Groupe Beneteau: Positive operating profit in 2024 despite boating market contraction
Groupe Beneteau closed 2024 with a positive financial performance, reporting revenues exceeding one billion euros (€1.034 billion) and an operating profit of €75.9 million, representing 7.3% of revenues. These results were achieved despite an unfavorable market context marked by a significant contraction in the global boating industry.
Compared to the record year of 2023, driven by increased inventories at the dealer network, revenues fell by 29.4%. This decline mainly stemmed from dealer destocking actions prompted by rising interest rates and inflationary pressures.
The sailing division experienced a significant decrease of approximately 24%, whereas the motorboat segment saw sales decline by 11%. However, Groupe Beneteau benefited from its premium-focused strategy, achieving a 9% increase in sales value, primarily driven by the successful launch of the PRESTIGE M-Line series and dayboating models exceeding 9 meters.
Strong financial position and extraordinary dividend
Following the sale of its Housing division, finalized in November 2024 with a capital gain of €38 million, Groupe Beneteau significantly strengthened its financial position. Net liquidity reached €357 million by the end of 2024, enabling an extraordinary dividend payment of €1.21 per share on March 27, 2025, followed by an ordinary dividend of €0.22 per share.
Strategic acceleration and growth outlook for 2028
For 2025, Groupe Beneteau anticipates continued challenges during the first half, projecting annual revenues between €0.9 and €1.0 billion. Nevertheless, the Group has clearly outlined a recovery plan, announcing the launch of 66 new models from 2025 to 2027, targeting revenues of €1.5 billion and an operating margin of 10% by 2028.
CEO Bruno Thivoyon emphasized that, during market downturns, introducing new ranges and models allows resilient companies to position themselves optimally for recovery, expected to begin with the 2025/2026 season.
Sustainability and innovation at the core of the strategy
Aligned with the B-Sustainable plan, Groupe Beneteau reduced its CO2 emissions intensity by 29% compared to 2022. This achievement was driven by targeted investments in electric hybrid propulsion, innovative naval architecture, and recyclable materials. The Group reaffirms its commitment to sustainable and accessible boating, targeting a further 30% reduction in emissions intensity by 2030.
Through these achievements and strategic initiatives, Groupe Beneteau demonstrates financial and strategic resilience, successfully addressing global economic challenges and laying a strong foundation for sustainable future growth.
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