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Groupe Beneteau Reports Drop in Revenues

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Groupe Beneteau reported revenues of EUR264.6 million ($305.6 million) for its third quarter, down 11 percent compared with the same period a year prior. Boat sales dropped 13 percent to EUR250 million ($288.7 million).

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However, for the 10-month period that ended Oct. 31, the builder is posting better results, reporting revenue from boat sales of EUR864.3 million ($988 million), up 3 percent from 2020. The company said in a statement that strong demand in its dayboat segments is driving the gains.

In addition, Groupe Beneteau reported boat sales of EUR81 million ($93.5 million) in October, an 87 percent gain.

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The group said that it achieved these results despite a significant cyberattack earlier in the year and continued supply-chain disruptions, pointing to its “resilience and the ability of its teams to overcome major adverse events.”

With a high order book, Groupe Beneteau expects sales in its boating division to remain strong through the end of the year and is forecasting revenue growth of 6 percent for the segment.

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