Catana Group - Record margin again in H1, but lower demand materializes
Catana exceeded our H1 earnings expectations, returning to the record 16% EBIT Margin of H1 2021/22.Cash flow was slightly penalized by working capital requirements and by lower advance payments, reflecting demand which, unsurprisingly, is decliningA market that is slowing down and will certainly require downward price adjustments after the +30/40% increases seen in recent yearsA still positive opinion of the stock and of the sector, even if newsflow is losing momentum.Catana Group SA. Catana Group SA, formerly Poncin Yachts SA is a France-based company engaged in the construction and sale of sail and leisure boats. The Company also provides services, including maintenance of boats, sails and engines, garage rental and port security services. The Company offers four lines of boats, Catana, Harmony, White Shark and Sea Hawk. It operates two production sites, located in Canet en Roussillon and in Marans. Poncin Yachts SA also provides a yacht brokerage service that sells new and second-hand boats.
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