PHOTO COURTESY EXCESS CATAMARANSGroupe Beneteau reported an increase of 18.3% in overall revenues in 2023, with boat-division sales up 17.1% and the housing division up 24.2%. For the fourth quarter, the boat division had sales of $385 million, down 11.9% compared with the prior year.
“Groupe Beneteau had an exceptional year in 2023. The relevance of its value-driven growth strategy and the dedication, efficiency and effectiveness of its 8,000 employees enabled the group, with the normalization of the supply chain, to record historic revenues,” CEO Bruno Thivoyon said in a statement. “Buoyed by this growth of over 18%, despite the slowdown in demand for the smallest units, the group once again exceeded its latest forecast for an operating margin of 12%.”
In the fourth quarter, the sailing division was up 30.9%, and powerboats were up 7.5%. For the full year, boat division revenues totaled $1.57 billion, which the company said allowed dealers build inventory to prepandemic levels.
The sailing business represented 47% of full-year sales and increased more than 30%. The company pointed to the success of the Excess catamaran brand, which doubled its sales in a year, and Lagoon, which had a 68% increase thanks to strong demand from the charter segment. Sailing monohulls saw 22% growth for the 2023 model year.
On the powerboat side, Groupe Beneteau had 9% growth for the year. The Prestige brand delivered its first catamarans from the M-Line series.
Groupe Beneteau this year marks its 140th anniversary. The company said the boat group is expected to achieve an operating margin of 7% to 10%.
