Beneteau : Q3 revenues close to expectations, 2023 targets confirmed, lower volumes expected in 2024 due to dealer destocking
>Q3 revenues close to expectations: € 315.6m vs € 321.7m estimated (consensus: € 332m) - For Q3, the Bénéteau group published virtually stable revenues at € 315.6m (-0.4% on a reported basis; +2.2% cc), close to our expectations, as we were expecting € 321.7m. Consensus was slightly higher at € 332m. By division, Q3 Boat revenues were up 2.2% on a reported basis at € 292.2m (ODDO BHF: € 300m; consensus: € 307m), driven by 15% growth in Sailing revenues, while Motor re...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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