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19/11/2008
at 17:24
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August 14 2006
2005/06 fiscal year 9-month sales up 6% TO € 327.5 million
Rodriguez Group approved the financial statements for the first 9 months to June 30, 2006, of its 2005/06 fiscal year.
It should be noted that, for the first time, the results are presented in accordance with IFRS and particularly the recognition of new yacht sales in line with their state of completion and no longer on delivery, as previously.
In order to provide a comparable basis, Rodriguez Group presented, in accordance with applicable provisions, pro-forma data prepared under IFRS for the first 9 months of the previous fiscal year (June 30, 2005). Thus, restated sales for the first 9 months of the 2004/05 fiscal year were € 309.0 million, compared to a published figure of € 286.7 million.
Rodriguez Group realized sales of € 327.5 million at June 30, 2006, a 6.0% increase over the € 309.0 million pro forma sales achieved over the first 9 months of the 2004/05 fiscal year.
Group 2005/06 fiscal year 9-month sales may be analyzed by business segment as follows:
· New Yacht sales amounted to € 226.5 million, up 9,5 % compared to the same period last year.
· Pre-Owned Yacht sales amounted to € 76.7 million, which is at a comparable level to the previous year (- 4.2%).
Given the number of sales under negotiation, the Group confirms its objective of a significant reduction in pre-owned yacht inventories at September 30, 2006.
· Yacht Services and Merchandise sales were € 24.3 million, a 10,1 % increase over the same period last year.
New Yacht Sales Annual Objectives
The Group confirms its annual objective for sales, restated in accordance with IFRS, of new yachts for the 2005-2006 fiscal year of € 330 million.
Cumulated Sales Order Backlog(current and subsequent years)
* order backlog of € 569 million restated by € 44 million corresponding to sales recognized by stage of completion at September 30, 2004
The recognition of sales by stage of completion requires the recalculation of the order backlog every year by deducting the sales recognized by stage of completion at September 30, of the previous year.
The IFRS order backlog at August 10, 2006 was thus € 580 million, up 10 % from € 525 million in August 2005.
RODRIGUEZ GROUP SA shares are listed on Eurolist Compartment B of the Euronext Paris Stock Exchange and are a component of the Next Prime segment (ISIN Code: FR0000062994) and the SBF 250 and Next 150 indices. Its shares are eligible for SRD (Deferred Settlement Service)..
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(€ millions)
|
Published
June 30, 2005 |
IFRS
June 30, 2005 |
IFRS
June 30, 2006 |
|
New Yacht
sales |
175,4
|
206,9
|
226,5
|
|
Pre-Owned
sales |
80,1
|
80,1
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76,7
|
|
Yacht Services
and Merchandise |
31,2
|
22,0
|
24,3
|
|
Total
|
286,7
|
309,0
|
327,5
|
Rodriguez Group approved the financial statements for the first 9 months to June 30, 2006, of its 2005/06 fiscal year.
It should be noted that, for the first time, the results are presented in accordance with IFRS and particularly the recognition of new yacht sales in line with their state of completion and no longer on delivery, as previously.
In order to provide a comparable basis, Rodriguez Group presented, in accordance with applicable provisions, pro-forma data prepared under IFRS for the first 9 months of the previous fiscal year (June 30, 2005). Thus, restated sales for the first 9 months of the 2004/05 fiscal year were € 309.0 million, compared to a published figure of € 286.7 million.
Rodriguez Group realized sales of € 327.5 million at June 30, 2006, a 6.0% increase over the € 309.0 million pro forma sales achieved over the first 9 months of the 2004/05 fiscal year.
Group 2005/06 fiscal year 9-month sales may be analyzed by business segment as follows:
· New Yacht sales amounted to € 226.5 million, up 9,5 % compared to the same period last year.
· Pre-Owned Yacht sales amounted to € 76.7 million, which is at a comparable level to the previous year (- 4.2%).
Given the number of sales under negotiation, the Group confirms its objective of a significant reduction in pre-owned yacht inventories at September 30, 2006.
· Yacht Services and Merchandise sales were € 24.3 million, a 10,1 % increase over the same period last year.
New Yacht Sales Annual Objectives
The Group confirms its annual objective for sales, restated in accordance with IFRS, of new yachts for the 2005-2006 fiscal year of € 330 million.
Cumulated Sales Order Backlog(current and subsequent years)
Order Backlog published in August 2005 (€ millions) |
IFRS Order Backlog August 2005 (€ millions) |
IFRS Order Backlog August 2006 (€ millions) |
|
569
|
525*
|
580
|
* order backlog of € 569 million restated by € 44 million corresponding to sales recognized by stage of completion at September 30, 2004
The recognition of sales by stage of completion requires the recalculation of the order backlog every year by deducting the sales recognized by stage of completion at September 30, of the previous year.
The IFRS order backlog at August 10, 2006 was thus € 580 million, up 10 % from € 525 million in August 2005.
RODRIGUEZ GROUP SA shares are listed on Eurolist Compartment B of the Euronext Paris Stock Exchange and are a component of the Next Prime segment (ISIN Code: FR0000062994) and the SBF 250 and Next 150 indices. Its shares are eligible for SRD (Deferred Settlement Service)..