Groupe Beneteau raises financial forecast
Owner of 11 yacht-building brands, the France-based conglomerate has announced impressive growth from its Boat and Housing divisions.
Groupe Beneteau has revised its forecast for 2021 income from ordinary operations up to between €59 million and €65 million (US$68 million-US$75 million), representing 115-135% growth versus the 2020 pro forma figure of €27.5 million, while predicting its full-year revenue growth to be over 7%.
Sales almost doubled in October, taking consolidated 10-month revenues up to €1,012 million, with 3.1% growth based on reported data (4.4% at constant exchange rates) versus the same period in 2020.
Following a very robust October for both divisions, strong sales growth is also expected for November and December, which is why the Group announced a forecast for revenue growth of over 7% on a reported basis for FY 2021, based on 6% growth for the Boat division and 15% for the Housing division.
The Boat division recorded 2.8% growth during the first 10 months of 2021 (4.2% at constant exchange rates), with +8.3% for boat sales to the distribution networks (excluding fleets), continuing to be driven by strong demand across the day boating segments.
The Housing division achieved 37.8% growth in the third quarter based on reported data, with a 5.5% increase over 10 months, buoyed by strong demand in Northern Europe.
The very high order book at the end of October for each of the two divisions is aligned with their 2022 roadmap for double-digit growth. These results have been achieved despite a cyberattack in February, significant supply chain disruptions and the fire that affected a Housing division site in August.
Groupe Beneteau will be reporting its full-year revenues (FY 2021) after close of trading on February 24, 2022, and its full-year earnings on March 17, 2022.
The Beneteau First 36 sailing yacht will debut at Boot Dusseldorf, with a stock unit arriving in Asia through regional dealer Simpson Marine.