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A second consecutive year of declining sales
The slowdown in the recreational boating market continues to weigh on Fountaine Pajot?s business. For its fiscal year ended August 31, 2026, the French group reported consolidated revenue of 291.3 million euros, compared with 323.2 million a year earlier. The decline amounted to 9.9%, representing a decrease of 31.9 million euros.
This decline follows the 8.2% drop recorded during the 2024?2025 fiscal year. Over the past two years, the group?s revenue has thus fallen from 352 million euros in 2023?2024 to 291.3 million, representing a cumulative decline of approximately 17%.
However, the trend was less negative toward the end of the fiscal year. After a 12.8% decline in the first half of the year, sales fell by 7.1% in the second half. Fountaine Pajot sees this as the first sign that demand is stabilizing.
However, this relative improvement does not yet signal a return to growth. At this stage, the group is not providing any specific figures on order intake or revenue forecasts for 2026?2027.
North America grew by 43% and now accounts for 27% of sales
The geographic distribution of the business reveals contrasting trends.
International sales still account for 85% of the group's revenue. Europe (excluding France) remains the top market, accounting for 38% of sales, ahead of North America, which now accounts for 27%.
This region stood out with a 43% increase over the fiscal year. This growth helped partially offset the slowdown seen in other markets.
Major export markets account for 12% of business, the Caribbean for 7%, and France for 15%.
For Fountaine Pajot, this growth in North America underscores the importance of geographic diversification. It also highlights the growing significance of this market for the manufacturer, even as demand remains more subdued in several other regions.
FP48, FP55, FP70, and Dufour 39: An Accelerated Model Lineup Refresh
In the face of declining sales, Fountaine Pajot is continuing its program to develop new models.
The FP41 and FP44, as well as the Dufour 41, 44, and 54, contributed to the group's performance in the past fiscal year, according to the group.
The 2026 boating season marked a new milestone with the simultaneous unveiling of three catamarans?the FP48, FP55, and FP70?along with the Dufour 39 in the monohull segment.
This surge in new product launches is intended to refresh the product lineup across several size categories and support the sales network in a market that has become more competitive.
Fountaine Pajot notes that the positive reception these new products have received is helping to boost its order backlog for 2026?2027. However, the manufacturer does not specify the size of this backlog or how it has changed compared to the previous fiscal year.
The impact of these launches on revenue will therefore depend on whether they result in firm orders, and then on the production and delivery schedule.
A 120-foot catamaran and a joint venture for hybrid propulsion
In addition to updating its mass-market lines, the group is preparing to enter a larger segment with a 120-foot catamaran project.
This future flagship, currently in the design phase, is scheduled to be officially launched in 2028. Fountaine Pajot thus aims to expand its presence in the market for large custom multihulls, where industrial and commercial requirements differ from those of mass production.
At the same time, the group is continuing its work on electrification through E-Lektra, a joint venture owned equally by the group and the Beneteau Group.
This organization develops hybrid electric propulsion systems for monohull and multihull sailboats. A key objective is to pool technological and industrial developments between two manufacturers facing the same challenges related to propulsion and onboard energy management.
This publication does not provide any revenue targets or a detailed timeline for the industrial rollout of E-Lektra.
International Brokerage and Expansion into Greece: New Sales Channels
Fountaine Pajot is also expanding its business beyond the construction of new boats.
With Velite, the group is launching an international brokerage business focused on used boats. This diversification will enable the group to leverage its network and technical expertise to enter the used boat market.
The manufacturer also announced the creation of a distribution subsidiary in Greece, aimed at strengthening its presence among homeowners and rental professionals.
In particular, this direct presence can facilitate relationships with local operators and give the group a better understanding of this market's needs.
These two initiatives reflect a desire to diversify sources of revenue and strengthen business relationships with customers, going beyond the mere sale of new boats. However, their economic impact has yet to be assessed.
Expected profitability and order backlog in December
Fountaine Pajot is entering its new fiscal year with a significantly revamped product lineup and increased exposure to several international markets.
The slowing decline in sales during the second half of the year is an initial positive sign. However, the data released so far do not yet allow us to determine whether this trend will lead to a sustained recovery in business activity.
The upcoming results should, in particular, make it possible to assess the impact of the decline in revenue on margins and operating profitability, against the backdrop of ongoing investments.
The group will release its full-year financial results during the week of December 21, 2026. This announcement will provide further insight into its financial position and its ability to finance the renewal of its product lines during this period of adjustment in the boating market.
