Groupe Beneteau reported third-quarter revenues of $197 million, a 3% decrease year-over-year. The France-based builder saw a 33% upturn in orders booked, “supported by the strategy to accelerate new models, despite a challenging macroeconomic environment,” a company statement said.
“In a market context that is still challenging, the strategy to accelerate our launches of new models is delivering results,” board chairman Bruno Thivoyon said in the statement. “Order intake levels, which have increased significantly since the start of the year, are now once again higher than sales. While dealer inventories have normalized, this turnaround in our commercial development will gradually pave the way for a resumption of growth in revenues as expected over the coming quarters.”
Powerboat sales rose 23% at constant exchange rates in the third quarter. Sailing segment revenues contracted 36%, impacted by a 47% slowdown in demand from charter professionals.
In North America, activity picked up (plus-8% at constant exchange rates) in a context of inventory levels stabilizing, primarily in the dayboating segments. Demand for sailboats and motoryachts in the United States continued to be restricted by tariffs of nearly 15%. In Europe, where sailboats account for a significant percentage of the group’s sales, powerboat sales were insufficient to return to growth this quarter, the company said.
Groupe Beneteau expects a gradual return to sales growth during the coming quarters, and fourth-quarter revenue is forecasted to be $345 million.
