Rodriguez Group: the luxury keeps stable
The world leader of Open ships in Cannes progressed of 300% at the Second Market since January 1st 2000 and announces an order book worth more than a billion francs.
Whereas the Stock Market faces a slump, a security keeps stable : Rodriguez Group's security on the second market. On Wednesday March 21st, in a general turmoil of market places, after the fluctuation of the security during the session, it remained stable at 310 euros, approximating its highest score (326 euros reached during the year 2000). This progression approximates 300% since January 1st 2000 and more than 600% since its listing three years ago. Very few securities did the same...Gérard Rodriguez hands over to his son, AlexandreThese figures will certainly be underlined on Thursday March 22nd at the Majestic in Cannes, during a general assembly of the company, which promises to be exceptional. It promises to be exceptional because the founder, Gérard Rodriguez will hand over the board of directors' presidency to his son, Alexandre Rodriguez, 30 years old. Gérard Rodriguez, 63 years old, will remain President of the Directorate.Concerning figures, in a press release, the group insists on what it considers to be a non-exposure to economic cycles. It was written: 'Out of the economic slowdown and the market behaviour, sales for the current year and years to come are done in excellent conditions, what confirms the non-exposure of the group to economic cycles. Rodriguez Group confirms that nearly all its customers are billionaires (in French francs or even in dollars), and whose patrimony, obtained in the traditional economy, clearly enables to absorb the economic crisis'.A new Open of 41 meters worth 100 million francs!'Far from noting a slowdown, on the contrary, Rodriguez Group benefits from a boom in buy orders (as the order book proves it), what confirms the significance for the position of the group in luxury.A few figures are given to back this up: on March 10th, the order book for the current period reaches 570 MF, either about 95% of the production and a progression of 70% compared to the previous year. On both periods of 2001/2002 and 2002/2003, this order book exceeds a billion francs.The world leader of Open ships also announces the launch of a new model of Open ship of 133 feet, either 41 meters. It will be the biggest Open worldwide, beyond the Open 105 and108 that the group had already launched. It will be sold on the market for a price of 100 million francs and delivered during summer 2003. The first unit, which has already been booked, will exceed a speed of 45 knots. Another new fact: the acquisition of an important company in the brokerage and the charter profession, for which negotiations are already well advanced.All these factors enable Rodriguez Group to announce a growth of the turnover of more than 30% for 2000-2001. It is good news in the negative context of these last weeks at the stock exchange.