A profitable start to the nautical season for the Bénéteau Group
The Bénéteau Group has published its sales for the third quarter of 2021. Although sales for the Boat division fell by 12.3% to 250.1 million euros, this was offset by a very strong increase in October 2021, up 85.9% to 81 million euros. Over 10 months, from January 1 to October 31, 2021, total revenues amounted to 1,012 million euros, up 4.4% at constant exchange rates, while revenues for the Boat Division were 864.3 million euros, up 4.2% at constant exchange rates. Excluding the portion relating to the rental fleet, which continued to decline as a result of the tourism crisis, sales to dealer networks rose by 8.3%, driven by the small motorboat segment for dayboating.
As a result, revenue growth is expected to be +6% for the Boat business and +7% overall in 2021, based on a full order book. The company's profitability is also strongly improved following management's industrial and employment choices in 2020. Current operating income is expected to be between 59 Meuros and 65 Meuros, i.e. growth of over 100%.
Optimistic growth outlook for 2022
In light of the order books established during the fall shows and the current momentum, the management of the Bénéteau Group is setting ambitious targets for the 2022 fiscal year. According to the Vendée-based yachting leader's financial communication, the two divisions, Boat and Habitat, are expected to grow by more than 10%.
