Groupe Beneteau reported slower sales for the first quarter of 2025, with revenues of €130 million ($146 million), down 43% year-over-year. The company said it expected the quarter to be the low point for the year in terms of revenues and profitability before a gradual upturn in the second half, supported by the launch of 20 new models.
“The macroeconomic environment, and particularly the uncertainty surrounding tariffs in the United States and their consequences for the global economy, is increasing the wait-and-see approach adopted by our clients and our distributors during the first half of this year, which is expected to see a loss,” CEO Bruno Thivoyon said in a statement. “In this context, the group is focusing on three priorities: supporting and developing its distribution network, accelerating its product developments, and continuing to adapt its cost structure in line with changes on the markets.”
The company’s sailing segment saw a marked slowdown in demand, especially in multihulls. Revenues for the sailing business contracted 51% during the quarter to €54.2 million ($60.9 million).
Powerboat sales to end clients dropped nearly 19% during the quarter, linked primarily to a slowdown in demand for dayboats in Europe. For motoryachts, distribution network sales remained stable overall compared with the first quarter of 2024, with the wait-and-see approach observed in the United States offset by a still sustained level of demand in the rest of the world, the statement said. Against this backdrop, revenues for the powerboat business — the most affected by the changes in inventory for dealers — recorded a 37% decrease to €70.5 million ($79.1 million).
In its outlook for the remainder of the year, Groupe Beneteau said that while demand has weakened across all boat markets, the uncertainty surrounding tariffs could delay the recovery in exports to the United States and further intensify the slowdown in demand seen in Europe.
“Although it is still too early to assess the impacts of this geopolitical context on revenue levels — expected at this stage to range from €900 million ($1 billion) to €1 billion ($1.12 billion) for the year — the group has decided to support its American distribution network by covering part of the tariffs on imports,” the company stated. “These measures, which aim to reduce the short-term impact of the uncertainty relating to trade barriers on demand from its clients, could affect the group’s income from ordinary operations by nearly €10 million ($11.2 million) in 2025.”
