BENETEAU (EPA:BEN) - 210511 BENETEAU 2021-Q1

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11/05/2021 17:40

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 EUR1,370m 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 EUR45m 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 EUR27.5m, 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 EUR1,370m, 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 (EUR286.5m, -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

Revenues at end-March and end-April 2021

                                              Change
EURm                 2021   2020                      Constant
                                   Reported data   exchange rates

1st quarter 2021
REVENUES            286.5  378.3       -24.3%         -22.9%
Boats               221.9  297.5       -25.4%         -23.7%
Housing              64.6   80.8         -20%           -20%
At April 30, 2021
REVENUES            413.5    433        -4.5%          -2.9%
Boats               328.2  338.3          -3%          -0.9%
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

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.

FY 2019-20 Group revenues: EUR 1334.4M

Sailboat  40.6%
Housing   14.4%
Motorboat 45.0%

CONTACTS - GROUPE BENETEAU

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

SHAREHOLDER CONTACT
Yannick Coicaud-Thomas
y.coicaud-thomas@beneteau-group.com
Address: 16 bd de la Mer - CS 43319
85803 Saint Gilles-Croix-de-Vie Cedex - France

www.beneteau-group.com

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