A strong increase in 2021
Brunswick Group's 2021 earnings release for the final quarter and its full fiscal year is marked by strong growth. Annual sales were $5.85 billion, up 34.5%, while operating gains were $812.9 million, up 50.7%, with an operating margin of 13.9%.
Although less pronounced than for the year as a whole, the trend remained strong in the last quarter, with overall sales up 23.2% to $1.431 billion. Propulsion, which includes Mercury Marine, saw sales increase by 12%, with strong demand in all power segments. Accessories and spare parts grew by 40% if recent acquisitions are taken into account, including the electronics heavyweight Navico. For an equivalent brand portfolio, growth was limited to +4%. The motorboat division posted the strongest growth, with +14%, in response to very high dealer demand.
Optimistic outlook for 2022
Brunswick executive David Foulkes sees these numbers as the basis for continued growth in 2022. "We believe that high production levels over time will be necessary to meet dealer demand and rebuild boat and engine inventories, and along with significant new product offerings for varnishing, increased boat and engine production capabilities, and exceptionally strong boating practice, we anticipate overall sales growth in all of our product categories in 2022 and beyond."
The estimated sales volume for 2022 is between $6.7 and $7 billion.
