After further strengthening its global position on both sailing yachts and motorboats, with a positive order book at end-November, the Boat business expects its annual growth to be considerably higher than the level of billing for the first quarter, while the contraction for the Housing business over the full year is set to be considerably less marked than during the first quarter.
Traditionally, the first quarter’s revenues are not particularly significant in terms of the Group's business, accounting for 10 to 15% of sales over the full year.
OUTLOOK FOR THE YEAR
For the Boat business, the good performances achieved at the recent boat shows confirm the forecasts for the global market to grow by around 3 to 5% for the 2014 season.
In Europe, where several markets are in a recovery phase, the market’s contraction is expected to be limited compared with the previous season, coming in at between 0 and -5%. With a growing motorboat range, the Group is positioned to benefit from a significant upturn on the North American market in 20 14, confirming our expectations following the positive signs seen in 2013. Latin America and Asia are markets where customers are buying new boats for the first time, benefiting from structural growth, although their rate of development looks set to slow down as a result of the general economic environment in 2014.
As in the past, the Group’s ambition is to achieve stronger growth than the market thanks to its extended ranges and the new models released, which make up a round 30% of its boat revenues.
In the Leisure Home sector, as forecast, tourism professionals in France have taken their investment decisions later on in the season. Nevertheless, since mid-October, part of this delay has been made up for thanks to the higher level of orders booked compared with the previous year. In this way, the French market could contract by around -15% in 2014, with a significantly less marked decline than in 2013.
In the Residential Housing business, with €4.1 million in revenues for the first quarter of FY 2013-14, the new enhanced and competitive range is being gradually released during the year.
Since the end of FY 2012-13, the company’s financial position has not changed significantly, other than in connection with the seasonality of its activities, and it continues to be characterized by a sound financial structure.
Next date: - Financial information meeting: January 30th, 2014
Beneteau SA is a France-based holding company of the group engaged in the construction and sale of recreational boats and mobile leisure homes. The Group is organized into two divisions, including Boats, specialized in the design, production and marketing of recreational boats and luxury yachts, and Housing, engaged in the design, manufacture and marketing of mobile leisure homes. The leisure boats and ships are sold under such brand names as Beneteau, Jeanneau, Lagoon and Prestige, among others, and the mobile homes under O'Hara and IRM brand names. Tthe Company operatres worldwide through such subsidiaries as Beneteau Inc, Jeanneau America Inc, CNB (Construction Navale Bordeaux), Monte Carlo Yachts spa, GBI srl, Fonderie Vrignaud sa, among others.
By press release.
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