Q1 2021 revenue affected by cyberattack
The Bénéteau Group has released its results for the first quarter of 2021. Sales for the period were strongly affected by the cyberattack to which the boat builder fell victim on February 19, 2021. At the end of March 2021, sales amounted to 286.5 million euros, down 24.3% on a reported basis and 22.9% at constant exchange rates. Nevertheless, the manufacturer indicates that the decline is limited to -4.5% at the end of April 2021, testifying to the restart of production.
Growth prospects for 2021
The trend nevertheless remains positive and better than previously anticipated. The overall order book at the end of March was 1,370 million euros, up 21% on a reported basis. In the marine sector, only the boat rental business is down. Private boaters are driving growth.
As a result, the Bénéteau Group is revising its forecasts for fiscal 2021 upwards. Instead of stagnation, it anticipates sales growth of +2% overall and +1% for the Boat division. The 45 Meuros impact of the cyber attack is cutting into growth, which should have reached +6%. Despite difficulties related to procurement, logistics and the rise in prices of raw materials and equipment due to the global economic tension, the nautical industrialist should post +90% growth in its current operating income (ROC) compared with the proforma figures for 2020 of 27.5 Meuros, higher than the initially expected increase of +60%.
