TRADE ONLY TODAY EDITORS UPDATED ON APR 30, 2019
Groupe Beneteau today reported $452.9 million (€403.8 million) in sales for its Boat division for the six-month period ended March 31, 2019. That represents a 5.6 percent gain compared to the same period a year earlier. The Boat division’s loss from ordinary operations was $12.3 million (€11 million) compared with a loss of $13.4 million (€11.9 million) the previous year. The company said its boat sales are growing at twice the rate of the global market.
Including its manufactured housing division, Groupe Beneteau reported companywide sales of $556.2 million (€495.9 million), up 5.6 percent compared to the six-month period of the previous year.
The company reported a 13.9 percent increase in EBITDA at constant exchange rates.
Groupe Beneteau said on March 31, 2019, the order book for the Boat business was up 4.3 percent, based on reported data.
“The Boat Division’s growth is being driven by the European brands’ good results on the North American markets and by fleets, with multihulls making strong progress,” said the statement. “Sales in continental Europe are continuing to progress, while certain markets such as the UK and Turkey have contracted sharply, resulting in a slight drop in sales for the European region overall.” Growth in sailboat fleet sales and the completion of its Figaro 3 Beneteau program have pushed the percentage of sailing vessels up 6 percent to 50 percent of its Boat Division revenues for the first half of the year. Groupe Beneteau said it invested $2.9million (€2.6 million) in product development during the first half of its fiscal year, including the development of the Excess multihull range with five models, the development of the Sun Loft 47 and the construction of the first two Excess 12 and 15 boats, which will be released over the next year. The company reiterated its earlier forecast of consolidated revenue growth of around +2 percent to +4 percent at constant exchange rates and +3 percent to +5 percent on a reported basis for its full fiscal year. The Boat division is forecasting revenue growth of 4 to 6 percent.