Beneteau slows its pace in a declining market
The start of 2025 confirms the slowdown in the world yachting market, directly affecting Beneteau's order books. Group sales, down to 130 million euros, are down 43% on the same period last year. This trend, which began in 2024 with a decline of 39%, is taking place against a backdrop of persistent economic tensions, particularly in the North American market.
The US market at the heart of uncertainties
The trade situation between the United States and its partners continues to worry the marine industry. For Beneteau, potential fluctuations in customs duties are weighing on the purchasing decisions of North American customers, a strategic segment for the manufacturer. This climate of instability is generating a wait-and-see attitude that is affecting both end-customers and distribution networks. The slowdown is being felt across all ranges, both sail and power.
Production in Vendée: adaptation under pressure
The Group's factories in Saint-Gilles-Croix-de-Vie and the rest of the Vendée region are now operating at a low level. Faced with falling orders, Beneteau is resorting to short-time working to adjust production capacity. This reduction in activity is affecting several industrial sites, and is calling into question initial growth forecasts for 2025.
Industrial strategy: network support and new units
Despite these economic difficulties, the Group's management anticipates an upturn in business for the second half of 2025. Twenty new boat models, ranging from 8 to 24 meters, are due to be launched in the coming months. The emphasis is on renewing the product offering and strengthening relations with distributors, in order to revive sales momentum from autumn 2025.
A half-year loss expected
Beneteau's management has already confirmed that the accounts for the first half of 2025 will show a loss. This announcement provoked an immediate reaction on the stock market: the share lost almost 10% on May 14, 2025, increasing its annual decline to around 50%. This stall reflects investors' mistrust of the sector's development and the Group's dependence on global macroeconomic conditions.
As the summer season approaches, the yachting industry is keeping a close eye on the decisions taken by the major manufacturers. For Beneteau, the transition to a more buoyant second half will depend on the ability to relaunch production, consolidate its historic markets and adapt its offering to the expectations of a more cautious public. It remains to be seen whether range diversification will be enough to offset the current turbulence in the global market.
