BENETEAU (EPA:BEN) - BENETEAU : Revenues for the first nine months of 2015-16 - Solid growth confirmed

Transparency directive : regulatory news

05/07/2016 17:40

Press release July 5, 2016

                Revenues for the first nine months of 2015-16
                            Solid growth confirmed

- Dynamic level of business for the Group in the third quarter
  o Strong increase in orders for the Boat business
  o Sustained growth for the Housing business
- Earnings forecasts confirmed for the year Third-quarter and nine-month
  revenues

Third-quarter and nine-month revenues

EUR'000,000                       Q3 revenues     9-month revenues
                                   2015-2016          2015-2016

Boats                                285.0              576.2
Housing                               86.3              143.2
Consolidated revenues                371.3              719.4

Revenues for the third quarter came to EUR371.3 million, with EUR719.6 million
for the first nine months of the year. They cannot be compared with the
revenues reported at the end of the third quarter the previous year, when
around EUR20 million of invoices to be issued for the Boat business were
recorded early. This anticipated billing led to an increase in the revenues
reported on July 8, 2015, but did not have any impact on the full-year revenues
presented in the audited accounts at August 31, 2015. Corrected for this
increase, revenue growth for the Boat business between the first nine months of
last year and the first nine months of the current financial year would be
around 3.5% at constant exchange rates.
The significant increase in orders booked since the start of the year has been
reflected in a further acceleration in revenue growth since June.

Positive indicators for both business lines

* Boats: the level of orders for the year to end-May 2016 represents EUR842
  million, up 11.5% at constant exchange rates. The very good level of
  business for the Group on European markets - particularly in France, Germany,
  Spain and Italy - is a key factor behind the strong growth achieved by the
  Boat business.

                                                      Change at
                                        Change on a   constant
EUR'000,000         9 months  9 months   reported     exchange
                    2015-16   2014-15      basis        rates

Boat orders           842      748.8      +12.4%       +11.5%

* Housing: for Leisure Homes, the upturn in investments by tourism
  professionals was confirmed in the third quarter. Revenues for the first nine
  months of the year for the entire Housing business climbed to EUR143.2
  million, up +11.9% from the same period last year.

Outlook for the full year in 2015-16

- Driven by the higher volumes of orders compared with last year and the
  delivery schedule that continued to accelerate over June for Leisure Homes,
  full-year growth of around 14% is expected for the Housing business in
  general.

- The first nine months of the year highlighted the positive trends for the
  Boat business, even if revenues at May 31 do not show the level of growth
  expected. The acceleration in the level of billing in June 2016 and the
  increase in the production capacity for catamarans will be reflected in
  revenues for the fourth quarter and therefore the full year. However, it is
  important to remain cautious in view of the current uncertain environment,
  marked by external factors, including the Brexit recently. These factors are
  limiting visibility concerning changes in orders for the last three months of
  the year.

- However, the cost control measures rolled out and the first results of the
  Group's transformation actions are expected to make it possible to confirm
  the forecasts for income from ordinary operations and very strong net income
  growth for FY 2015-16.

About the BENETEAU Group

The world's number one sailing yacht builder - both mono and multi-hull - the
Beneteau Group has continued to make progress on motorboats, and is now a
global market leader.

On both sailing yachts and motorboats, the Group's brands - BENETEAU, JEANNEAU,
LAGOON, PRESTIGE, MONTE CARLO YACHTS, CNB, FOUR WINNS, GLASTRON, WELLCRAFT and
SCARAB - are able to offer more than 200 models ranging from 15 to 105 feet.

The Group is also a leading player on the European leisure home market, with
its O'HARA and IRM brands, and is developing its business on the market for
high environmental performance residential housing. Designing and producing
timber-frame houses, it aims to make quality homes that are affordable and in
line with sustainable development standards.

Breakdown of revenues by business*
2014-15 Group revenues: EUR969.5 M

Sailboats     37.8%
Motorboats    46.7%
Housing       15.5%

* with Rec Boat Holdings LLC

                            www.beneteau-group.com
Press information: Aurélie Gabrieli aurelie.gabrieli@consultants.publicis.fr
              Tel: +33 1 44 82 48 33 - Mobile: +33 6 07 04 22 48
                   Shareholder contact: Yannick Coicaud-Thomas
                       y.coicaud.thomas@beneteau-group.com
16 bd de la Mer - CS 43319 - 85803 Saint Gilles Croix de Vie Cedex - France

     BENETEAU Group - press release - Q3 2015 revenues - July 5, 2016

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BENETEAU (EPA:BEN) - BENETEAU : Revenues for the first nine months of 2015-16 - Solid growth confirmed

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