Sustained level of growth confirmed
For the first nine months of FY 2016-17, consolidated revenues climbed to €853.2 million, up 18.6% year-on-year and 17.9% at constant exchange rates.
The revenue growth achieved reflects the strong level of business for both the Boat and the Housing Divisions.
In line with the Boat business' order book to date, the outlook for full-year revenue growth in 2016-17 can be confirmed, targeting +11%.
Third-quarter revenues came to €422.9 million, up 13.9% compared with the same quarter the previous year. Business over the quarter was driven by 20.5% growth for the Boat business. The contraction for the Housing business in the third quarter reflects a base effect, after large numbers of deliveries were deferred to the third quarter during the 2015-16 season due to production delays.
For the first nine months of the year, Boat Division revenues totaled €695.2 million, up +20.6% compared with the first nine months of the previous year and +19.8% at constant exchange rates.
The Boat Division's growth is being supported by the positive trends for this business on European and North American markets. It is also benefiting from a high volume of orders from professional charter firms, generating more than 3 growth points. The South America, Asia and Rest of the World markets are also making very positive contributions to growth.
The sailing segment, which generated 45.7% of sales for the first nine months of the year, is benefiting from the strong progress made by catamarans.
Over the first nine months of the year, the Housing Division recorded €158.0 million of revenues, up +10.3% compared with the first nine months of the previous year. The Housing Division's growth has been generated by the Leisure Homes business, since revenues from the Residential Housing business are no longer significant.
Following the robust level of sales in spring, the outlook for full-year revenue growth has been revised upwards.
For the Boat Division, thanks to the level of the order book and the breakdown of units available for sale, the Group is able to confirm the outlook for full-year revenues in 2016-17, with year-on-year growth of +11%. This increase is linked primarily to the Group's good performance on the American and European markets, on fleets and, to a lesser extent, on other markets.
For the Housing Division, following the good level of orders in spring with key account customers, the outlook for revenue growth has been raised to around +5% year-on-year, compared with +2-3% previously.
In this context, Groupe Bénéteau is raising its forecasts for overall revenue growth to +11% and is on track to achieve the top end of its forecasts for income from ordinary operations with around €68 million.
The next announcement is scheduled for Tuesday October 31, 2017, when full-year revenues and earnings will be reported for 2016-17.