Business news : Beneteau reports uplift in boat business

Barracuda 7

Growth outside of Europe boosts boat sales 3.5% in 3Q 2013
                   
The Beneteau Group has reported consolidated sales of €597.8 million through the third quarter of its 2013 year, with the Boat segment gaining 3.5% to €440.1 million for the first nine months, compared to the same period last year.
                   
The company said its performance was underpinned by expansion outside of Europe, where sales were up 34% at the end of May 2013 compared with the end of May 2012, representing a total of nearly €146 million.
                   
In North  America, Beneteau said sailboats have been driving results in the region, while its increasing investment in the motorboat sector over recent years has paved the way for growth of more than 40% for next fiscal year.  The report also cited Asia and South America as growth regions for its boat business, while the European market has contracted 15% in line with expectations.
                  
In terms of product lines, Beneteau said sales of its large motor yacht range incorporating the Prestige and Monte Carlo Yacht brands, doubled in the first nine month of the current financial year to reach €34 million. The builder expects the range to be further strengthened with the launch of MCY 86 at the Cannes boat show this autumn.
                   
Beneteau said its balance sheet remained healthy and has continued to support “a dynamic rate of product development.”
                   
The French boatbuilder is the top producer of sailboats worldwide and a global leader in the production of motorboats and yachts. Its brands include Beneteau, Jenneau, Lagoon, Monte Carlo Yachts, Prestige Yachts and CNB custom yachts, with production facilities in France, the US, Poland, Italy and Brazil. The boat segment represented approximately 73% of sales in its last fiscal year, with sailboats accounting for 41% and motorboats representing 32%. The remainder of the business is generated in the European leisure home market, where sales through the third quarter were down nearly -15% to €157.7 million.
                   
Over coming years, the company expects the motor boat segment to represent a growing proportion of the business.
                   
As a result of performance through the first nine months of its 2012-13 financial year, Bénéteau said it was able to confirm its full year forecasts, announced in January 2013, which called for 1.3% growth in boat sales to €618 million compared to €609.9 million the previous year.  Fourth-quarter sales for the Beneteau Group will be announced on September 23rd, 2013.

source Beneteau Group through IBI