Outlook for 2019-20
- Consolidated revenue growth of 2% to 4% (reported data)
- Group EBITDA expected to increase by 4% to 6%
- Group income from ordinary operations stable vs 2018-19 based on reported data
- Improvement expected for free cash flow
Groupe Beneteau is presenting its full-year outlook for 2019-20.
Boat Division
The robust trends on the European and fleet markets are making it possible to offset the slowdown, already seen in 2019, on the North American and Rest of the World markets.
The order book at January 31, 2020, deliverable during the year, is up 2.1% on a reported basis compared with the previous year. This increase reflects the growth observed on the sailing segment, mitigating the slowdown on the motorboat segment in North America.
The Boat Division’s full-year revenue growth, with 2% to 4% expected on a reported basis, will be driven by the good level of the European market, the positive development of sales with charter companies and the healthy position of our multihull business (Lagoon and Excess).
Housing Division
The French and export markets for leisure homes have returned to growth and show a slight increase.
Taking into account the current level of the order book, the Housing Division expects its full-year revenues to also increase by 2% to 4% on a reported basis, thanks to higher volumes and a favorable product mix.
Consolidated outlook for FY 2019-20
At Group level, revenue growth is expected to come in at 2% to 4% (based on reported data and at constant exchange rates).
EBITDA* growth is expected to reach 4% to 6% on a reported basis, benefiting from a stronger level of activity, an improvement in production site efficiency and a more effective overhead cost control. The previous year was marked by unfavorable non-recurring items.
The rate of income from ordinary operations is expected to be stable on a reported basis, reflecting the continued increase in depreciation charges relating to the recent launches.
The level of free cash flow is expected to increase compared with the previous year, linked to an improvement in working capital requirements, while maintaining our investments.
* See the financial glossary for the definition of EBITDA
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The next financial announcement is scheduled for April 29, 2020 with the Capital Market Day held in Paris to present the Group’s new strategic plan and medium-term objectives. The Group’s 2019-20 half-year earnings will be released on the same day.
At constant exchange rates: average rate for the previous reporting period.
EBITDA: Earnings before interest, taxes, depreciation and amortization, i.e. operating income restated for allocation / reversal of provisions for liabilities and charges, depreciation charges and IFRS restatements (bonus share plans, retirement benefits). See details in point 3 – Financial Structure of the Board of Directors’ Management Report, 2018-19 Financial Report (page 15).
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.
