Bénéteau sharpest increase in SRD after earnings forecasts revised upwards – 05/12/2022 at 15:22


A First 36 sailboat built by Bénéteau. (photo credit: Bénéteau / )

(AOF) – The Bénéteau title shows the largest increase in the SRD with a gain of 16.21% to 12.76 euros thanks to the increase in its outlook. The pleasure craft specialist points out that the 2022 financial year will be significantly ahead of the pace of the 2020-2025 strategic plan “Let’s Go Beyond! “.

Thus, the group’s consolidated turnover should exceed 1.4 billion euros in 2022, up 15% on that of 2021. The group should reach – or even exceed – its latest forecast for current operating profit – of 120 to 125 million euros – which would thus increase by more than 30% compared to 2021

The group’s current operating margin should be above 10% from 2023 thanks to a solid order book, and revenue growth should be above 15%.

The revenue target for 2025 would be between 1.8 and 2.0 billion euros, i.e. average annual growth of around 10%, with a current operating margin of 11.5%, in the upper range of the forecast.

In detail, Bénéteau announces for 2022 a growth in the turnover of its Boat division close to 12%. This division is aiming for a turnover of between 1.5 and 1.65 billion euros by 2025, with an average annual growth of around 10%, evenly distributed between its markets. In the Engine business segments, sales growth should be between 12% and 14% on an annual basis by 2025, and in the Sailing segments between 7% and 10%. At the high end of this revenue range, it is aiming for an operating margin of 11.5% by 2025.

The operating margin of the Housing division, which stood at 6.8% in 2019, now exceeds its pre-Covid level. It should reach more than 7.5% in 2022 and will continue to rise to between 11% and 12% by 2025. It should reach 245 million euros in turnover in 2022 and exceed 300 million euros by 2025.

Revenue from the weekly rental and Boat club activities, consolidated using the equity method, should exceed 300 million euros by 2025, with operating profitability above 6%.

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Out of the crisis for the cruise

The recovery is tangible in Europe. MSC Cruises, the leading European company, resumed operation of its entire fleet in June, i.e. 19 cruise ships – including 14 in the Mediterranean. Similarly, the Costa group, a subsidiary of the American cruise giant Carnival, should operate all of its liners (24 in number) by the end of the year. On the other hand, China remains on the sidelines of the general movement, due to its extremely restrictive health policy. The Cruise Lines International Association (CLIA) expects the industry to return to its 2019 record traffic of a total of 32 million cruise passengers by the end of 2023.



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