Earnings Release • Sep 23, 2010
Earnings Release
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With growth coming in higher than forecast for 2010, the BENETEAU Group is further strengthening its positions on its markets
| €'000,000 | Q4 2010 | Q4 2009 | Change (%) |
At Aug 31, 2010 |
At Aug 31, 2009 |
Change (%) |
|---|---|---|---|---|---|---|
| Boats | 166.7 | 122.5 | + 36.1% | 573.7 | 494.3 | + 16.1% |
| Housing | 43.2 | 26.0 | + 66.2% | 205.7 | 164.9 | +24.7% |
| Consolidated sales | 209.9 | 148.5 | + 41.4% | 779.4 | 659.2 | +18.2% |
The Bénéteau Group recorded €779.4 million in sales over FY 2009-10, ended August 31st, 2010, up 18.2%.
This performance, coming in higher than initially forecast, is enabling the Group to grow more quickly than its markets and further strengthen its positions in its two business segments.
In the Boat business, the Group's strategy has paid off, with 16.1% growth, which is particularly significant since it has been achieved in a global pleasure cruising market that is stable on the whole. To a great extent, this success reflects the innovation drive, the number and quality of new models, and the dynamic development of its brands and networks.
The sourcing delays experienced with certain suppliers in spring 2010 had raised fears that orders might be cancelled. In the end, their repercussions have been less marked than forecast, as shown by the significant growth in sales over the fourth quarter. This positive trend illustrates the strong ties between customers and the Group's brands.
In the Housing business, the Group saw its sales climb 24.7%, quicker than expected, primarily thanks to the performance achieved by the leisure homes division.
This division's main market - outdoor accommodation - is attracting a growing number of holidaymakers, with their numbers rising over 2009-2010. The Group's products and brands are particularly appreciated by professionals in this industry, who are investing and modernizing in order to win over new customers.
The residential housing division (high-environmental performance and wooden-frame homes) is developing at a sustained rate. At the end of September 2010, it will be delivering its first student residence in Angers, followed by many other programs throughout the season.
As usual, at the end of October, following the main autumn shows, the Bénéteau Group will be presenting the first information on the trends for the 2010-2011 boat season.
The Group's brands - Bénéteau, Jeanneau, Prestige, Lagoon, CNB and Monte Carlo Yachts are expanding their ranges and once again offering a large number of new models this year, including:
Bénéteau and Jeanneau are also unveiling a world premiere with a major and exclusive technological innovation, thanks to a joystick-based assistance system for in-port maneuvering for the large yachts in their ranges.
All of these strengths are underpinning the Group's ambition for its growth to outpace the markets once again in 2011.
This season, the Group's leisure home brands - O'Hara and IRM - are expected to benefit from the growing success of the new forms of accommodation and the many activities offered by outdoor accommodation professionals.
For its part, the residential housing business has visibility over its activity for the coming season, in line with the ramp-up forecast.
As the world's number-one sailboat builder, the Bénéteau Group has continued to develop its business on the powerboat market, and is now one of the leading players in Europe.
On both sail and powerboats, the Bénéteau, 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 powerboats over 15 meters with Prestige Yachts and Monte Carlo Yachts.
The Group is also a leading player on the European leisure home market and is developing its business on the market for high environmental performance residential homes. With the design and manufacturing of wooden-frame houses, it aims to make quality homes that are accessible in terms of their pricing and compliant with sustainable development standards.
Bénéteau Group press information: Bérengère Corbel [email protected] Tel: +33 6 72 56 25 69 +33 2 51 26 21 28 Fax: +33 2 51 26 88 55 Shareholder contact: Yannick Coicaud-Thomas [email protected]
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