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Bénéteau — Earnings Release 2010
Apr 22, 2010
1145_iss_2010-04-22_e0f17dbb-f926-44dc-8994-4cfeeabee74c.pdf
Earnings Release
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Half-year earnings in line with the annual forecast
| €'000,000 | Boats | Leisure Homes | Development business lines |
Total | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| H1 2009 | H1 2010 | ∆ % | H1 2009 | H1 2010 | ∆ % | H1 2009 | H1 2010 | H1 2009 | H1 2010 | ∆ % | |||
| Sales | 173.4 | 175.5 | + 1.2% | 65 | 74.8 | + 15.1% | 0 | 2.5 | 238.4 | 252.8 | + 6% | 771 | |
| Income from ordinary operations |
-34.8 | - 17 | + 51.1% | 4.4 | 5.8 | + 31.8% | -0.5 | -2.7 | -30.9 | -13.9 | + 55% | 37.5 | |
| Net income | -8.1 | + 60.2% | 26 |
2009-10 HALF 10 HALF HALF-YEAR EARNINGS YEAR (at February at February 28th,2010)
Consolidated operating income for the first half of the year (-€13.9 million, compared with - €30.9 million) shows a clear improvement in the Group's profitability for the current year.
- The Boat business, The Boat business, with sales stable for the first six months, has halved its operating loss from €34.8 million to €17 million. This result has been achieved thanks to better use of production capacities, combined with the impact of the reduction in fixed costs decided on last year. It is in line with the development plan, which forecasts, with strong growth over the second half, that the Boat business' profitability will generate €22 million in operating income this year.
- The Leisure Homes business achieved a significant i The Homes business ncrease in its operating income, climbing from €4.4 million to €5.8 million. This performance reflects the growth in firsthalf sales (15.1%) and the impacts of the synergies developed between O'Hara and IRM.
- During their first six months of activity,the development business lines the development (large power yachts and residential housing) recorded a -€2.7 million operating loss, corresponding to the cost of their launch. The €25 million in sales expected over the year will primarily be generated during the second half.
In view of these developments, the Group is able to confirm its positive operating income target of €37.5 million for FY 2009-10.
The half-year report will be available online at www.beneteau-group.com from April 30th, 2010.
About the Bénéteau Group About
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.
www.beneteau-group.com
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] 16 bd de la Mer - BP 319 -85803 Saint Gilles Croix de Vie Cedex - France