Groupe Beneteau 2022 Revenues up 22.9%

The introduction of 20 new models helped boost sales, and the marine division is expecting revenue growth of more than 10% in 2023.

By Eric Colby

March 23, 2023

Groupe Beneteau reported that it closed out fiscal year 2022 with revenues of $1.6 billion (€1.5 billion). Income from operations was $169 million (€155 million) for the year, which represented 10% of revenues. Net income was $112 million (€103 million), which the company said was a 40% increase.

“The robust development of all the markets that the group operates on, the quality of its product offering, and the excellent operational execution achieved, despite the supply chain disruption that affected the entire industry, enabled Groupe Beneteau to set two historic records, with over €1.5 billion of revenues and €150 million of income from ordinary operations,” CEO Bruno Thivoyon said in a statement. “The group is therefore perfectly positioned to achieve its new objective looking ahead to 2025.”

Full-year income was a 61.5% increase compared with 2021 and a 2.5-point improvement in ordinary operating margin. The boats division was up 2.4 points to 10.5%, and housing increased 2.8 points to 8.9%. Consolidated EBITDA increased to $249.5 million (€229.2 million), representing 15.2% of revenues versus 14.8% in 2021. Net income for 2022 came to $112.2 million (€103.1 million).

In the boats group, 20 new models helped drive growth and increase dealer inventories. The company expects the division to see growth exceeding 10.5% in 2023.

The Lagoon 51 and 55 catamarans and the Excess 14 catamaran led the way for the sailboat segment, followed by the monohulls First 44, Oceanis 60 and Jeanneau 55. On the powerboat side, the launches of the Jeanneau 37 DB and 43 DB, the Wellcraft Adventure 355 and 435, and the Prestige M48 and M8 represented entries into new markets.

The group said its accident frequency rate fell by more than 25% in 2022 compared with 2021, which represents a 50% decrease since a proactive approach was introduced in 2016. A target for a further reduction of 15% has been set for the next three years.

The group reported that it reduced CO₂ emissions per thousand hours worked by 14% compared with the previous year. The company said it plans to offer alternative propulsion solutions across its portfolio by 2030. Recycled resins will also be worked into boatbuilding operations.

Groupe Beneteau said it plans to generate more than $1.8 billion (€1.66 billion) in revenues in 2023. Income from ordinary operations is expected to come in higher than $185 million (€170 million), which represents 10.3% of revenues.