Please select your home edition
Edition
InSunSport - International - Endure

Beneteau in financial loss, but things are looking up

by Beneteau Group/Des Ryan on 11 Nov 2013
Cruising start - Beneteau Cup and French Yacht Challenge 2013 Troy Cassidy / Elements Imaging https://www.facebook.com/elementsimaging
When the Beneteau Group records a financial loss for the year, you know things have been tight for the year. Arguably the best known and most successful boat building in the world has reported an operating loss of -€1.3m in the Boat division for the year ended August 31, 2013.

However this was a much better figure than initially forecast and it's certainly not all bad news, with the 2014 season expected to mark the global boat market's first growth in five years, of around 3-5 percent.


The French sail and motorboat builder has released details on earnings for its 2012/13 financial year.

Sales in the Boat division were up by 2.4 per cent to €624.4m for the full year ended August 31, 2013, compared to fiscal 2012. Operating income came to -€1.3m versus an initial forecast of -€5.5m, thanks to business exceeding the targets set and a positive trend for margins on direct costs.

Beneteau balances its boat division with housing activities. Total group sales were down 12.4 per cent to €815.4m. In the Housing division, sales were down by 13.7 per cent to €191m. Nevertheless, operating income from housing was also better than expected, reaching €2.3m compared with an initial forecast of -€2.0m.

Benteau's leisure home business generated nearly €7m in operating income, two times more than the figure forecast for the year, thanks to the doubling of international sales and the group’s rapid adaptation faced with a significant contraction on the domestic market. Operational losses in the residential housing business came in at -€4.6m compared with an initial forecast of -€5.5m.

In total, the Beneteau Group recorded €1m in operating income, better than the expected operational loss of -€7.5m, reflecting the upturn in earnings on boat boats and housing. After factoring in a financial balance of -€2.6m, a -€0.6m tax expense and a €2.6m share in earnings from associates, the group recorded €0.7m in net income for the year.

'The performances achieved in the 2013 season and the long-term trends for the markets represent positive factors for the 2014 season,' says Beneteau in a statement. 'In North America, the first tentative trends seen in 2013 are encouraging and are being confirmed at the start of this 2014 season.

'Emerging countries in Asia and South America are markets where customers are buying new boats for the first time, benefiting from structural growth, even if the levels of progress on the markets vary depending on the economic environment.

'Caution is still needed in Europe, where markets are rising in certain countries, but falling in others. In view of these varied trends, the European region overall is expected to be stable at best in the 2014 season.'
Pacific Sailing School 660x82 1Southern Spars - 100Ensign 660

Related Articles

Kids Polarised Sunglasses from Barz Optics
Barz Optics have developed a quality range of junior polarised sunglasses ideal for sailing and fishing. Barz Optics have developed a quality range of junior polarised sunglasses ideal for sailing and fishing. Each pair are supplied with a neoprene case and sunglass retainer.
Posted on 4 Aug
Reducing weight aloft with composite backstays
Reducing weight aloft is one of the most cost effective ways of increasing your boat speed and performance. Reducing weight aloft is one of the most cost effective ways of increasing your boat speed and performance. Every kilogram you take out of the rig is roughly equivalent to 4kg added to the bottom of your keel!
Posted on 26 Jul
Bavaria STYLE 46 Australian Premiere at Sydney International Boat Show
For everyone who appreciates luxury on the water, the STYLE package is now available for the Cruiser 46 and Cruiser 51?. For everyone who appreciates luxury on the water, the STYLE package is now available for the Cruiser 46 and Cruiser 51?. Making the most of your time on board, be it with family or friends, is becoming more important. Yacht owners want certain levels of comfort and an onboard living experience coupled with versatility.
Posted on 26 Jul
What to look for when buying a modern lifejacket
There is no doubt that modern lifejacket design has changed considerably. There is no doubt that modern lifejacket design has changed considerably and one of the biggest drivers of this change has been due to personal ownership. Rather than crew relying on lifejackets being on-board a boat, they want to own their own lifejacket as part of their kit bag.
Posted on 25 Jul
The New Bavaria Cruiser 34 - you won't believe this is a 34' yacht!
The Sydney International Boat Show sees the World Premiere of the Bavaria Cruiser 34 - 2 Cabin version. The Sydney International Boat Show sees the World and Australian Premiere of the Bavaria Cruiser 34 - 2 Cabin version. The new Cruiser 34 offers more space and more comfort than ever before with a bigger cockpit, dual helms and ergonomically designed seating. This is the first time the entry level Bavaria cruiser has been offered in twin helm!
Posted on 19 Jul
Navathome Australia brings RYA Theory to your door
The RYA Cruising Syllabus has been built up over years of best practice development in Sail and Power Boat skippering. The Royal Yachting Association Cruising Syllabus has been built up over years of best practice development in Sail and Power Boat skippering. Split into a theory and practical syllabus the training modules take you in steps from a Start Yachting orientation through to Yachtmaster for either power or sail.
Posted on 5 Jul
Free $US3,000 Carbon Vang with SouthernFurl boom orders in July
Southern Spars is giving a free carbon vang - valued at US$3,000 - with SouthernFurl in-boom furlers ordered in July Southern Spars is giving away a free carbon vang - valued at US$3,000 - with all of their SouthernFurl in-boom furlers ordered in July. Carbon gas vangs make a great addition to the furling boom package, though if you’d prefer to keep your existing one, Southern Spars will offer you a 5% discount on the price of your boom instead.
Posted on 29 Jun
Newport Bermuda Race - High Noon takes honours
As the Newport Bermuda Race fleet rushed to the finish line on Monday in the wake of the first-to-finish boat, As the Newport Bermuda Race fleet rushed to the finish line on Monday in the wake of the first-to-finish boat, the powerful 100-foot grand prix Comanche, to the surprise of many they were led by an unusual boat and crew. High Noon, at 41 feet, is fully 59 feet shorter than Comanche and tens of feet shorter than many other entries.
Posted on 22 Jun
Platino recovery - Family confirms that tug has made rendezvous
Reports in social media say a salvage tug has made a rendezvous with the Platino earlier than expected. Reports in social media by family and friends of Nick Saull, the crew member killed during a catastrophic incident abroad the 66ft yacht Platino say the salvage tug which left on Tuesday night has made the rendezvous earlier than expected. The Facebook report says the tug, Sea Pelican, arrived on Friday morning, the weather in the area has eased and with a more favorable outlook.
Posted on 16 Jun
Royal Queensland Yacht Squadron to ban bottled water
Approval has been given to create a ban on bottled water that comes in plastic containers. The RQYS Management Committee has confirmed that approval has been given to create a ban on bottled water that comes in plastic containers. This will place the club as a leader in environmental impact management in Australia and around the world. The Royal Hong Kong Yacht Club earlier this year did likewise. Who’s next?
Posted on 16 Jun