Skip to main content

Groupe Beneteau Expects Revenue Declines

The group reduced investments by 30 percent in response to the Covid-19 pandemic.
The boat group’s outboard powered vessels have been offsetting market declines. Shown here is the Beneteau Antares 9 OB.

The boat group’s outboard powered vessels have been offsetting market declines. Shown here is the Beneteau Antares 9 OB.

Groupe Beneteau announced that its new “Let’s Go Beyond” plan is moving forward, helping the French company offset contraction in its chartering business through growth of segments including outboard powered boats.

However, the impacts of the crisis on the last four months of 2020 remain significant, with business over this period expected to be down 25 percent to 30 percent year-over-year, the company announced.

Measures to adapt production capacity and fixed costs in line with current market volumes are being rolled out and will make it possible to reduce costs by 45 million euros to 65 million euros on a full-year basis (between around $57 million and $76 million).

Revenues overall were down 14.3 percent; boat group revenues were off 15.1 percent; group EBITDA revenues were down 36.9 percent in the boat group, and boat income dropped 76.8 percent.

The group’s boat division adjusted its production capacity in each country in response to the pandemic, with five sites gradually hibernated, closed or sold, and production transferred to other sites; partial activity measures have been rolled out in France and Italy.

The brands have implemented new initiatives in light of most major boat shows being cancelled, including organizing events, private trials and exclusive days in France (Cannes-Mandelieu, La Rochelle, Les Sables d’Olonne) and internationally (Monaco, Spain, Italy, UK, Germany, and the United States).

The company is also preparing for the opening of virtual shows Dec. 10-12 and creating new digital formats that are more immersive and interactive.



Mass. Opens Office of Outdoor Recreation

The new office will coordinate outdoor recreation policy, identify funding opportunities and more.


OneWater Marine Completes Acquisition

Harbor View Marine has a marina facility in Pensacola, Fla., and a dealership in Orange Beach, Ala.


Florida Panhandle Marina Reopens

Destroyed by Hurricane Michael in 2018, Point South Marina in Port St. Joe has new drystack storage and is adding slips.


Wakesports Luminaries Recognized

The 2022 class of Wakesports Hall of Fame inductees includes influential pioneers from the sport’s earliest years.


Sea Tow Holds Annual Meeting

The company presented awards in a variety of categories, including the Captain Joe Frohnhoefer Visionary Award, named for Sea Tow’s founder.


Four Winns Launches Electric Boat

The builder partnered with Vision Marine Technologies on the H2e, a production bowrider powered by an electric outboard.