Posted Jan 11, 2023, 6:13 PM
Fountaine Pajot is sailing in clear weather, and is tackling the next few months with serenity. With a full order book and the gradual reduction of certain economic difficulties, the manufacturer of high-end boats anticipates growth of 10 to 15% in 2023, he said on Wednesday.
It also presented solid results for its 2021-2022 financial year, which ended on August 31, with revenue up 8.7 to nearly 220 million euros. Its net income group share jumped 37.1% to 15.9 million.
Engines still affected by supply difficulties
Some black spots remain despite everything with, first of all, the problems of the “supply chain”, which have disrupted the smooth running of the group. They result in large stocks, since certain parts run out and prevent the boats from being delivered. But a return to normal no longer seems far away, only certain engine parts still being affected by supply difficulties, its leaders said.
Unsurprisingly, Fountaine Pajot has also seen its costs increase due to inflation, with its suppliers’ prices rising by 5-6% on average. But this inflation was absorbed by a sharp rise in its own selling prices. The trend should also continue, and half of the growth in its turnover next year will be due to a “price effect”, according to the company.
As for energy prices, the latter ensures that its exposure remains low, despite the need to heat factories and light buildings.
Despite everything, with a portfolio of orders exceeding 600 million euros, Fountaine Pajot can see ahead and concentrate on its projects. The group intends to continue its move upmarket and this summer will launch the New 80, its new flagship, the selling price of which will be around 7.5 million euros. He will also bet on the habitable monohulls manufactured by Dufour, acquired in 2018, and hopes to make the entry-level D37 sailboat (150,000 euros) a bestseller.
Above all, he wants to continue the execution of his Odysea 2024 plan, intended to promote environmental transition in the nautical industry. At the heart of this project is the electrification of a large part of the new boats, thanks to various technologies. Solar energy, wind energy, and tidal energy, (with propellers turning in reverse to produce electricity), are already among the solutions exploited, and their commercial development should accelerate.
Another track leads to hydrogen fuel cells, which Fountaine Pajot hopes to install for the first time this year. They could eventually extend the autonomy of a 100% electric boat.