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Halfway through the 2025 2026 financial year, Hunyvers' business is stable overall, but the lines are shifting between its two core businesses, boating and leisure vehicles.
Growth in off-season boating, a signal to be deciphered
The marine division achieved sales of ?6.9 million, up 47.1% on a reported basis and 21.6% on a like-for-like basis. This increase comes in a historically sluggish half-year, which represents only around 25% of annual sales.
Out-of-season growth often reflects the anticipation of orders, linked to range renewals or budget arbitrages ahead of the season. But this dynamic also raises logistical issues. Yards and concessions have to absorb these volumes before the high season, with constraints on preparation, storage and launching capacities.
Integrating shipyards, a concrete industrial lever
The consolidation of Chantiers navals du bassin d'Arcachon, integrated on December 18, 2024, contributed ?1.2m to sales. This type of acquisition changes the Group's structure. From a technical standpoint, it means a greater presence in activities linked to maintenance, refit and preparation of units. And for yachtsmen, it means greater proximity to infrastructures capable of working on hulls, propulsion systems and fittings.
But this integration also requires harmonization of methods, standards and teams. In a sector where the quality of a boat's preparation determines its safety at sea, this point remains central.
VDL in retreat, indirect impact on the boating industry
The Leisure Vehicle Division fell by 7.4% to ?40.7 million, with a sharp 11.2% decline in pre-owned sales. New vehicles limited the decline to 5.9% over six months, with a 5.7% rebound in the second quarter.
Why is this relevant to boating? Because these two markets share similar customer bases, often oriented towards itinerant tourism. A slowdown in motorhome sales may reflect a cautious attitude on the part of households to the current economic climate. At the same time, however, boating is benefiting from a carry-over effect. Local tourism and coastal holidays remain attractive, particularly in an uncertain geopolitical environment.
Good order book, but dependent on the season
The Group reports a solid order book for both activities. In the marine sector, the new ranges seem to be well received.
This point relates directly to fleet renewal cycles. Engines, hulls, electronic equipment: technical developments influence purchasing decisions.
But the main focus remains on the high season. The spring-summer period concentrates the bulk of deliveries and launches. Favourable weather, good unit availability and smooth logistics all play their part in determining annual performance.
On the road to operational recovery
With half-year sales of ?47.6 million, down just 2.2%, Hunyvers is aiming for a return to positive momentum over the full year.
For yachting players, this positioning reflects a market in a phase of adjustment rather than disruption. Demand is still there, but it is being expressed differently, with greater anticipation and more pronounced arbitration.
