Earnings Release • Mar 25, 2014
Earnings Release
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The Bénéteau Group recorded €282.6 million in consolidated revenues for the first half of 2013-14, down 4.2% on the first half of 2012-13. At constant exchange rates, the like-for-like change in half-year business comes out at -3.1%.
| €'000,000 | Sep 2013 - Feb 2014 | Sep 2012 - Feb 2013 | Change | 2013-14 full-year forecasts |
|---|---|---|---|---|
| Boats | 212,5 | 202,9 | + 4.7% | + 6% |
| Housing | 70,1 | 91.8 (*) | -23,7% | -13,0% |
| Consolidated revenues | 282,6 | 294,8 | -4,2% | - 2.5% |
(*) Of which, €0.7M for the Vacances Krusoe business sold with effect from September 1st, 2013
The change for the second quarter is in line with the full-year forecasts.
| €'000,000 | Dec 2013- Feb 2014 | Dec 2012 - Feb 2013 | Change |
|---|---|---|---|
| Boats | 137,8 | 128,7 | + 7.1% |
| Housing | 55,0 | 69,8 | -21.3% |
| Consolidated revenues | 192,8 | 198,5 | -2.9% |
Boat business revenues climbed 4.7% during the first half of 2013-14 (+6% at constant exchange rates). The North America region confirmed its positive trends during the first six months of the year, enabling the Bénéteau Group to benefit from its market-leading position for sailboats and the gradual deployment of its motorboat ranges. Its business grew by nearly 37% during the first-half period, reflecting this region's strong contribution to the Group's dynamic growth.
In a global market that is expected to grow slightly over the 2014 season, Europe has confirmed its trend, with business virtually stable. The Group's revenues for this region contracted by 1% during the first half of 2013-14 compared with the same period the previous year.
The South American and Asian boat shows in April will represent an opportunity to confirm the outlook for the development of these markets over the season.
The Housing Division's revenues are down 23.7% (-23.1% like-for-like) for the first half of 2013-14.
During the half-year period, the development of the Leisure Home business was marked by the deferral of orders, resulting in later deliveries and therefore later billing than usual during the season. This phenomenon will become less pronounced during the second half of the year. The order book is in line with the Group's expectations, with a similar contraction to that expected for the French market, coming in at around 15% (versus 27% last year). At the end of February, professionals reported a satisfactory level of bookings.
The Residential Housing business recorded €9 million in revenues for the first half of 2013-14 (versus €12 million for the first half of 2012-13). The enhanced range of new products offered are generating orders which will drive the significant growth expected for the next financial year.
Next date:
April 29th, 2014: 2013-14 first-half earnings
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 manufacturing 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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