2019-20 half-year earnings: Group positioned to weather the crisis

For the first half of 2019-20, the Boat division recorded revenues of €422.2 million, up 4.6% year-on-year (+3.6% at constant exchange rates).

This division's growth is being supported by fleet sales, which represented 25% of first-half revenues and are driving demand for mono and multihull sailing models. On the European markets, all the segments, with the exception of monohull sailing (due to an unfavorable base effect), show growth. In North and Central America, sales were affected at the start of the half-year period by a destocking throughout the market. While sales for the Jeanneau and Beneteau brands on this continent are up, this is not the case for the American brands, which have continued to fall. Markets in other regions around the world (Asia-Pacific, South America, Rest of World) recorded low levels of activity, with sales representing less than 8% of first-half revenues.

Buoyed by growth in fleet sales for charter firms, the percentage of sailboats is up 3.5 points to 53.5% of Boat division revenues, compared with 46.5% for motorboats.

Affected by non-recurring items and the increase in depreciation, the Boat division's income from ordinary operations came to -€18.1 million, compared with -€11 million the previous year.