Bénéteau

Earnings Release • Jul 11, 2019

2018-19 NINE-MONTH REVENUES JULY11, 2019

CONTENTS

0-1

Group overview 0-2 0-3

Business reviewFirst 9 months of 2018-19

Outlook

0-1GROUP OVERVIEW

Jérôme de MetzChairman and CEO

Christophe CaudrelierDeputy CEO

01 - GROUP OVERVIEW

GROUP REVENUES

First 9 months of FY 2018-19

	9 h t m o n s	9 h t m o n s	h C a n	g e
i i l l € m o n	2 0 1 8- 1 9	2 0 1 7- 1 8	( d d ) t t r e p o r e a a	( t t c o n s a n h ) t e x c a n g e r a e s
Bo t a s	7 5 8. 1	7 2 2. 9	4. 9 % +	3. 5 % +
in Ho u s g	1 7 1. 8	1 6 2. 9	5. 5 % +	5. 5 % +
ho Le isu re m e s -	1 7 1. 8	1 6 2. 4	5. 8 % +	5. 8 % +
i d ia l ho in Re t s en u s g -	0	0. 5	ns	ns
C l i d d t on so a e re ve nu e s	9 2 9. 9	8 8 5. 8	5 % +	3. 8 % +

►Robust level of business for the Boat and Housing Divisions…

GROUP REVENUES

Third quarter of FY 2018-19

Q	3	Q 3	h C a n g e
i i l l € m o n	2 0 1 8- 1 9	2 0 1 7- 1 8	( d d ) t t r e p o r e a a	( t t c o n s a n h ) t e c a n g e r a e s x
Bo t a s	3 5 4. 3	3 4 4. 9	2. 7 % +	1. 1 % +
Ho in u s g	7 9. 7	7 6. 0	4. 9 % +	4. 9 % +
isu ho Le re m e s -	7 9. 7	7 6. 0	4. 9 % +	4. 9 % +
d l ho Re i ia in t s en u s g -	0	0. 0	-	-
l d d C i t on so a e re ve nu e s	4 3 4. 0	4 2 0. 9	3. 1 % +	1. 8 % +

►Third-quarter growth for both of the Group's divisions.

BUSINESS REVIEWFirst 9 months of 2018-19

0-2

9-MONTH REVENUES I July 11, 2019

02 – BUSINESS REVIEW – BOAT DIVISION

GOOD PERFORMANCE DRIVEN BY EUROPE, NORTH AMERICA AND FLEETS

Revenues up +4.9% on a reported basisand +3.5% at constant exchange rates

►Regions

Positive trends for European and North American marketsStrong volume of fleet businessSince the start of the year, sales down with the Asia, Pacific, South America and Rest of World markets contracting (8% of Boat revenues)

►Product segments

Good progress for multihulls and monohulls in the sailing segmentRobust sales for outboard motorboatsSales stable for 30 to 60-foot inboard motorboatsSales down for large motorboats over 60 feet, primarily on the Asia, Pacific, South America and Rest of World markets

►Scope expanded following acquisitions

Seascape and Delphia with revenues of €9.6 million

9-MONTH REVENUES I July 11, 201902 – BUSINESS REVIEW – BOAT DIVISION

BALANCED BREAKDOWN FOR SAILING AND MOTORBOAT BUSINESS LINES

02 – BUSINESS REVIEW – BOAT DIVISION

BREAKDOWN OF REVENUES BY REGION

First 9 months of 2018-19

i i l l €	i F 9 t r s	i F 9 t r s	C h a n g e	C h a n g e
m o n	h t m o n s f 2 0 1 8- 1 9 o	h t m o n s f 2 0 1 7- 1 8 o	( d d ) t t r e p o r e a a	( h ) t t t c o n s a n e x c a n g e r a e s
Eu ro p e	3 9 9. 3	3 8 0. 7	4. 9 % +	4. 9 % +
h d l ic No C A t t r a n en ra m er a	1 9 9. 3	1 7 9. 5	1 1 % +	5. 5 % +
le F t e s	1 0 1. 7	8 4. 4	2 0. 5 % +	2 0. 5 % +
he io * O t r r eg ns	5 7. 8	7 8. 3	2 6. 2 % -	2 6. 6 % -
*S h ica ia, i f ic, f l d Am As Pa Re W t st ou er c o or ,
T O T A L R E V E N U E S	7 5 8. 1	7 2 2. 9	4. 9 % +	3. 5 % +

►Robust business performance for fleets, North America and Europe (+4.9%, with +12.3% for Q3).

► Contraction for other regions (Asia, Pacific, South America and Rest of World), which represent just 8% of Boat revenues, since the start of the year.

9-MONTH REVENUES I July 11, 201902 – BUSINESS REVIEW – HOUSING DIVISION

DYNAMIC THIRD QUARTER, WITH STABLE FULL-YEAR OUTLOOK

+5.8% for the Leisure Homes business over 9 months

►Good execution in the third quarter

For the third quarter, Housing revenues are up +4.9% thanks to an acceleration in orders and deliveries compared with the previous year

►European market with contrasting trends

For the first nine months, sales climbed +25% for the Benelux, Adriatic, Italy and Spain-Portugal markets, but did not make up for the cautious trends observed on the French market and the downturn on the UK market.

0-3OUTLOOK

04 - OUTLOOK FOR 2018-19

FULL-YEAR OUTLOOK CONFIRMED FOR 2018-19

The order book at June 30, 2019 makes it possible to confirm the outlook for full-year revenue growth, with a target of +4% to +6% on a reported basis (+2% to +4% at constant exchange rates), continuing to outpace the markets.

HOUSING BUSINESS

The order book to date makes it possible to confirm the full-year outlook for revenues to be stable year-on-year.

OUTLOOK FOR THE GROUP FOR 2018-19

• Expected global revenue growth of around +3% to +5% (+2% to +4% at constant exchange rates)
• Operating margin rate virtually stable on a reported basis

NEXT DATES

• September 10, 2019 New boat models announced for the 2019-20 season
• October 29, 2019 2018-19 full-year earnings released

APPENDICES

9-MONTH REVENUES I July 11, 2019FINANCIAL GLOSSARY

AT CONSTANT EXCHANGE RATESAverage rate for the previous reporting period.

• EBITDA Earnings before interest, taxes, depreciation and amortization, i.e. operating income restated for allocation / reversal of provisions for liabilities and charges and depreciation charges.
• FREE CASH FLOWCash generated by the company during the reporting period before dividend payments and changes in treasury stock.
• NET CASHCash and cash equivalents after deducting financial debt and borrowings.

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