Against an unfavorable macroeconomic backdrop, marked by falling demand and massive network destocking, Groupe Beneteau continues to adapt. The Vendée-based manufacturer, which includes brands such as Beneteau, Jeanneau, Prestige and Lagoon, is planning a strategic redeployment around 66 new models for the 2025-2027 period.
Maintaining profitability in a declining market
Faced with a 29.4% drop in sales for the Boat Division in 2024, the Beneteau Group has managed to maintain a Current Operating Income of 75.9 million euros, or 7.3% of sales. This performance is the result of early industrial rationalization, a reduction in overheads and the use of part-time working schemes. By limiting the damage, the Group has preserved its ability to bounce back, while absorbing the shock of the disruption caused by the deployment of its ERP system in Bordeaux.
Industrial acceleration and product strategy 2025-2027
With 66 new models announced, including 28 in the premium segments and 38 to renew the entry-level range, Beneteau is betting on a relaunch through the offer. This strategy includes flagship models such as the Lagoon 38, the Beneteau First 30 and the Fourwinns Freedom series. The Monfalcone (Italy) and Gandra (Portugal) sites will see their activity increase, while respecting an investment envelope of between 75 and 85 million euros per year.
Refocusing on boating and reallocation of resources
The sale of the Habitat business to Trigano, finalized in November 2024, enabled the Group to refocus its investments on its core businesses. The transaction generated a capital gain of 38 million euros and a cash inflow of 230 million euros. This resource strengthens the Group's net financial position (to 357 million euros at the end of 2024) and contributes to its organic growth projects and the modernization of its production facilities.
Segmenting to better respond to the decline in the new-build market
At a time when new-boat markets are facing a growing preference for pre-owned boats, the Group is focusing on perceived value and product differentiation. The move upmarket undertaken since 2022 is bearing fruit, thanks in particular to the Prestige M-Line and units over 9 meters. The aim is twofold: to attract a high-end clientele, and to make new-build boats more attractive with compact, accessible and better-equipped models.
International markets: between uncertainties and growth drivers
The situation remains contrasted by geographical region. In Europe, the end of subsidies in Greece has severely penalized the charter sailing catamaran segment. In the United States, customs uncertainties and currency fluctuations are weakening the Group's American brands. A turnaround is expected in 2026, with a return to balance for local brands. The outlook is based on a stabilization of the world market from 2025 onwards.
Groupe Beneteau seems to have anticipated the structural changes in the yachting market. With a strategy focused on segmentation, industrial investment and product development, it intends to leverage its financial strength to establish itself as a resilient player. It remains to be seen whether the appetite of new boaters will be confirmed between now and 2026, in response to this renewed offer.
