Beneteau releases 2022 fiscal results
Groupe Beneteau has released their 2022 financial results. The company closed out FY 2022 with revenues of 1,508 million euros, up 22.9% based on reported data (+19.4% at constant exchange rates). This performance factors in a favorable base effect for around 50 million euros linked to the 2021 cyberattack.
This strong level of billing in the fourth quarter, combined with the effective management of inflation and the favorable impact of exchange rates over the year, will pave the way for full-year income from operations to significantly exceed the previous estimate of 125 million euros.
During the fourth quarter of 2022, the Boat division recorded 56.3% growth based on reported data (+51% at constant exchange rates), with revenues of 408.5 million euros. In addition to the continued catch-up with billing during the first half of the year (around 80 million euros), the Boat division’s growth benefited from the measures rolled out at the start of 2022 to increase production capacity, particularly for the Multihull Sailing and Dayboating segments.
Full-year revenues for 2022 are therefore up 19.7% based on reported data (+15.6% at constant exchange rates), with consistent performances between the two sailing and motor activities.
The “motorboat” business, which now represents nearly 58% of the Boat division’s revenues, was driven by the development of all the Group’s brands in the Dayboating segments (motorboats up to 40 feet).
The “sailing boat” business was supported by the upturn in sales to charter professionals, with 31.8% growth for the year, as well as the success of the Excess brand, which is now ranked fifth on the market following the launch of the new Excess 14.
The North and Central America region is reporting 27% growth at constant exchange rates and now makes up one third of the Boat division’s revenues. Sales on the European market increased by 9.5% over the year, with the second half of the year’s 31% growth making it possible to offset the delays with billing resulting from the supply chain disruption seen during the first six months.
Housing division: robust market trends in France and expansion in Europe
The Housing division is also reporting outstanding revenue growth of 58.8% in the fourth quarter to reach 67.4 million euros. This growth partly benefited from a favorable base effect, due to the deliveries that had been delayed following the Luçon site fire in August 2021.
Housing division revenues for FY 2022 climbed to 257 million euros, up 41% from 2021. This growth was supported by a very dynamic market in France and the division’s continued international growth, particularly in Southern Europe. Over the full year, the Housing division generated more than 25% of its revenues through exports.
Source: https://boatingindustry.com/news/2023/02/15/beneteau-releases-2022-fiscal-results/
