2023-11-09 10:03:03
Bénéteau is bottom of the SBF120 this Thursday following the presentation of its nine-month turnover: the manufacturer of pleasure boats lost 5.55% to 11.24 euros. Invest Securities notes the group’s “caution” for 2024: Bénéteau anticipates a drop in the level of dealer stocks and a slowdown in demand for smaller units.
At the end of September 2023, its sales amounted to 1.34 billion euros, an increase of 30.2% compared to 2022. Bénéteau specifies that its Boat division increased by 31.2% over 9 months, the Sailing activity by 42% (+15% in the 3rd quarter), and the Engine activity by 24%. The group confirmed its latest turnover forecast for the Boat division, growing 16% year-on-year with an operating margin of 12%.
Excluding the planned sale of the Housing division, the group’s consolidated turnover for the 2023 financial year would be greater than €1.75 billion (+16% year-on-year in published data), and current operating income would be greater than €210 million. euros, up more than 35% over one year.
Management attributes these good figures to its foresight. “Our value growth strategy, driven by a move upmarket in all of our market segments, allows us to report growth of more than 30% at the end of September,” declared Bruno Thivoyon, CEO of the Bénéteau Group.
“If inflation and rising interest rates are currently causing some customers to wait and see, particularly on smaller units, navigation projects are still very numerous, and the new products presented at the 2023 shows have sparked very great interest. It is this strategy in line with the roadmap presented at the end of 2022 which allows us to maintain our 2025 course, despite a drop in dealer stocks expected in 2024″, he concludes.
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