Beneteau turns corner, bullish about 2015
ST. GILES CROIX de VIE, France – Beneteau sees healthy growth in 2015 and beyond, buoyed by economic recoveries in North America and Europe and the 2014 purchase of US boat maker Rec Boat Holdings which markets the Four Winns, Glastron, Wellcraft and Scarab motor yachts.
Publicly-trade Beneteau is Yacht-and-Coast’s bellwether for the European boating industry. It makes some 200 models of the Beneteau, Jeanneau, Lagoon, Prestige and other brands of sail and motor boats. The 2008 global financial crisis led Beneteau to expand to North America to keep its own boat afloat.
The world No. 1 boat maker says that its “deployment on the global motorboat market _ and particularly the North American market” has given it 2 solid foundations in Europe and America.
Beneteau Group draws 80% of its revenues from boatings, the rest from recreational homes. In 2015, it sees boat revenues rising by 27% to €824 million, thanks to the purchase of Rec Boat Holdings LLC which is based in Cadillac, Michigan. “In North America, business is expected to grow 15% over the year, driven by the boat market’s continued growth and the Group’s penetration of the motorboat market,” Beneteau reports. It says in Europe, the Spanish, British and Italian markets look most promising.
It says its move into North America confirms a “significant potential” for growth in revenues “based in particular around the deployment of a wider product range, a continued penetration of the North American motorboat market and the gradual upturn on the European market.”