Solid growth in sales
The Bénéteau Group has presented its annual results for the 2016-2017 fiscal year. The overall increase in sales was 11.5%, reaching ?1.208 billion. The sales of the boat division alone exceeded one billion euros. 1.026 billion, an increase of 12.2%. This is the third consecutive year of solid growth for the Marine Division.
Significantly improved economic performance
The group's operating income before non-recurring items (OIR) was 85.6 million euros, up 96.1%, while consolidated net income more than doubled. 60.1 million, an increase of 138.9%.
Operating profit for the Boat Division also rose sharply, to 78.9 million euros, up 71.3%. The Group sees this significant improvement in operating profitability as the first effects of the Transform to Perform plan, which focuses on product strategy and the adaptation of production resources.
More sailboats
Monohull and multihull yachts are enjoying good momentum. The sailing segment accounted for 44% of the Bénéteau Group's sales in 2016-2017, compared with 41% in the previous fiscal year.
Boom in boat activity in South America
While the situation in Brazil remains complex, as the group had acknowledged with the closure of its activity in Angra dos Reis at the end of 2016, the rest of the South American market is booming. Sales there are up 217.8%, reaching 19.7 Meuros. The two main markets, Europe and North America, show balanced growth, around 8%. The lower number of large units sold in Asia resulted in a 5.3% drop in sales there, while the rest of the world grew by 49.5%.
Good trend in 2017-2018
The group will continue to make the investments set out in the Transform to Perform plan in 2017-2018, through the following actions:
- Deployment of safety, quality, industrial efficiency plans, common platforms
- Sustained product investments to guarantee a strengthened and innovative offer
- Sustained investments in industrial capacity (multihulls, outboards, American boats)
- International business development, particularly in North America (American brands) and in the large yacht segment (multihull and motor)
- Industrial transformation (factory of the future)
- Development of the digital service offer
While the European autumn boat shows were positive, the Bénéteau Group is counting on a similar trend in the United States, which should ensure continued growth. Strong demand from rental companies to replace fleets of boats destroyed by hurricanes has led to an anticipated increase in the order book.
