/ 
French leisure vehicle and marine distributor Hunyvers has just published its annual results for the year ending August 31, 2025. Despite external growth in the marine segment, the company reported an overall decline in sales, mainly due to a sluggish second half of the year in the boat market.
Business downturn concentrated at the end of the year
With consolidated sales of 122.7 million euros, Hunyvers posted an annual decline of 5.9% on the previous year. This contraction reached 10.8% on a like-for-like basis, confirming the significant impact of the economic and geopolitical context on purchasing decisions.
Despite the integration of four major acquisitions (including Groupe LBC Nautic, Pneumarine Services and AD Marine), the marine division was unable to offset the decline in organic sales. Nautical sales rose mechanically by 14.8%, but fell by 22% on a like-for-like basis.
A difficult summer in 2025 for the boating industry
The fourth quarter, which historically accounts for almost 45% of annual sales in the marine sector, was particularly depressed. Hunyvers recorded marine sales of 6.8 million euros over the period, down 9.9% on a consolidated basis and 38% on a like-for-like basis.
According to management, this downturn is linked to customers' increased wait-and-see attitude in the face of economic uncertainties, international geopolitics and domestic political tensions. A phenomenon that has impacted the entire French yachting market in summer 2025.
Operating profit positive but down
Due to the lower-than-expected level of sales, the company will not be able to achieve its initial target of operating margin growth. However, it anticipates positive operating income for the year, and confirms its objectives of reducing debt and returning to positive cash generation, supported by lower inventories.
First signs of recovery in autumn
Hunyvers reports an improvement in order intake in the marine sector in September 2025, to be confirmed over the coming months. The market, which is emerging from several years of post-Covid overheating, could return to a more stable level of activity, driven by the renewal of the offer, the emergence of new uses (charter, alternative propulsion) and a gradual return of confidence.
