Groupe Bénéteau sees net income rise by over 30 per cent
By IBI Magazine
Groupe Bénéteau is predicting a six per cent increase in sailboat sales and 10 per cent increase in powerboat sales in 2008 following busy Autumn boatshows and the release of strong financial results for 2006-2007.
In September sales were up 22.7 per cent (€1,013.7 million) for the group, whilst operating income for the year came to €135.3 million, up 30.1 per cent and representing 13.3 per cent of sales, compared with 12.6 per cent last year.
On boat sales (Bénéteau, Jeaneau, CNB, Lagoon and Wauquiez), operating income is up 18.4 per cent to €117.9 million, representing 14.8 per cent of sales, compared to 13.7 per cent last year. In light of this result, the 15 per cent profitiability target initially set for 2010 is expected to be reached by 2008.
The high level of operating cashflow (€132.9 million) has made it possible for the group to comfortably finance all of its investments, including the acquisition of IRM. Net cash is up €45.2 million to €224.4 million at August 31, 2007 (excluding treasury stock).
Follwoing these results the management board has decided to put forward a proposal at the general meeting on February 1, 2008 to raise the dividend to €0.39 per share, which would represent an increase of 31.8 per cent on the previous year.
(8 November 2007)
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