ 10,188 thousand in 2011 against € 10,017 thousand in 2010, after deducting the exceptional turnover generated by the agreements entered into SNP Boat and Arno shipyards during the first quarter 2010 which represents an amount of € 3,841 thousand).

Rodriguez Group considers that these results are particularly encouraging just before the beginning of summertime and confirm the adopted choices both during the restructuration and by the new Management since the homologation of the safeguard plans.

Thus, the operational results will show a significant rise but will still remain unprofitable.

RODRIGUEZ GROUP is listed on Compartment C of the Eurolist Paris (ISIN Code: FR0000062994)