September 30 saw the RODRIGUEZ GROUP complete the fourth quarter of its financial year 2011/2012. This was marked by the sale of its new 50-metre motor yacht Azul. The spectacular 165’ superyacht Azul is a result of the successful partnership between RODRIGUEZ GROUP and the ITALYACHTS SHIPYARD.
Italyachts 50M superyacht Azul sold by Rodriguez Group
Barely two months after delivery, in July 2012, of its two main units over 40 metres – the 40 ALLOY motor yacht 111 by SANLORENZO and the 43-metre ITALYACHTS superyacht Azul – the success of the new range of large RODRIGUEZ GROUP yachts materialized with the sale of the 165′ all-aluminium superyacht Azul.
Created in the summer of 2010, the Italyachts 50M yacht Azul was conceived and developed by the RODRIGUEZ GROUP sales teams, in collaboration with the Italian naval architect Andrea Bacigalupo, to whom the boat owes its streamlined shape and the perfect mix between living capacity (five cabins, including an owner’s suite with access to the main deck, an upper deck opening onto a large terrace equipped with a bar, solarium and Jacuzzi) and sailing speed.
Powered by Rolls Royce hydrojets and two MTU 2600Hp engines, the exceptional Azul yacht can reach 30 knots with a draught not exceeding 1.75 metres: a feat for a unit of this size.
With three large units delivered or sold during the summer of 2012, the RODRIGUEZ GROUP confirms the pertinence of its business plan, which aims to anticipate, and even create, the needs of its customers.
The turnover for boat sales thus came to €29.9 million in the 2nd half of 2011/2012 (period from 1st April to 30th September 2012), an increase of 4% compared to the 2nd half of 2010/2011 where the boat sales generated a turnover of €28.7 million.
For the financial year 2011/2012, boat sales recorded a total turnover of close to €50 million, compared to €70.8 million the previous year.
This drop in turnover calls for two comments:
- it is partly a consequence of the drop in turnover linked to the sale of second-hand yachts, going from €17 million in the financial year 2010/2011 to €8.4 million this past year; as announced by the RODRIGUEZ GROUP, the policy of clearing stock and limitation of trade-ins was successful, with the sale of the last large vessels from the old stock;
- THE RODRIGUEZ GROUP now favours the generation of a turnover that generates margin, by focusing on the design and sale of large new units with longer production times (the first 165’ Azul yacht will be delivered in 2014) rather than volume.
Today, sales of new boats represent 83% of the boat sales, compared to 76% for the financial year 2010/2011.
For the management of the RODRIGUEZ GROUP the improvement of this ratio is the concrete materialisation of strategic directions taken by the Group over the past two years, organized around two important mainstays:
- the development of the range toward very large yachts, while keeping the technical and design features of the very first RODRIGUEZ GROUP models;
- the development of the key factors to the Group’s success, deployed in a variety of forms through the numerous services provided to its customers and potential customers.
Consequently, the Services business confirms its strong performance of previous years, by generating a turnover of €28.3 million for the financial year 2011/2012, in line with the €29.2 million recorded for the year 2010/2011.
The 11% decrease recorded for the fourth quarter of 2011/2012 (€8.6 million turnover, compared to €9.6 million the previous year) is only the result of the anticipated start of the 2012 season.
More than ever, the good health of the Services business affirms the RODRIGUEZ GROUP as a major player in all the occupations of the yachting business.
Ultimately, the overall consolidated turnover of the Group amounted to €77.9 million for the financial year 2011/2012. THE RODRIGUEZ GROUP is particularly pleased with the good performance achieved in second half of the year, where the consolidated turnover reached €47.7 million, in line with the level achieved in the second half of 2010/2011.
It is on this very positive note that THE RODRIGUEZ GROUP exclusively presented at the Festival de la Plaisance de Cannes in September 2012 the latest addition to its range of Sport Fly boats, a 102’ superyacht built by the Italian shipyards, CERRI.
Cerri 102' superyacht
The enthusiastic response to this new boat by industry professionals attending the show, who unanimously praised its line, elegance and comfort, promises an equally favourable reception by those who love fast boats.
By means of a realistic and effective development policy, THE RODRIGUEZ GROUP continues, season after season, the construction of its new economic model and progressively consolidating the fundamentals of its turnaround.
Key events of the past quarter
The fourth quarter of 2011/2012 was marked by the following events:
- the sale of the new generation 40 ALLOY motor yacht 111 by SANLORENZO, marketed exclusively by the RODRIGUEZ GROUP;
40Alloy superyacht 111 by Sanlorenzo at launch
- the delivery of a new 43-metre ITALYACHTS (150’ Azul), the third unit in the range produced by ITALYACHTS since 2010 ;
- the sale of the 50-metre ITALYACHTS megayacht (165’ Azul), an aluminium yacht with innovative technology and outstanding technical performance;
- the celebration of the 40th anniversary of the RODRIGUEZ GROUP trademark, four decades of pleasure and passion for Luxury Yachting celebrated in Saint-Tropez during the 18th RODRIGUEZ RENDEZ-VOUS in the company of group’s partners and customers;
- publication of the consolidated turnover of the 3rd quarter of 2011/2012.
RODRIGUEZ GROUP will publish this coming December 13th its annual results for the financial year 2011/2012.
RODRIGUEZ GROUP is listed in compartment C of the Eurolist Paris (ISIN code: FR0000062994).
