Beneteau : Production gradually picking up but poor visibility in 2020
>Mixed interim earnings: underlying operating profit -€ 8.7m vs -€ 3m estimated - For H1 (at end-February), the group published a mixed set of results. The key figures are as follows: Sales growth of +4.7% to € 519.4m, i.e. slightly higher than our forecast (+2% to € 505.9m). For the boats segment (+4.6%), this increase is mainly linked to charter companies, which represent 25% of boat sales over the period (€ 105.6m; +60.2%) while sales in Europe fell by 3.6% (€...Beneteau 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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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