Beneteau - A “value” stock with a speculative dimension
The Group has outperformed its 2023 sales forecast, enabling it to marginally raise its earnings forecasts, which will be the best in its history.Performance will worsen significantly in 2024/25 after a stratospheric year, but we had already partially factored in this scenario, and the market had already sanctioned the stock last October.A valuation worthy of the 2008/09 crisis, even though the Group is more resilient and will continue to generate results and cash.Refocusing on its nautical activities will make the Group an attractive pure player for major players, while the question of family succession remains open.A stock to have inBeneteau designs, manufactures and sells yachts and powerboats through an international network of dealers. Co. also designs, manufactures and sells mobile homes. Its operations can be divided into two segments: The Boats segment and the Leisure Homes segment. The Boats segment groups together the activities for manufacturing and marketing boats with a customer base made up of dealers; The Leisure Homes segment groups together the activities for manufacturing and marketing mobile homes with a customer base made up of campsites and wholesalers, and the the activities for manufacturing and marketing wood-frame houses. Some of Co.'s brands are Beneteau, Jeanneau, CNB, IRM and O'Hara.
We are an investment house with Belgian roots founded on more than 150 years of trust.
As a private company owned by long-term committed shareholders, we are independent. Naturally and structurally. Our experts have the knowledge to think and act without bias, and to make decisions that benefit our clients. Today and tomorrow.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.