Earnings Release • Apr 24, 2013
Earnings Release
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| €'000,000 | First-half | Reminder: full-year |
||
|---|---|---|---|---|
| 2011-12 | 2012-13 | Change | forecasts 2012-13 |
|
| Sales | 289,0 | 294,7 | + 2% | 810 |
| Operating income | -44,1 | -39,9 | + 10% | -7,5 |
| Net income (Group share) | -27,1 | -24,5 | + 10% |
During the first half of FY 2012-13, the Group recorded -€39.9 million in consolidated operating income, compared with -€44.1 million for the same period in 2011-12, in a difficult economic environment in Europe and France in particular. The Group is able to confirm the forecasts announced in January 2013 for the full year, with the first-half's performances not particularly significant as they are traditionally affected by the strong seasonality of activities.
• In the Boat business, operating income came to -€44.1 million for the first half of 2012-13, compared with -€48.4 million for the first half of 2011-12, impacted by the weak economic trends for the French market and European region, affecting volumes and sustaining pressure over prices. Outside of Europe, the Group's commercial performances on the North American, South American and Asian markets, with growth of around +30% for the half-year period, are satisfactory and these buoyant regions will contribute towards the Group's profitability as of next year.
During the first half of this year, in line with its global ambitions for yachts and motorboats, the Group continued moving forward with its growth strategy built around developing the product range and further strengthening industrial competitiveness, combined with its international commercial deployment.
* The procedures for a limited review of the half-year accounts have been completed. The report on the limited review will be issued once the half-year activity report has been verified.
• The Housing business generated €4.2 million in operating income for the first half of 2012- 13, virtually stable in relation to the same period in 2011-12 (€4.3 million).
On the Leisure Home business, despite the strong development of sales internationally, the second half of the year, as announced, will be affected by the lower level of investments by campsite professionals in France. Indeed, following a difficult season in 2012, and faced with a deterioration in the French economic context, a certain number of professionals have scaled down their investment plans for this season.
The Residential Housing business (high energy performance wooden-frame homes) reduced its losses by half during the first half of this year compared with the first six months of 2011- 12, with a plan for progress in line with the ambitions for 2015.
Following the first half of this year, the Group is still confident in the strategies mapped out for markets outside of Europe and is maintaining its global forecasts for FY 2012-13.
The half-year financial report will be available online at www.beneteau-group.com from April 30th, 2013.
As the world's number one yacht builder - both mono and multi-hull - the Bénéteau 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 woodenframe 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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