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Bénéteau shares hit on orders warning
06 Oct 2008
The group reported an 'atypical start to the boat season' for 2009 alongside its 2007-2008 figures, saying the current banking crisis has resulted in a 'wait-and-see' attitude among certain clients.
A statement from the group said: 'The rate of orders for the 2008-2009 season will be very different from previous years, with orders taken later depending on the country.'
On news of the order warning Bénéteau Group shares hit a 52-week low of EUR9.26 but recovered on 2 October to EUR9.45 per share.
Bénéteau reported sales for its 2007-2008 (September 1 to August 31) financial year as exceeding predicted levels.
Boat sales grew by 7.8% on the year before from a value of EUR798.7m in 2006-2007 to EUR860.7m in 2007-2008. Sailboat sales grew by 6.2%, generating EUR569.4m for 2007-2008. Powerboat sales grew 10.9%, totalling EUR291.3m.
Group sales totalled EUR1,094.6m for the period, an increase of 8% on 2006-2007.
Growth in boat sales combined with the success of the group's other activities, including its leisure home business, meant the Bénéteau Group achieved in excess of its EUR150m EBIT target for 2008.
The Bénéteau Group employs 6,000 people across 24 production sites and is represented in over 50 countries.
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