Groupe Beneteau reported consolidated revenues of €853m for the first nine months of fiscal year 2016/17, with a strong level of business in both its Boat and Housing Divisions.
The company said results in the third quarter were driven by strong boat sales worth €343.4m for the period ended May 31, 2017 − a 20% gain year-over-year, and totalling nearly €700m for the nine months year-to-date, also an increase of 20% compared to the same period last year.
Based on the current level of its order book and boat units available for sale, Beneteau said it was able to confirm its outlook of 11% growth for 2017 revenues, and is on track to achieve the top end of its forecasts for income from ordinary operations of around €68m.
Beneteau pointed to positive sales trends in the European and American markets as the main source of gains for the boat business, boosted further by a high volume of orders from charter firms, contributing more than 3 points of growth. The French builder noted South America, Asia and the Rest of the World were also making very positive contributions to growth.
Catamarans are another part of the company’s positive story, responsible for strong progress in the sailing segment which generated 46% of sales for the Boat Division through the first nine months of the year.
Notably, Beneteau announced in June that it was extending is partnership with the fractional sailing business SailTime for five years. SailTime − which has enjoyed growth of 161% since 2012 through 28 bases in the United States and six in Australia − offers Beneteau sail and power boats for both its membership and yacht ownership programs.
Beneteau is looking to expand on a model which has seen three of its North American dealers integrate their business with the SailTime franchise, allowing the dealer to offer lessons, day charters and yacht management to prospective buyers.
“The sharing economy is the fastest growing segment in our industry right now and SailTime is helping us grow in that space… and driving additional boat sales for Beneteau,” stated the press release.
The Beneteau Group offers over 200 recreational and fleet models through 11 brands covering the sailing, motorboating, catamaran and yacht segments.