Beneteau Group Exceeds Expectations Despite Market Challenges

Profitability Surpasses Forecasts

While the Boat division’s revenue decreased by 29.4% compared to the record year of 2023, settling at €1.03 billion, this decline was largely anticipated. Inflationary pressures, rising interest rates, and significant destocking by distributors impacted volumes, particularly in multihull sailing and motorboats.

Despite this contraction, the Current Operating Income reached €75.9 million, representing 7.3% of revenue, significantly exceeding the projected range of 4% to 6%. This outperformance is attributed to a series of industrial adjustments, a targeted reduction in indirect costs (€20 million), and the success of upscaling efforts, which partially offset the decline in volumes.

“The Beneteau Group’s teams have once again demonstrated their remarkable ability to adapt to the significant changes in the boating markets in 2024. The efforts of all employees have enabled us to exceed one billion euros in sales, as well as the high end of the profitability range forecast for the year,” states Bruno Thivoyon, CEO.

A Stronger Financial Structure Than Ever

The Group has also secured net cash of €357 million (+€123 million year-on-year), supported by the sale of the Housing division to Trigano for €235 million. This transaction strengthens the Group’s specialization in boating and allows for the payment of an exceptional dividend of €1.21/share from March 27, 2025, supplemented by a regular dividend of €0.22/share.

The Group’s net income reached €92.9 million in 2024, including €63 million from divested activities. Shareholders’ equity increased to €886 million, indicating a solid foundation to support future ambitions.

Massive Product Offensive for 2025-2027

While the market remains uncertain in the first half of 2025, the Beneteau Group is banking on a recovery from the 2025/2026 season onwards, thanks to an unprecedented renewal of its product range. 66 new models will be launched between 2025 and 2027, compared to 44 in the previous three years.

The objective is to win back customers at all levels of the range. The premium segment will be strengthened with iconic models such as the LAGOON 82, the BENETEAU First 60, and the PRESTIGE M7. At the same time, the entry-level range will be revitalized with the LAGOON 38, the First 30, and the new Freedom Series from FOUR WINNS.

This offensive strategy aims to increase revenue to €1.5 billion by 2028, with an operating margin of 10%.

Ongoing Sustainable Transformation

Despite the slowdown in activity, the Group has not slowed down its environmental transition. Carbon intensity continued to decline, from approximately 920 tCO2/M€ in 2022 to approximately 650 tCO2eq/M€ in 2024. Five major innovations have emerged, such as the Swift Trawler 54 and the “Island Cruising” hybrid propulsion concept.

On the CSR front, 56% of purchases are now made from suppliers evaluated on their commitments, while the B-Equal program for gender equality in the workplace continues to be rolled out.

With a sound financial base, an ambitious industrial vision, and strong product momentum, the Beneteau Group demonstrates that it is not simply reacting to the market, but intends to continue shaping it.

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