5th consecutive year of growth
The Bénéteau Group has announced its final results for the 2018-2019 financial year. 1.336 billion, up +2.6% at constant exchange rates. The Boat Division, a mainstay of the leader in the French yachting industry, posted revenues of 1.144 billion euros, up +3.2% at constant exchange rates. This 5th consecutive year of growth is marked by a more timid evolution, the percentage increase being three times smaller.
78.2 million, down -13.8%. The Bénéteau Group explains this trend by the increase in depreciation and amortization and the rise in provisions.
97 million, after a year marked by the acquisition of the Delphia and Seascape brands.
Multihulls and boat rentals top the sales charts
Outboard motorboats and multihulls are the Bénéteau Group's main growth drivers, confirming its leadership in Europe and worldwide respectively. Yacht charter sales were up sharply, +29.7% at constant exchange rates.
Europe and North America continued to grow by close to +5%, while the rest of the world regressed, affected by the fall in the market for motor yachts over 60 feet.
Uncertainties over 2019-2020 and market reactions
The Bénéteau Group is revising its profitability ambitions for the year 2019-2020 downwards, notably in terms of operating income, but is forecasting growth in sales. The strategic announcements of the new CEO Jérôme de Metz are scheduled for April 29, 2020. The latter states that it has identified "areas of loss or underperformance" without specifying future policy. It should be noted that the official communication from the Bénéteau Group emphasizes the difficulties of motor yachts over 60 feet, for which a probable reorganization, already begun with the departure of Carla Demaria, can be anticipated.
The lack of visibility on industrial and commercial policy makes investors doubtful. The action, which had picked up after the Bénéteau Group's return conference at the Cannes Yachting Festival, fell by 10% at the opening on Wednesday 30 October 2019.