Fountaine Pajot - Untouched visibility after a year of excellent quality
Excellent operating performance in line with our expectations, with EBIT up 30%.Net income penalized by a €13M goodwill write-down on Dufour Yachts, justified by the need for prudenceStill a strong visibility, with stable advance payments of over €117 million, enabling the Group to confidently target organic growth of at least 10% in 2023/24.Ridiculously low valuation multiples, even lower than peers despite more robust growth prospectsBUY opinion maintained, with a target price of €150.0/shareFountaine Pajot S.A. Fountaine Pajot SA manufactures cruising catamarans.
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