4th year of revenue growth
The Bénéteau Group presented its final results for the 2017-2018 financial year. Total revenue amounted to ?1.287 billion, up +8.5% at constant exchange rates. The boat division represents the largest part of the business with revenues of ?1.094 billion, up +9% at constant exchange rates. This is the 4th consecutive year of growth, confirming the good market recovery.
Operating margin and operating income increased thanks to higher volumes and efforts on operational execution. Adjusted operating income adjusted for currency hedges as a percentage of revenue was 7%, slightly higher than in the previous year.
Cash and cash equivalents also increased sharply, by 47.7%, to ?161.9 million.
Europe, Asia and multihulls as growth drivers
Multihulls and inboard and outboard motor boats are driving Bénéteau Group's growth, offsetting a decline in activity on large motor yachts. The importance of catamarans should increase in the coming year with the launch of the future Excess brand.
While the emerging Asia-Pacific markets continue to show strong dynamism with growth of +27.3%, Europe is on the rise. The increase is 12.7%. The rental market is also strong with +26.8%.
Results of the Boats division
The Beneteau group looks forward to the next fiscal year 2018-2019 with optimism. The evolution of the product offer will continue with the launch of 32 new boat models, bringing the renewal rate to 44% over 3 years. It is complemented by the development of services, through boat clubs, financing and digital offers of Band of Boats.
Industrial capacities will be further strengthened to follow the Transform to Perform plan. The group reports that it has reached half of its objective of doubling multihull production capacity by the middle of the plan to 2020.