The Beneteau Group reported solid fourth-quarter growth with strong increases in yacht sales.
Boat sales rebounded in Europe and continued to grow in North America and the boat business increased 10.8 percent in fiscal 2014-15 from the previous year.
Beneteau continued deployment on the boat engine market and extended its offering toward larger boats both in power and sail. It also said it strengthened its commercial presence in areas that offered the greatest growth potential.
“This enabled our brands to experience a record increase in turnover, particularly in Europe,” the group said in its earnings statement.
For the full year, the boat business amounted to 703.4 million euros, or about $789.57 million. The powerboat business grew 15.5 percent and saw a 37.5 percent increase in motoryacht sales.
In Europe, a rebound in England, Spain and Italy enabled Beneteau to record 10 percent sales growth for the fiscal year. In North America, sales were up 11.7 percent from the previous year.
The total turnover of the boat business was 819.8 million euros, or $920.23 million, an increase of 26 percent, including the recent acquisition of Rec Boat Holdings. The latter recorded a turnover limited to $110 million in view of the bad economic situation that affects the Canadian market.