Groupe Beneteau First-quarter business and outlook for 2022
by Groupe Beneteau 12 May 2022 06:36 PDT
Jeanneau DB/43 © Jeanneau America
2022 first-quarter business (January-March)
Groupe Beneteau recorded strong demand across both of its markets, with 2022 first-quarter revenues of €317m, up 10.6% based on reported data (+8.9% at constant exchange rates).
- Boat and leisure home markets performing well
- Global order book* at end-March up 47% from March 2021
- Forecasts maintained for growth in revenues (+11% to 14%) and income from ordinary operations (€110m to €120m) for 2022
*Invoiced since the start of the year and to be delivered in FY 2022 and beyond
The Boat Division's revenues climbed +7.5%, with stronger growth for motorboats and the dayboating segment in particular. This trend was very strong in North America, where growth reached 19.9% at constant exchange rates, as well as the Rest of the World region (+61%). Alongside this, fleet sales began picking up again (+2.8%).
In the premium dayboating segment, the new JEANNEAU DB/43 received a particularly enthusiastic response during its world premiere on the Côte d'Azur in France at the end of March. On the Real Estate on the Water market, PRESTIGE launched the M48, its first power catamaran from the M-Line range, while the first electric DELPHIA D11 models received a very positive response when they were unveiled on the canals in the Netherlands.
In the monohull sailing segment, BENETEAU unveiled the new First 36, a series-production boat with full-cruising capabilities and competitive pricing. At the International Multihull Show in La GrandeMotte, the LAGOON 51 received a very favorable response for its world premiere.
In the Housing Division, the Sainte-Hermine plant started up on January 3, before ramping up its operations as forecast, making it possible to achieve outstanding growth from the first quarter. Revenues are up 21.4% to €78.5m, benefiting from the robust development of the market in France (+30.3%) and other European countries.
Outlook for 2022
While marked by the quality of the orders received and the commercial success achieved by the products, 2022 has also seen supply chain disruption, which has held back growth. All of the Group's plants and teams are continuing to respond to this situation and adapt.
Groupe Beneteau is therefore maintaining its full-year guidance for revenues and income from ordinary operations in 2022 as announced on March 17 (11% to 14% revenue growth expected based on reported data, income from ordinary operations expected to reach €110m to €120m).
The Combined General Shareholders' Meeting will be held on June 17, 2022.
Groupe Beneteau will report its:
- 2022 first-half revenues on July 28 (after market close)
- 2022 half-year earnings on September 28 (after market close)
Financial glossary
At constant exchange rates: change calculated based on figures for the period from January 1, 2022 to March 31, 2022 converted at the exchange rate for the same period in 2021 (January 1, 2021 - March 31, 2021).