Financial Performance - The group's net revenue for the six months ended June 30, 2024, was approximately €646.4 million, an increase of about 11.3% compared to €580.8 million in the same period of 2023[2] - The group's profit for the same period was approximately €44.0 million, reflecting an increase of about 7.6% from €40.9 million in the prior year[2] - Adjusted EBITDA for the six months ended June 30, 2024, was approximately €96.7 million, up about 15.9% from €83.4 million in the same period of 2023[2] - The total comprehensive income for the period was €44.7 million, compared to €38.9 million in the same period of 2023[6] - The company reported a pre-tax profit of €63,835 thousand for the six months ended June 30, 2024, compared to €55,512 thousand for the same period in 2023, reflecting an increase of 15%[9] - The adjusted earnings per share for the six months ended June 30, 2024, was €0.13, compared to €0.12 for the same period in 2023[43] - The net income increased by approximately 11.3% to €646.4 million for the six months ended June 30, 2024, compared to €580.8 million for the same period in 2023[56] Assets and Liabilities - As of June 30, 2024, total assets amounted to €1,644.2 million, an increase from €1,602.2 million as of December 31, 2023[8] - The company's equity attributable to shareholders was €850.6 million as of June 30, 2024, compared to €838.8 million at the end of 2023[8] - Trade receivables as of June 30, 2024, amounted to €25,424 thousand, up 13.4% from €22,427 thousand as of December 31, 2023[29] - Trade and other payables totaled €462,901 thousand as of June 30, 2024, an increase of 4.1% from €444,521 thousand at the end of 2023[37] - The allowance for doubtful accounts increased to €4,064 thousand as of June 30, 2024, from €3,496 thousand at the end of 2023, reflecting a rise in expected credit losses[30] Cash Flow and Investments - Operating cash flow for the six months ended June 30, 2024, was €58,615 thousand, a decrease from €62,076 thousand in the same period of 2023, representing a decline of 7.4%[9] - Total cash and cash equivalents at the end of June 30, 2024, were €273,657 thousand, down from €309,660 thousand at the end of June 30, 2023, indicating a decrease of 11.6%[10] - The company incurred a net cash outflow from investing activities of €58,651 thousand for the six months ended June 30, 2024, compared to €36,629 thousand in the same period of 2023, representing an increase of 60.2%[10] - The company’s financing activities resulted in a net cash outflow of €40,499 thousand for the six months ended June 30, 2024, compared to €31,533 thousand in the same period of 2023, reflecting an increase of 28.4%[10] Costs and Expenses - Personnel costs totaled €74,377,000 for the six months ended June 30, 2024, up from €65,088,000 in 2023, indicating an increase of 14.1%[24] - Other service costs reached €59,293,000 for the six months ended June 30, 2024, slightly up from €58,856,000 in 2023, showing a marginal increase of 0.7%[22] - The total amount of other operating expenses for the six months ended June 30, 2024, was €5,862,000, significantly higher than €2,953,000 in 2023, indicating a rise of 98.5%[25] - The contractor costs increased by approximately 28.1% to €131.7 million due to increased production activities to meet order growth[62] Strategic Developments - The company announced the launch of the second model of the INFYNITO yacht series, the INFYNITO 80, in the first quarter of 2024[2] - An agreement was signed to acquire an additional 30,000 square meters of land adjacent to the San Vito shipyard, increasing the total production area in Ravenna to approximately 100,000 square meters, enhancing production capacity by 10%[3] - The company participated in major yacht exhibitions worldwide, including the Düsseldorf Boat Show and the Miami International Boat Show in early 2024[3] - The company plans to establish a formal process to identify and assess climate-related risks and opportunities, aligning with the priorities recognized by the European Securities and Markets Authority[17] - The company aims to invest in innovation and sustainable materials to reduce environmental impact and enhance the sailing experience[49] Shareholder Returns - A dividend of €0.097 per share, totaling €32,832,817.44, was paid to shareholders on June 26, 2024[3] - The company did not issue any new shares during the six months ended June 30, 2024, and paid dividends amounting to €32,833 thousand, compared to €19,903 thousand in the same period of 2023, an increase of 64.9%[10] Market Position and Future Outlook - The company reported a significant increase in commission advances to €7,641 thousand as of June 30, 2024, compared to €5,177 thousand at the end of 2023[34] - The accumulated orders reached €1,495.8 million, an increase of approximately 6.0% from €1,410.5 million as of June 30, 2023[50] - The sales revenue from composite yachts increased by approximately 9.9% to €265.5 million for the six months ended June 30, 2024, compared to €241.6 million for the same period in 2023[58] - The sales revenue from superyachts surged by approximately 27.3% to €82.5 million for the six months ended June 30, 2024, compared to €64.8 million for the same period in 2023[59] - The company is focused on innovation in new product development and technology, aiming to strengthen its competitive position in the market[92]
法拉帝(09638) - 2024 - 中期业绩