Beneteau : 210511 BENETEAU 2021-Q1

Press release - May 11, 2021

First-quarter business and outlook for 2021

• Positive trends for the boat and outdoor accommodation markets
• 2021 full-year guidance raised for revenues and operating income
• Order book* up +21% to €1,370m at end-March

The boat market and the outdoor accommodation market show positive trends at the start of 2021, and both of the Group's divisions have effectively capitalized on this, despite the cyberattack mid- February.

In view of this positive environment and its performance on its markets, the Group is raising its full-year revenue and income from ordinary operations guidance for 2021.

The Group is forecasting revenue growth of +2% (+1% for the Boat Division, +7% for the Housing Division), compared with the stable performance previously expected. This growth could have exceeded 6% without the impact of the cyberattack, which is estimated at €45m on the 2021 revenues.

The improvement can be seen even more strongly for income from ordinary operations, which could achieve +90% growth compared with proforma 2020 income from ordinary operations of €27.5m, up from the +60% estimated previously. This progress is even more significant as it is set against a global context of pressure on prices for raw materials, certain components and international transport, while these pressures have been managed effectively thanks to the work of the procurement and supply chain teams.

The global order book* at end-March came to €1,370m, up +21% based on reported data.

For the Boat Division, the growth in orders reflects the robust development of all the segments that the Group operates in, with the exception of the charter market, on which activities have not yet started up again.

For the Housing Division, the order book is supported by growth on export markets.

The figure for Group revenues at end-March (€286.5m, -24.3% based on reported data, -22.9% at constant exchange rates), strongly impacted by the effects of the cyberattack, is not particularly significant.

At end-April, revenues were down by just 4.5% based on reported data (-2.9% at constant exchange rates), with operations returning to normal following the cyberattack.

* Invoiced since the start of the year and to be delivered in FY 2021 and beyond

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Press release - May 11, 2021

Revenues at end-March and end-April 2021

				Change
€m		2021	2020	Reported	Constant
				exchange
				data
				rates
1st	REVENUES	286.5	378.3	-24.3%	-22.9%
Boats	221.9	297.5	-25.4%	-23.7%
quarter
2021	Housing	64.6	80.8	-20%	-20%
	REVENUES	413.5	433	-4.5%	-2.9%
At April
Boats	328.2	338.3	-3%	-0.9%
30, 2021
	Housing	85.3	94.7	-9.9%	-9.9%

The Group can also announce that it has entered into exclusive negotiations with the shareholders of the Portuguese yard Starfisher to acquire a significant interest in its capital, with a view to increasing the production capacity for boats under 35 feet for Groupe Beneteau's various brands.

Groupe Beneteau will be reporting:

• 2021 first-half revenues on July 28
• 2021 half-year earnings on September 29

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Press release - May 11, 2021

FINANCIAL GLOSSARY

At constant exchange rates: change calculated based on figures for the period from January 1, 2021 to March 31, 2021 converted at the exchange rate for the first quarter of 2020 (January 1, 2020 - March 31, 2020).

Revenues: in connection with changes to its commercial processes launched during the first half of 2020, Groupe Beneteau has changed the invoicing date for boats produced in Europe, previously based on when boats were made available at the yard, while invoices are now issued on the date when boats are shipped to dealer clients, consistent with the recognition of revenues. This change is effective at the end of the interim period at August 31, 2020.

ABOUT GROUPE BENETEAU

As the boating industry's global market leader, Groupe Beneteau, through its Boat Division's 11 brands, offers nearly 180 recreational boat models serving its customers' diverse navigational needs and uses, from sailing to motorboating, monohulls and catamarans.

Leading the European leisure homes market, the three brands from the Group's Housing division offer a comprehensive range of leisure homes, lodges and pods that combine eco-design with high standards of quality, comfort and practicality.

With its international industrial capabilities and global sales network, the Group employs 7,500 people, primarily in France, the US, Poland, Italy and China.

CONTACTS - GROUPE BENETEAU

INVESTORS AND PRESS CONTACT		SHAREHOLDER CONTACT
Mirna Cieniewicz		Yannick Coicaud-Thomas
[e-mail]		[e-mail]
Tel [phone]			Address: 16 bd de la Mer - CS 43319
		85803 Saint Gilles-Croix-de-Vie Cedex - France

www.beneteau-group.com

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