Despite the challenges faced in 2024, Groupe Beneteau managed to achieve over one billion euros in sales for the year, showcasing the resilience and adaptability of its teams. This success was attributed to the efforts of all employees, enabling the company to surpass its full-year profitability forecast.
One of the key highlights of the year was the sale of the housing business, which will allow Groupe Beneteau to focus on its core boat markets while providing a fair return for shareholders. As a result, the company announced an exceptional dividend of €100m to be paid in March 2025, followed by a current dividend of €18m.
Looking ahead to 2025, Groupe Beneteau is forecasting revenues of €0.9bn to €1.0bn, acknowledging the continued challenges in the market. Despite the uncertain economic landscape, the company remains confident in its ability to adapt and grow, leveraging its strong financial position to outperform the market.
CEO Bruno Thivoyon emphasized the importance of innovation in driving growth, announcing plans to launch 66 new models between 2025 and 2027. This accelerated product development strategy aims to position Groupe Beneteau in new market segments while attracting new customers.
However, the European market poses challenges for the company, with the end of subsidy programs impacting demand for sailing catamarans. In the face of these obstacles, Groupe Beneteau remains focused on reducing costs, adapting to market conditions, and ramping up production to meet demand.
Groupe Beneteau’s Future Outlook
Despite the difficulties faced in 2024 and the ongoing challenges in the market, Groupe Beneteau remains optimistic about its future prospects. The company’s strategic focus on innovation, accelerated product development, and volume production is expected to drive growth and profitability in the coming years.
With a strong plan in place to launch new models and expand into high-end market segments, Groupe Beneteau is positioning itself for success in the competitive boat industry. By adapting to market conditions, reducing costs, and leveraging its financial strength, the company aims to outperform the market and achieve its revenue targets.
As Groupe Beneteau continues to navigate the changing market landscape, its commitment to innovation and growth sets it apart as a leader in the industry. With a clear vision for the future and a dedicated team driving its success, the company is well-positioned to overcome challenges and thrive in the years to come.
The increase in interest rates, combined with the impacts of inflation, had a significant impact on dealers in the marine industry in 2024. As a result, dealers reduced their stock levels by nearly €110m, contributing to a 23% decrease in business between 2023 and 2024.
Sales to end customers also contracted by 7% over the same period, with a particularly marked slowdown in retail demand volumes for the sailing business, which saw a 24% decrease. The motor business segments also experienced a decrease in volumes delivered by the distribution network, impacting sales by €60m. However, the boat division was able to benefit from its premiumisation strategy, with a 9% growth in value, driven by the success of the Prestige M-Line power catamaran range and the penetration of units over 9 meters in the dayboating segments.
The boat division generated €75.9m of income from ordinary operations, with a margin of 7.3% of revenues, higher than forecasted. The division’s EBITDA was €136.3m, representing 13.2% of revenues.
The sale of the housing business to Trigano for €235m strengthened the group’s position, with a capital gain of €38m recognized in 2024. Financial income and expenses were balanced, with net income from interest on investments offsetting expenses related to dollar hedging.
The group’s associates represented an expense of €18.6m, primarily due to a deterioration in the profitability of charter companies in which the group is a minority shareholder. The group recorded €1.9m of free cash flow for the year.
The boat division saw a reduction in internal inventory levels, as well as an increase in working capital requirements items. The housing business contributed €230m to the change in net cash for the year.
After dividend payments and share buybacks, net cash stood at €357m at the end of 2024, with shareholders’ equity increasing to €886m compared to €856m in 2023.
Overall, despite the challenges posed by interest rates and inflation, the group’s financial position remains robust, with a strong performance from the boat division and the sale of the housing business contributing to its stability and growth. The Benefits of Outdoor Exercise
Exercise is an essential part of a healthy lifestyle, and while hitting the gym or attending fitness classes can be great ways to stay active, there’s something special about taking your workout outdoors. Whether you’re going for a run in the park, doing yoga in your backyard, or going for a hike in the mountains, outdoor exercise offers a variety of benefits that can boost both your physical and mental well-being.
One of the main benefits of outdoor exercise is the fresh air and natural surroundings. Being outside can help reduce stress and anxiety, improve mood, and increase feelings of happiness. The sights and sounds of nature can be calming and rejuvenating, providing a welcome break from the hustle and bustle of daily life. Additionally, exposure to natural sunlight can help boost vitamin D levels, which is essential for bone health and immune function.
Outdoor exercise also offers a change of scenery and a chance to explore new surroundings. Instead of staring at the same walls or machines at the gym, you can enjoy the beauty of parks, trails, and beaches while getting your workout in. This can make exercise feel less like a chore and more like an enjoyable activity, motivating you to stick with your fitness routine.
Furthermore, outdoor exercise can provide a more challenging workout than indoor activities. Running on uneven terrain, hiking up hills, or biking against the wind can all help increase your strength, endurance, and cardiovascular fitness. Plus, outdoor workouts often engage different muscle groups than indoor exercises, providing a more well-rounded fitness routine.
Finally, exercising outdoors can also be a social activity. Whether you’re meeting up with friends for a game of soccer, joining a group fitness class in the park, or simply taking a walk with a loved one, being active outside can foster connections and build relationships. This social aspect can help keep you accountable, motivated, and engaged in your fitness journey.
In conclusion, outdoor exercise offers a multitude of benefits for both your physical and mental health. So next time you’re looking to break a sweat, consider taking your workout outside and reap the rewards of nature’s gym.