Groupe Beneteau Updates Revenue Forecasts, More

The builder saw gains in its boat and luxury-home sectors and made several acquisitions, including a majority stake in Dream Yacht Group.
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Groupe Beneteau is raising its full-year revenue and income for 2021, thanks to sales growth in its boat and leisure home markets.

The company is forecasting 2021 revenue growth of more than 7 percent on a reported basis (more than 6 percent for its boat division and 15 percent for the housing division), compared with its previous 2 percent forecast.

The performance increases include the negative impacts of a cyberattack at the beginning of the year. However, Groupe Beneteau is also benefiting from the overhead reduction and restructuring measures it decided on in 2020, part of its “Let’s Go Beyond!” strategic plan.

The global order book at the end of June came to EUR1.8 billion ($2.1 billion), up 55 percent based on reported data, compared with the end of June 2020.

The group’s revenues at the end of June (EUR658.8, or $782.5 million) are up 3.4 percent based on reported data and up 5.1 percent at constant exchange rates.

Excluding fleets, the boat division’s revenues are up 14.3 percent based on reported data.

Groupe Beneteau also recently joined forces with PPF of Central Europe to acquire an 87 percent interest in Dream Yacht Group and a 50 percent stake in Navigare Yachting.

With a fleet of more than 1,200 boats, these two companies combined are now among the world leaders in the sector. The alliance also allows the formation of a platform combining the digital and distribution activities of Dream Yacht and Groupe Beneteau’s digital arm (BandOfBoats, Digital Nautic). Groupe Beneteau will hold around 41 percent of this joint venture.

Groupe Beneteau also acquired a 40 percent interest in Your Boat Club, a North American company that enables its fee-paying members to charter boats. Your Boat Club owns and manages 24 clubs, including seven marinas.

These investments represent a combined total of around EUR40 million ($47.5 million U.S.) for Groupe Beneteau.

“Following a difficult year, we really feel that the sky is clearing and that the combination of favorable market conditions and the in-house measures rolled out will deliver impacts more quickly than we expected even a year ago. With our diversification investments, we are delighted and proud of this development for Groupe Beneteau, which is announcing a change of scale. These new prospects are fascinating and further strengthen our position as a global boat market leader,” Jérôme de Metz, Groupe Beneteau Chairman and CEO, said in a statement.

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