(€ thousands) | 2011/2012 | 2010/2011 | % change |
Yacht | 9 775 | 20 511 | (52%) |
Services | 4 182 | 4 832 | (13%) |
Total | 13 957 | 25 343 | (45%) |
On December 31, 2011, RODRIGUEZ GROUP closed the 1st
quarter of its 2011/2012 financial year.
1st quarter consolidated sales,concerning
the period from October 1, 2011 to December 31,
2011, were € 13.9 million€ 9.7
million from Yacht Sales and € 4.2 million generated by
Sales of Services, including transactions carried out
by the Camper & Nicholsons Group.
Even though the Group's overall performance
reflected a 45% decline in sales compared to the 1st
quarter of 2010/2011, RODRIGUEZ GROUP would like to
point out that this is an automatic consequence of the
change in its business model.
By steering production towards the development of large
yachts, with ITALYACHTS' 50 meter and ALLOY
SANLORENZO's 40 meter as flagship products, which
take longer to build (an average of 18
months),RODRIGUEZ GROUP has decided to consider the 1st
quarter of the fiscal year as a period where it
prepared for the coming season and showcased its models
to customers.
RODRIGUEZ GROUP currently does not anticipate the New
Yacht Sales business to take off before the 2nd or even
the 3rd quarter of its fiscal year. The Group's
commercial ambitions for these products will focus on
these periods.
Furthermore, by putting a cap on the number of
trade-ins and accelerating its destocking policy, the
Group intends to significantly reduce the volume of
Pre-Owned Yacht sales, hence the 42.6% decline between
the 1st quarter of 2010/2011 and the 1st quarter of
2011/2012.
Lastly, the Services business remained stable, with an
immaterial decline of 13% compared to the 1st quarter
of the previous year.
RODRIGUEZ GROUP will also announce tomorrow the
signing of a new exclusive partnership with a famous
shipyard which specializes in super yachts.
HIGHLIGHTS OF THE PAST QUARTER
-
On December 14, 2011, RODRIGUEZ GROUP published annual
results for the 2010/2011 fiscal year, which showed
consolidated sales in excess of € 100 million and a €
53.4 million improvement in losses from recurring
operations;
-
Anne-Lise Colonna de Leca, General Secretary, has been
appointed as Chief Financial Officer of RODRIGUEZ
GROUP. She holds a Master's degree from the High
Business School ESCP Europe (2004) and is a former
barrister with the Paris Bar, where she specialized in
turnaround management. Anne-Lise Colonna de Leca will
be specifically in charge of identifying areas of
possible growth, both organic and through acquisitions,
and will set out objectives and allocate resources in
order to restore operating profitability;
-
The Camper & Nicholsons Group announced the recruitment
of Daniel Ziriakus as Marketing Manager. Having headed
the Marketing Department of Fraser Yachts USA for
several years, followed by his appointment as Northrop
and Johnson's Marketing Manager, Daniel
Ziriakus' proven know-how is recognized in the
super yachting world in his field of expertise. His
appointment to the Camper & Nicholsons Group completes
the new management team built around Eric de
Saintdo.
RODRIGUEZ GROUP will meet its shareholders on March 30,
2012 at the General Meeting called to approve the
financial statements for the 2010/2011 fiscal year.
The next press release will relate to sales for the 2nd
quarter of 2011/2012 and will be published on May 15,
2012.
RODRIGUEZ GROUP is listed in Compartment C of
Eurolist Paris (ISIN Code: FR0000062994)
For further information or to subscribe to our regulated
information newsfeed:
Direction Financière RODRIGUEZ GROUP
105 avenue des Frères Roustan
06220 Golfe-Juan
Tel.: 04 97 21 81 81
E-mail:
finance@rodriguezgroup.com
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