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Bénéteau (BEN) investor relations material
Bénéteau Q4 2025 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Full-year revenues reached €848.6m, down 17% at constant currency, with a significant sales rebound in H2 2025 after a sharp H1 contraction.
Order intake increased 24% for the year, driven by 23 new model launches despite a challenging market.
Growth is expected to resume in 2026, supported by a strong order book and positive reception at major boat shows.
Financial highlights
H1 2025 revenues declined 27% at constant currency, while H2 saw only a 5% decrease, indicating a turnaround.
Q4 revenues were €274.2m, impacted by €20m in delayed US customs clearance; excluding this, sales would have been stable.
Positive operating cash flow was confirmed for the full year.
Outlook and guidance
2026 is expected to see a significant revenue increase, with stronger growth in H1.
The launch of 66 new models between 2025 and 2027 is set to drive further momentum and premiumization.
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