Bénéteau posts strong first-half results
By IBI Magazine
Groupe Bénéteau has posted a 23.9 per cent increase in like-for-like operating income for the six months ended February 29, 2008, totalling €40.4 million.
Like-for-like sales grew by 9.8 per cent to €447.6 million, and consolidated net income grew by 38.4 per cent to €29.7 million compared to the same period last year.
Strong growth was driven by the group's two core businesses — boats and mobile homes. In the boat division, operating income in the first half grew by 30 per cent to €28.4 million, while profitability improved by 1.3 points, representing 8.8 per cent of sales.
"This performance is in line with the annual target for a 15 per cent operating margin on the boat business, confirming the benefits of the cost optimisation plan that is currently being rolled out," says the company.
In the mobile homes division, operating income came to €10.5 million, representing 11.2 per cent of sales, while operating income in the Microcar division totalled €1.6 million, or 5.1 per cent of sales.
In March, Bénéteau entered into exclusive negotiations with Philippe Ligier, majority shareholder in Automobiles Ligier, and its financial partner, 21 Centrale Partners, to sell the Microcar division. The project is in line with Bénéteau's strategy to develop its two core businesses.
In light of Bénéteau's strong first-half figures and healthy order book, the company says that it is standing by its full-year forecast of €1,087.5 million in sales and €150.6 million in operating income for 2008.
(28 April 2008)
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