French sail and motor yacht producer the Beneteau Group has reported consolidated revenues of €371.3m for the third quarter of the 2015/16 financial year, a 3.1% drop compared to the same time last year. Sales in the first nine months, however, were up by 3.4% to €719.4m.
In a statement, Beneteau says that the Q3 figures can’t be compared to the previous year, as around €20m worth of invoicing in the Boats division was recorded early. Corrected for the increase, revenue growth in the first nine months of 2015/16 in the Boats division was up by around 3.5% at constant exchange rates.
At the end of May 2016, the level of Boat orders reached €842m – an 11.5% increase at constant exchange rates. The rise is attributed to strength in the European market, particularly France, Germany, Spain and Italy.
“The first nine months of the year highlighted the positive trends for the Boats business, even if revenues at May 31 do not show the level of growth expected,” says Beneteau in the statement. “The acceleration in the level of billing in June 2016 and the increase in the production capacity for catamarans will be reflected in revenues for the fourth quarter and therefore the full year.”
In the meantime, Beneteau says it remains cautious in view of the current uncertain environment, marked by external factors such as Brexit. “These factors are limiting visibility concerning changes in orders for the last three months of the year,” reads the statement.
Cost control measures and the first results of the group’s transformation actions has led Beneteau to keep its forecasts for income from ordinary operations and very strong net income growth for 2015/16.
Beneteau is the world’s top producer of mono and multi-hull sailing yachts, and continues to make progress in the motorboats sector. The company has more than 200 models from 15ft-105ft under the Beneteau, Jeanneau, Lagoon, Prestige, Monte Carlo Yachts, CNB, Four Winns, Glastron, Wellcraft and Scarab boat brands.