No dividends at Bénéteau in 2021
The key elements of the 2019-2020 revenue of the Bénéteau Group had already been made public in February 2021, with a 15.1% drop compared to the previous year. By revealing the additional financial elements on March 17, 2021, the management presents the financial situation of the French leader in yachting as healthy. The decline in the housing and boat rental fleet activities were partially offset by the dynamism of dayboating, but also by plant closures, staff reductions and lower trade show expenses. The positive net cash position of ?93.4 million and current operating income of ?27.5 million (2.5% of sales) are, in the view of management, evidence of the Bénéteau Group's resilience to the crisis, despite the losses recorded, which are the reason for the absence of dividends paid out to shareholders for the year.
Optimism for the private boating market in 2021
The Bénéteau Group has optimistic forecasts for sales of boats to private individuals in 2021, with growth of around 5%. This should be driven by the under 40-foot powerboat segment and dayboating. The increase for powerboating is estimated at +10%.
In the monohull and multihull sailing segment, overall growth is expected to be +2%.
Relaunch of the charter market not before 2022
The forecasts are gloomier for the rental fleet sector, which was the engine of growth until the start of the Covid-19 crisis and its consequences on tourism. The Bénéteau Group expects sales to be halved in 2021, before picking up again in 2022.
Connected and more ecological boats
The group is presenting 3 development areas to prepare for 2022:
- Reorganization of the Bénéteau, Jeanneau, Prestige, Lagoon, Four Winns, Wellcraft, Delphia and Excess brands
- Deployment of the "connected boat
- Electric drive systems now available in the catalogue
No mention is made of the progress of the CNB, MonteCarlo, Scarab and Glastron brand disposals.
