Group Beneteau’s revenue for the first half of 2025 was down 27% but in line with expectations in an uncertain macroeconomic environment.
The Group has stabilised its inventories with its distribution networks and expects a gradual resumption of sales growth in the second half in 2025, driven by the launch of new products.
“As anticipated, the Group’s activity in this first half of the year has been marked by a climate of geopolitical uncertainty,” explained Bruno Thivoyon, chairman of the management board of Groupe Beneteau.
“The commercial success of the new models has led to an increase in order intake in the first half of the year.
“This new momentum is expected to accelerate with the launch of 20 new models, allowing us to anticipate a gradual resumption of sales growth from the second half of the year, as dealership inventories are now back to normal.”
As anticipated, the Group’s activity in this first half of the year has been marked by a climate of geopolitical uncertainty.
Bruno Thivoyon
In the second quarter, boat sales amounted to €273.5 million, down 16% compared to a decrease of 43% in the first quarter.
Revenue reached €403.8 million for the six-month period versus €556.6 million in the same period in 2024.
The 27% decline is linked to the slowdown in final demand, to a deferral of invoicing of approximately €20 million linked to the change of ERP at the Bordeaux site.
The reduction in network inventories amounted to approximately €40 million, mainly concentrated on the Engine segments.
In Group Beneteau’s Engine business, sales amounted to €219 million over the half-year, down 20%.
Premium customers
The slowdown in activity reflects a more marked decline in sales by European brands in the Dayboating segments and the wait-and-see attitude of premium customers within the Motor Yachting segments in the second quarter.
The weakness in the markets was partly offset by the recovery of American brands (+47%) and by strong sales of motor multihulls in Prestige’s M-Line range.
In the Sailing business, sales fell by 36%, with a slowdown in fleet deliveries to professional charter companies (-55%) and by the wait-and-see attitude that prevailed in the monohull sailing boat segments (-46%).
During the last quarter, sales of multihull sailing boats slowed by 23% compared to a high comparison base in 2024.
Economic uncertainties
In the United States, sales slowed during the first half of the year in the Motor Yachting and Sailing Catamaran segments due to a deterioration in confidence levels linked to economic uncertainties.
In the Dayboating segments, exports to the United States were affected by the implementation of customs duties and the impact of the Euro / Dollar exchange rate.
The slowdown was partially offset by a rebound in deliveries of models manufactured in the United States.
In Europe, the nautical market contracted across all segments in a challenging geopolitical context, particularly in Germany, France, and the United Kingdom.
Orders
The Group has recorded more orders in the first half of 2025 than in the two previous financial years over the same period, despite an uncertain context, particularly concerning customs duties towards the United States.
The Group continues to accelerate the launch of its new models, aiming to continue its move upmarket and revitalising its offering in higher volume segments.
Beneteau anticipates the launch of the new Gran Turismo range, in partnership with Alpine, and the renewal of the Trawler range will enable the Group to rebound in the Motor Yachting segments.
The Group is hoping its new Oceanis 47 and 52, the Sun Odyssey 415 and the Lagoon 82, will contribute to revitalising its monohull and multihull sailing markets.
The Group will unveil 20 models during the 2025/2026 season.
