Earnings Release • Jan 9, 2014
Earnings Release
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After further strengthening its global position on both sailing yachts and motorboats, with a positive order book at end-November, the Boat business expects its annual growth to be considerably higher than the level of billing for the first quarter, while the contraction for the Housing business over the full year is set to be considerably less marked than during the first quarter.
Traditionally, the first quarter's revenues are not particularly significant in terms of the Group's business, accounting for 10 to 15% of sales over the full year.
| €'000,000 | Sep-Nov 2013 | Sep-Nov 2012 | Change like-for-like |
|---|---|---|---|
| Boats | 74.7 | 74.2 | + 0.7% |
| Housing | 15.1 | 22,0 (1) | -28.9% |
| Consolidated revenues | 89.8 | 96.2 | -5.9% |
(1) Of which, €0.7M for the Vacances Krusoe business sold with effect from September 1st, 2013
For the Boat business, the good performances achieved at the recent boat shows confirm the forecasts for the global market to grow by around 3 to 5% for the 2014 season.
In Europe, where several markets are in a recovery phase, the market's contraction is expected to be limited compared with the previous season, coming in at between 0 and -5%. With a growing motorboat range, the Group is positioned to benefit from a significant upturn on the North American market in 2014, confirming our expectations following the positive signs seen in 2013. Latin America and Asia are markets where customers are buying new boats for the first time, benefiting from structural growth, although their rate of development looks set to slow down as a result of the general economic environment in 2014.
As in the past, the Group's ambition is to achieve stronger growth than the market thanks to its extended ranges and the new models released, which make up around 30% of its boat revenues.
In the Leisure Home sector, as forecast, tourism professionals in France have taken their investment decisions later on in the season. Nevertheless, since mid-October, part of this delay has been made up for thanks to the higher level of orders booked compared with the previous year. In this way, the French market could contract by around -15% in 2014, with a significantly less marked decline than in 2013.
In the Residential Housing business, with €4.1 million in revenues for the first quarter of FY 2013-14, the new enhanced and competitive range is being gradually released during the year.
Since the end of FY 2012-13, the company's financial position has not changed significantly, other than in connection with the seasonality of its activities, and it continues to be characterized by a sound financial structure.
As 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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