Better operational results than before Covid
If he had already unveiled the first figures at the end of February on March 17, 2022, the Bénéteau Group published all the data for its 2021 fiscal year. Beyond the already announced strong increase in sales in 2021, of +11.9% overall and +10.7% for the boat division, the publications reveal the financial aspects of the company and the consequences of the strong reorganization launched by the European leader in yachting since 2019/2020.
181.6 million, or 14.8% of Group revenues, is up strongly. It was even higher for the Boat Division, at 15.6%, up 5.9 points.
The Bénéteau Group's 2021 operating income before non-recurring items (OI) is 95.8 million euros, higher than the November 2021 forecast of more than 30 million euros. It is 13.7 Meuros higher than the last pre-Covid financial year of 2018/2019. Management explains this by 4 factors:
- increased activity (14 million euros for the Boat division, 2 million euros for the Housing division)
- additional compensation from business interruption insurance for the cyber attack that occurred in February 2021 (10 million euros)
- additional reduction of commercial and structural expenses (6 Meuros)
- the favorable evolution of parities during the last quarter (4 Meuros).
630 million, up from 87 million in 2020. The net cash position is 222 million euros, up 129 million euros taking into account the investments in the acquisition of the Portuguese shipyards and in boat rental.
2022 growth outlook in excess of 10
After reassuring the audience about its exposure to the consequences of the war in Ukraine, in terms of both industrial and supply aspects and commercial aspects, with sales there representing less than 1% of the order book, the Bénéteau Group has drawn up an optimistic outlook for 2022.
It expects overall growth of 11% to 14% and 10% to 13% for the Boat Division. This division should benefit in particular from the recovery in sales to boat rental fleets.
