Covid-19 epidemic: update on March 30, 2020
As a result of the Covid-19 epidemic, Groupe Beneteau temporarily shut down its production activities in France and Italy on March 18, before extending these measures to include the United States and Slovenia last week. This measure will also be applied for Poland within the next few days.
The Group is already working on a plan for operations to gradually resume and this will be rolled out as soon as the health conditions allow it to do so. Only certain maintenance, finishing and shipping activities will be continuing at the Group’s plants, while its activities focused on releasing new models are being maintained with staff working remotely.
However, the temporary suspension of its production and shipping activities for several weeks will have an impact on its revenues and therefore its earnings, which means that the outlook announced on February 4, 2020 is no longer applicable.
Groupe Beneteau benefits from a robust financial position. At August 31, 2019, its financial year-end, the Group had 97 million euros of net cash and its credit lines are confirmed through to 2023.
Management & experts linked
Bruno Thivoyon
Chief Executive Officer
Bruno Thivoyon is Chief Executive Officer of Groupe Beneteau.
Previously he was Deputy CEO in charge of Finance, Legal and IT Systems from January 1 to June 17, 2022...
About Groupe Beneteau
Founded in Vendée 139 years ago by Benjamin Bénéteau, Groupe Beneteau today has international industrial capabilities, with 22 production sites, and a global sales network. In 2022, Groupe Beneteau recorded €1.5bn of revenues, employing around 8,000 people, primarily in France, the United States, Poland, Italy and Portugal.
A global market leader, Groupe Beneteau, thanks to its Boat division’s nine brands, offers more than 150 recreational boat models serving its customers’ diverse navigational needs and uses, from sailing to motorboating, monohulls and catamarans.
Through its Boating Solutions division, the Group is also present in the daily or weekly rental services, marina, digital and financing sectors.
Its Housing division is a major European player for leisure homes, lodges and pods, with its 3 brands (IRM, O'HARA, COCO SWEET) offering a wide range of products. It has 900 employees across six production sites in France and one in Italy, and generated €257.2m of revenues in 2022.
Boat brands: BENETEAU, JEANNEAU, LAGOON, PRESTIGE, DELPHIA, EXCESS, FOUR WINNS, WELLCRAFT, SCARAB and GLASTRON.
