BENETEAU (EPA:BEN) - 200204 BENETEAU Outlook 2019-20

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04/02/2020 17:40

Press release - February 4, 2020

                              Outlook for 2019-20

- Consolidated revenue growth of 2% to 4% (reported data)
- Group EBITDA expected to increase by 4% to 6%
- Group income from ordinary operations stable vs 2018-19 based on reported
  data
- Improvement expected for free cash flow

Groupe Beneteau is presenting its full-year outlook for 2019-20.

Boat Division

The robust trends on the European and fleet markets are making it possible to
offset the slowdown, already seen in 2019, on the North American and Rest of
the World markets.

The order book at January 31, 2020, deliverable during the year, is up 2.1% on
a reported basis compared with the previous year. This increase reflects the
growth observed on the sailing segment, mitigating the slowdown on the
motorboat segment in North America.

The Boat Division's full-year revenue growth, with 2% to 4% expected on a
reported basis, will be driven by the good level of the European market, the
positive development of sales with charter companies and the healthy position
of our multihull business (Lagoon and Excess).

Housing Division

The French and export markets for leisure homes have returned to growth and
show a slight increase.

Taking into account the current level of the order book, the Housing Division
expects its full-year revenues to also increase by 2% to 4% on a reported
basis, thanks to higher volumes and a favorable product mix.

Consolidated outlook for FY 2019-20

At Group level, revenue growth is expected to come in at 2% to 4% (based on
reported data and at constant exchange rates).

EBITDA(1) growth is expected to reach 4% to 6% on a reported basis, benefiting
from a stronger level of activity, an improvement in production site efficiency
and a more effective overhead cost control. The previous year was marked by
unfavorable non-recurring items.

The rate of income from ordinary operations is expected to be stable on a
reported basis, reflecting the continued increase in depreciation charges
relating to the recent launches.

The level of free cash flow is expected to increase compared with the previous
year, linked to an improvement in working capital requirements, while
maintaining our investments.

                                   *

                                 *   *

The next financial announcement is scheduled for April 29, 2020 with the
Capital Market Day held in Paris to present the Group's new strategic plan and
medium-term objectives. The Group's 2019-20 half-year earnings will be released
on the same day.

                           FINANCIAL GLOSSARY

At constant exchange rates: average rate for the previous reporting period.

EBITDA: Earnings before interest, taxes, depreciation and amortization, i.e.
operating income restated for allocation / reversal of provisions for
liabilities and charges, depreciation charges and IFRS restatements (bonus
share plans, retirement benefits). See details in point 3 - Financial Structure
of the Board of Directors' Management Report, 2018-19 Financial Report (page
15).

(1) See the financial glossary for the definition of EBITDA

                         ABOUT GROUPE BENETEAU

As the boating industry's global market leader, Groupe Beneteau, through its
Boat Division's 12 brands, offers over 200 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 8,200 people, primarily in France, the US, Poland, Italy and
China.

FY 2018-19 Group revenues: EUR 1336.2M

Sailboat   39.8%
Housing    14.4%
Motorboat  45.8%

                          CONTACTS - GROUPE BENETEAU

INVESTORS AND PRESS CONTACT
Mirna CIENIEWICZ
m.cieniewicz@beneteau-group.com
Tel +33 / (0)2 51 26 21 25

SHAREHOLDERS CONTACT
Yannick COICAUD-THOMAS
y.coicaud-thomas@beneteau-group.com
Adresse : 16 bd de la Mer - CS 43319
85803 Saint Gilles-Croix-de-Vie Cedex (France)

                      www.beneteau-group.com

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