Groupe Beneteau Releases Preliminary 2020 Financials

Revenues were down 15.1 percent for the 16-month period that ended Dec. 31. A full report is due next month.
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Groupe Beneteau reported revenues of EUR1,344.4 million ($1.62 billion) for its 2019-2020 financial year, down 15.1 percent for the 16-month period that ended Dec. 31.

For calendar year 2020, revenues were EUR1,096.5 million ($1.3 billion), down 18.9 percent from 2019.

Groupe Beneteau said successive waves of the pandemic led to longer transport times and closures of nearly all Caribbean resorts, which hurt its fleet sales.

Losses in both Beneteau’s housing and fleet segments were partially offset by demand for powerboats, particularly outboard models. In the last four months of 2020, boat sales in Europe totaled EUR75 million ($90.8 million), an increase of 10.2 percent. North America saw a 6 percent jump to EUR62.8 million ($76 million).

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For fiscal year 2019-20, the powerboat segment grew to represent 52.6 percent of boat revenues, compared with 47.4 percent for sailboats, Groupe Beneteau said in a statement.

Revenues for the last four months of 2020 were EUR195.3 million ($237 million), down 21.2 percent. The company said poor sales in leisure homes and charter operations were chiefly responsible for the decline.

Groupe Beneteau said it will release full results for fiscal year 2019-20 and a 2021 outlook on March 17. 

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