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2023: a record year for Group Beneteau

Group Beneteau’s Boat division had record revenues of €1,465m in 2023, up 17.1% from 2022.

While the Group saw a slowdown in demand in its Motor business (-€150m), this was more than offset by the Group’s value-driven growth strategy across all its segments (+€190m) as well as progress with deliveries of sailing units (+€40m).

Sales also benefited from the distribution network’s stock replenishment, back up to pre-Covid levels (+€150m).

“2023 was a record year for Groupe Beneteau,” said Bruno Thivoyon, Groupe Beneteau CEO.

“The Group’s 8,000 staff achieved an outstanding collective performance: income from ordinary operations of over €240m, with a double-digit net margin.”

And he said that the Boat division will be able to maintain an operating margin of 7% to 10% in 2024, despite the impact of higher interest rates.

The Sailing business saw a significant upturn in sales to charter professionals (+68%).

The Dayboating segments had a 3% increase in revenues, with a 23% reduction in the number of units delivered.

Dayboating segments had a 3% increase in revenues
Dayboating segments had a 3% increase in revenues

This sector benefited from the extension of the Merry Fisher and Antares lines, as well as the launch of the DB range.

During 2023, the Group continued with the rollout of its B-Sustainable programme which was launched in 2022.

41% of the Boat division’s purchases are now placed with suppliers whose CSR approach has been formally assessed.

This programme looks at the choice of materials used, integrating biosourced and recyclable elements, as well as the selection of alternative propulsion solutions and optimisation of boat architecture solutions.

In line with this approach, the Group has acquired a stake in the Swedish company Candela, which develops foiling electric boats. The technology reduces energy consumption by up to 80% compared to traditional vessels.

Product teams will also continue to develop their next models based on client usage practices using data gathered using Group Beneteau’s Seanapps digital solution.

For 2024, the Group expects to see dealer inventory levels contract by around €100m to €150m.

It is expected that the Boat division will maintain an operating margin of 7% to 10% in 2024.

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