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Piscines Desjoyaux Riding the Wave of Record Results


The family business has published record performance figures for the 2020-2021 financial year. It intends to accelerate its international growth.

Piscines Desjoyaux is riding the wave of record results | Photo credits: Desjoyaux

Piscines Desjoyaux is not about to slow down any time soon. On Friday, the family-run group, number one for inground swimming pools in Europe, published record results for its 2020-2021 financial year, which came to a close in August. Its turnover reached 161 million euros, up by 39.7%. “Our volume of business is growing both in France and internationally,” said the group, which sold some 13,100 pools, compared to 9,400 the year before. The number of ‘8m x 4m equivalent’ pools sold in France during the financial year increased by 28% and the turnover by 33%, thanks to sales of accessories.

On the profitability side, its operating profit from ordinary activities was also higher than ever, at 35.06 million, after a 67.1% increase. Finally, the group’s share of net profit rose by 82.1% to 25.5 million, giving a margin of 15.8%. It was 12.1% the previous year. “This remarkable growth is the result of several factors; an increase in sales of close to 40%, tight control over the consumables purchased, maintenance of the operating margin, control over external expenses and other expenses in general and control over payroll costs”, according to Piscines Desjoyaux.

No debt

The group, which makes over half of its sales in France, wants to balance out its international presence, which should reach 50% of the turnover in the short term. To help it towards this goal, Piscines Desjoyaux has a solid enough balance sheet to turn other companies green with envy; at the end of August, its shareholders’ equity was close to 98 million euros alongside a net cash flow verging on 37 million. “Net gearing ratio is -37.62% compared to -25.37% on 31 August 2020”, the group calculated.

Despite some profit-taking, shares, which are quoted at €28.90, have stayed very close to the peak of €31.90 they reached in August. The group is not making predictions for the future, but it considers that its “leadership and the attractiveness of Desjoyaux’s offering allow us to be optimistic about the current financial year,” also adding that it “would be satisfied with consolidating recent achievements, especially given the recent events related to COVID-19 and the context of the election year to come in France.” »
Article published on | 21/12/2021