Beneteau Reports Expected Revenue Contraction for H1 2024

The first half of 2024 saw Beneteau’s revenues decrease as anticipated, following a record year in 2023. The Boat division experienced a significant decline in revenue of 32%, impacted by reduced inventory levels in dealerships.

Despite the challenging macroeconomic landscape, Beneteau's premiumization strategy mitigated some adverse effects. Revenues are projected around €1bn for 2024, with ordinary operating margins predicted to fall between 3% to 6%, excluding American brands.

The Housing division showed more stability, posting a slight revenue drop of 3%. European brands benefitted from premiumization, whereas American brands faced a 50% revenue decline due to slower demand for smaller units.

With ongoing adaptation measures and a consolidation of its American production, Beneteau remains focused on leveraging its new models and solid cash position to navigate uncertain market conditions.