USA keeps Beneteau boats afloat
St. GILLES DE CROIX DE VIE, France _ Beneteau _ Y&C’s yachting sector bellwether _ reported first-half growth of 4.7% thanks to healthy sales in the United States. Beneteau also reported a 23.7% drop in its leisure home business.
Beneteau’s 1st half results (Sept. 2013-Feb. 2014) reflect period in which the world’s largest boat maker saw its North American business grow by 37%, compared to only 1% in Europe. Beneteau was mum on recent growth markets in Asia and Latin America except to say that boat shows there in April “will represent an opportunity to confirm the outlook for the development of these markets.” Worldwide, Beneteau expects its boat business “to grow slightly over the 2014 season.”
Beneteau’s first-half boat sales totaled €212.5 million, up from €202.9 million. For the entire financial year, the French company forecasts boat sales to generate 6% more income. Its housing division took a bath in the past 6 months, a period “marked by the deferral of orders, resulting in later deliveries and later billing.” Beneteau’s first-half housing revenues were €9 million, down from €12 million. In Europe, Beneteau sells the O’Hara and IRM leisure homes
Beneteau group is a public company which is rare in the yacht making business. The fact that it regularly reports its financials make it an industry benchmark.
Beneteau makes popular boats. At the most recent Duesseldorf Boat Show, its Oceanis-38 (photo) was named 2014 European Yacht Of the Year in the Family Cruiser category. Beneteau markets the Beneteau, Jeanneau, Lagoon and Prestige brands of sail and motorboats _ more than 100 models of up to 60 feet. Boat sales account for three-quarters of the group’s revenues of €192.8 million in the past 6 months, down from €198.5 million in the year-earlier period..