Earnings Release • Jun 25, 2013
Earnings Release
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| €'000,000 | Sep 2012 - May 2013 | Sep 2011 - May 2012 | Change |
|---|---|---|---|
| Boats | 440.1 | 425.2 | 3.5% |
| Housing | 157.7 | 185.2 | -14.8% |
| Consolidated sales | 597.8 | 610.4 | -2.1% |
The Bénéteau Group is today able to count on sound foundations for growth, built around its world leadership for sailboats, the development of a motorboat range adapted for the global market and its European project in the housing sector. In FY 2012-13, this strategy has already enabled it to offset the European boat market's difficulties linked to the general economic climate. For the first nine months of the year, consolidated sales came to €597.8 million, with €303.1 million for the third quarter, buoyed by progress on the Boat business.
The Boat branch recorded €237.2 million in sales for the third quarter of 2012-13 (+0.8%). For the first nine months of the year, sales climbed 3.5% to €440.1 million. This performance is underpinned by the Group's expansion outside of Europe, where sales were up 34% at the end of May 2013 compared with the end of May 2012, representing a total of nearly €146 million.
In North America, the market's positive signs have been confirmed. In this region, the Group's business is being driven by its sailboat range, while benefiting from the investments made during the last few years in the motorboat sector. This positive development is expected to pave the way for this region's business to grow by more than 40% over FY 2012-13 compared with the previous year.
In Asia and South America, two structurally growing regions, the business is also developing in line with the Group's objectives.
For Europe as a whole, the expected contraction of around 15% has been confirmed for the boat market, a sign that the region's downturn is easing.
With the Prestige Yachts and Monte Carlo Yachts brands, the success of the Group's Large Motor Yachts range shows no sign of letting up. During the first nine months of 2012-13, sales doubled to reach €34 million. The new model from Monte Carlo Yachts, the MCY 86, which will be presented at the Cannes Boat and Yacht Show in September this year, illustrates the strengthening of the range with larger yachts.
The Housing business generated €157.7 million in sales for the first nine months of 2012-13 (-14.8%), with €65.9 million for the third quarter (-23.4%). In France, professionals are still seeing strong interest in mobile homes as a holiday accommodation option, making it possible to maintain satisfactory occupancy rates. Nevertheless, customer behavior patterns are changing, with increasingly late bookings, affecting investment decisions by tourism professionals as well as the order book at the end of the year for the leisure homes business. Internationally, the branch has continued to see strong growth, with sales coming in at €21 million at end-May 2013, compared with €9 million for the first nine months of 2011-12.
With €16.6 million in sales for the first nine months of the year (versus €10.1 million for the same period in 2011-12), the residential housing branch is continuing to see a dynamic level of business and further strengthen its offering.
The company's balance sheet position did not change significantly during the third quarter of 2013, except for the usual seasonal trends for activities. The Group's sound financial structure is enabling it to maintain a dynamic rate of product developments.
In view of its commercial performances for the first nine months, the Group is able to confirm its fullyear forecasts as announced in January 2013.
As the world's number one yacht builder - both mono and multi-hull - the Beneteau Group has continued to make progress on the motorboat market, and is now one of the world's leading players.
On both sail and motorboats, the BENETEAU, JEANNEAU, LAGOON and PRESTIGE brands are able to offer more than 100 models ranging from 20 to 60 feet. The Group has one of the most prestigious names for the custom construction of luxury yachts: CNB. It is expanding its range in the segment for motorboats over 15 meters with Prestige Yachts and Monte Carlo Yachts.
The Group is also a leading player on the European leisure home market, with its O'HARA and IRM brands, and is developing its business on the market for high environmental performance residential housing. With the design and manufacturing of wooden-frame houses, it aims to make quality homes that are affordable and compliant with sustainable development standards.
Press information: Image Sept – Claire Doligez [email protected] - Tel: +33 1 53 70 74 25 Shareholder contact: Yannick Coicaud-Thomas [email protected] 16 bd de la Mer - BP 319 85803 Saint Gilles Croix de Vie Cedex - France
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