Earnings Release • Jul 10, 2014
Earnings Release
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During the third quarter of 2013-14, the Bénéteau Group generated €308.4 million in revenues, up +1.7%. At constant exchange rates, business is up +2.9% like-for-like.
| €'000,000 | Q3 2013-14 |
Q3 2012-13 |
Change Reported basis |
Change Like-for-like and at cons tant |
|---|---|---|---|---|
| Boats | 237,5 | 237,2 | + 0,1% | exchange rates + 1,0% |
| Housing | 70,9 | 65,9 | + 7,6% | + 9,7% |
| Consolidated revenues | 308,4 | 303,1 | + 1,7% | + 2,9% |
For the first nine months of FY 2013-14, the Bénéteau Group's consolidated revenues came to €591.1 million (-1.1%). At constant exchange rates, and on a comparable basis (sale of Vacances Krusoe), business is stable at €595.6 million.
| €'000,000 | 9 months 2013-14 |
9 months 2012-13 |
Change Reported basis |
Change Like-for-like and at cons tant |
|---|---|---|---|---|
| Boats | 450,1 | 440,1 | + 2,3% | exchange rates + 3,3% |
| Housing | 141,0 | 157.7 * | -10,6% | -9,5% |
| Consolidated revenues | 591,1 | 597,8 | -1,1% | 0,0% |
* Of which, €2 million for the Vacances Krusoe business sold with effect from September 1st, 2013
The Boat branch generated €450.1 million in revenues over the first nine months of the year. At constant exchange rates, business is up 3.3% to €454.6 million at end-May 2014.
This growth reflects the Group's continued dynamic development in the North America region, with business up 39% at end-May 2014. The general economic downturn affecting the South American and Asian markets continued during the third quarter, while the Group benefited from a slight increase in its business in Europe.
For the first nine months of FY 2013-14, Housing division revenues came to €141 million (-10.6%), including €13.7 million for the residential housing branch. Like-for-like (excluding Vacances Krusoe), the contraction in business is limited to only 9.5%.
Following a first half of the year marked by orders from tourism professionals being deferred, the expected catch-up effect in terms of invoicing for the Mobile Home business led to a 7.6% increase in revenues for the Housing division during the third quarter.
The company's balance sheet position did not change significantly during the third quarter of 2014, with the exception of the usual seasonal trends for activities.
After the quarter-end, the Bénéteau Group acquired RecBoats in the US on June 23rd, 2014. This company is specialized in designing, building and selling motorboats under four brands: Four Winns, Glastron, Wellcraft and Scarab. This latest major strategic step forward will enable the Group to accelerate its development on the market for motorboats under 12 meters in North America.
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 production of wooden-frame houses, it aims to make quality homes that are affordable and in line 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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