Catana Group - Good start in 2023/24 with a double digit growth in Q1
Q1 revenues up 16%, of which 19% in new boats, despite challenging comparatives Q1 last yearGroup delivers unfinished yacht inventory at year-end, which was high due to supply chain problemsDeliveries and productivity back to normalConfirmed scenario of further sustained growth in 2023/24 thanks to the order book, before a downturn in 2024/25BUY opinion and adjusted downward price target in view of lower peer multiplesCatana 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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