Strong overall growth for the Bénéteau Group
France's leading yacht manufacturer has published its annual and fourth quarter 2022 revenues. The latter, at 476 million euros, 56.6% higher than the same quarter in 2021, reflects the significant catching up of billings and deliveries, thanks to improved supply chains and massive deliveries to preparers at the end of the year, as seen in some of the slightly congested coastal ports...
In the fourth quarter, the Bénéteau Group posted sales of ?1.508 billion, up 22.9% on a reported basis.
According to the manufacturer, current operating income should be significantly higher than the previous estimate of 125 million euros, due to good management of inflation and favorable exchange rates.
High value-added boats drive business
The Boat Division achieved revenues of 408.5 million euros in the fourth quarter and 1.251 billion euros for the year as a whole, for which growth reached 19.7% in published figures. The share of sailing activities declined slightly, by 1%, to 42%.
The Group reports that the powerboat business was strongly driven by dayboating, i.e. units under 40 feet. The US market was particularly strong, both for the Jeanneau and Bénéteau brands, and for the American brands Wellcraft, Scarab and Four Winns, which grew by +26% at constant exchange rates. North America now accounts for one-third of the Boat Division's sales, behind Europe, which accounts for half.
Sales to rental companies boosted activity. In fact, sales to rental companies, in full catch-up after the Covid, grew by 31.8%.
Overall growth was also supported by new production capacities at Lagoon and in dayboating.
2023 still favorable
The Vendée-based manufacturer is still looking forward to 2023. It expects sales to exceed 1.66 billion euros, with growth of 10% compared with 2022. It even hopes to exceed its targets, if the supply crisis is resolved at a faster pace.
