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10/09/2010
at 15:26
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December 12, 2007
· 2006/2007 fiscal year net profit: € 15.2 million up 47%
· Great success of Mangusta 165’ / 50-meter: over € 100 million
worth of orders
· Sales order backlog : € 445 million up 10%
Historic high for this time of year
RODRIGUEZ GROUP’s 2006/07 financial year ended September 30, 2007.
Rodriguez Group realized sales of € 467.8 million at September 30, 2007, in line with previous year sales (€ 474.7 million, down 1.5%).
Operating profit increased 37.8% compared to the previous fiscal year, to € 27.9 million.
These favorable developments were due in particular to good new yacht sales, to the reduced negative impact of the pre-owned yacht business and to the strong vigor shown by the Services.
Net profit - Group share was € 15.2 million, up 46.6% from 2005/06.
Sales order backlog at a historic high for this time of year
New Group models confirmed their success, as testified in particular by the Mangusta 165’ (50-meter) which has already recorded orders worth in excess of € 100 million.
The enthusiasm shown by our customers enabled the cumulative sales order backlog (current and subsequent years) at December 10, 2007 to increase by 10% to € 445 million, which is the Group historic high for this time of year.
The Group objective for 2007/08 New Yacht Sales is € 320 million.
Significant reduction in pre-owned yacht trade-in
The New Strategy implemented to limit pre-owned yachts trade-in is already bearing fruit.
Pre-owned yachts trade-in commitments at September 30, 2007 thus decreased 39% to € 92 million, compared to € 152 million at September 30, 2006.
This significant decline was made possible by the reduction of the trade-in ratio to less than 15% of new yacht sales (compared to 35% to 40% in previous years).
This highly selective trade-in policy, lower than 15% of new yacht sales, shall be continued over the coming years.
Continuing share buyback program
It will be recommended to RODRIGUEZ GROUP Annual General Meeting not to pay out any dividend in respect of the 2006/07 fiscal year, but to continue and possibly step up, depending on stock market conditions, the share buyback program initiated last year.
Drawing on a successful product range and a New Strategy which should generate significant benefits in 2008, the Group has a promising sales and profitability growth outlook.
· Great success of Mangusta 165’ / 50-meter: over € 100 million
worth of orders
· Sales order backlog : € 445 million up 10%
Historic high for this time of year
RODRIGUEZ GROUP’s 2006/07 financial year ended September 30, 2007.
Rodriguez Group realized sales of € 467.8 million at September 30, 2007, in line with previous year sales (€ 474.7 million, down 1.5%).
Operating profit increased 37.8% compared to the previous fiscal year, to € 27.9 million.
These favorable developments were due in particular to good new yacht sales, to the reduced negative impact of the pre-owned yacht business and to the strong vigor shown by the Services.
Net profit - Group share was € 15.2 million, up 46.6% from 2005/06.
Sales order backlog at a historic high for this time of year
New Group models confirmed their success, as testified in particular by the Mangusta 165’ (50-meter) which has already recorded orders worth in excess of € 100 million.
The enthusiasm shown by our customers enabled the cumulative sales order backlog (current and subsequent years) at December 10, 2007 to increase by 10% to € 445 million, which is the Group historic high for this time of year.
The Group objective for 2007/08 New Yacht Sales is € 320 million.
Significant reduction in pre-owned yacht trade-in
The New Strategy implemented to limit pre-owned yachts trade-in is already bearing fruit.
Pre-owned yachts trade-in commitments at September 30, 2007 thus decreased 39% to € 92 million, compared to € 152 million at September 30, 2006.
This significant decline was made possible by the reduction of the trade-in ratio to less than 15% of new yacht sales (compared to 35% to 40% in previous years).
This highly selective trade-in policy, lower than 15% of new yacht sales, shall be continued over the coming years.
Continuing share buyback program
It will be recommended to RODRIGUEZ GROUP Annual General Meeting not to pay out any dividend in respect of the 2006/07 fiscal year, but to continue and possibly step up, depending on stock market conditions, the share buyback program initiated last year.
Drawing on a successful product range and a New Strategy which should generate significant benefits in 2008, the Group has a promising sales and profitability growth outlook.