Catana Group (CATG) H2 23/24 earnings summary

Executive summary

• Achieved record net profitability at 12.9% of revenue for 2023/2024, with revenue up over 10% year-over-year to €229.5M.

• Net income attributable to the group rose 53% to €29.7M, reflecting strong operational alignment and cost control.

• Board proposes a dividend of €0.18 per share (+20% vs. prior year) and a transfer to Euronext Growth Paris.

• Management anticipates a transitional 2024/2025, with early signs of order recovery after strategic price reductions.

Financial highlights

• Revenue increased to €229.5M from €207.3M year-over-year (+10.7%).

• Operating income rose 46% to €37.4M, representing 16.3% of revenue.

• Net cash position at €16.3M, with available cash of €50.2M and financial debt of €33.9M.

• Investments reached €25.8M, mainly for new product development and the Aveiro factory.

• Equity attributable to the group increased to €93.5M from €72.8M.

Outlook and guidance

• 2024/2025 expected to be a transitional year as the market stabilizes post-COVID euphoria.

• General price reductions (2–8%) implemented to stimulate demand and improve order visibility.

• Early indicators from boat shows suggest order intake is recovering compared to last year.

• Management remains cautious due to ongoing economic and geopolitical uncertainties.