Groupe Beneteau reports 6.5 percent sales gains for FY 2017-2018

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Groupe Beneteau had sales of $1.47 billion for its fiscal year that ended Sept. 30, up 6.5 percent compared to the same period a year ago. The company reported net income of $69.7 million, up 2.5 percent for the year, beating initial forecast for sales and profits.

The boat division reported sales of $1.24 million for the year, up 6.7 percent. A statement said this was the fourth consecutive year of “strong growth, supported by a stronger and diversified range” of products. It said a “dynamic level of sales” for its multihull sailing and outboard/inboard powerboat segments drove the growth.

The group’s European sales rose 12.7 percent at constant exchange rates, with sales in North America up 4.4 percent for the year. It said that sales of small powerboats in North America were up, while there was a “contraction for large motoryachts.” Sales in the Asia-Pacific region were up 27.3 percent.

Groupe Beneteau generated $138.1 million in operating cash flow. It invested $92.6 million last year, so it has a cash position of $184.5 million. “The group’s positive cash position is enabling it to continue investing in product development and industrial facilities and capitalize on opportunities for growth,” the statement said.

For fiscal 2018-2019, the group said it would continue to invest in new-product development so that 44 percent of its product range has been renewed over three years. It also is developing boat clubs in Europe, a leasing program in Europe and a Band of Boats platform.

“The group is on track to achieve its target to double multihull production capacity, with 50 percent already completed at the halfway point [2016-2020). Lastly, the group is continuing to organize production transfers between euro and dollar regions in order to limit currency effects,” the statement said.

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