Beneteau - Back to normal after a string of records
After 3 years of records thanks to an extremely buoyant yachting market at the end of Covid, 2024 marks the end of the euphoria.Demand is normalising, leading to dealers destocking, and as a result, sales and earnings in 2024 will fall sharply, after peaking in 2023.Beneteau, which is more exposed to small units, is more affected than Catana and Fountaine Pajot, which have an order book and customer advances. For the time being, Trigano is not seeing a drop in demand either.Despite the expected fall in sales in 2024, Beneteau will remain largely profitable (with an MOC target of betweenBeneteau 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.
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