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JUNE 2023
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GROUP BENETEAU RAISES ITS FORECAST
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Groupe Beneteau is raising its forecast having maintained its growth during the first quarter of 2023, with revenues of €478m, up 51% from 2022. The Boat division generated revenues of €375m during the first quarter, up 57%, in particular due to an improvement in sourcing conditions. The Group’s Sailing business was up 81% for the quarter, benefiting from increased operations rolled out in 2022, and demand from charter professionals (+83%). The Motor business was up 47%, with consistent growth across the Dayboating and Real Estate on the Water segments. The Boat division saw US sales rise by 67% while the Housing division’s revenues totalled €103m, up 31%
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8 Group Beneteau’s Motor business was up 47%
from the first quarter of 2022.vThe Group has entered negotiations regarding the sale of its Housing business. The forecast for the Boat division for the full year has now been raised to €1,450m – previously €1,360m with a predicted operating margin of 11%. This is possible due to improved sourcing conditions and a solid order book. On a like-for-like basis, the Group’s income from ordinary operations is expected to reach €190m (vs. €170m previously), with growth of over 22% versus 2022.
Obituary: Buddy Melges Harry ‘Buddy’ Melges Jr. has died at the age of 93. Buddy grew up in Wisconsin, America. The son of Melges Boat Works’ founder Harry Sr, Buddy perfected his sailing skills sailing the boats developed by his father, helping the business evolve from a wooden rowboat builder to one that built top-performance hulls and sails. Over time, he established a collection of championship titles and Olympic medals. Over his sailing career, he has won more than 60 major national and international sailing championships but is perhaps most widely recognised for his America’s Cup accomplishments.
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Among the 1987 America’s Cup Challengers, he represented the Chicago Yacht Club at the helm of Heart of America and raced against Dennis Conner, sailing Stars & Stripes. Although he did not win, he was described at the time as ‘one of the greatest sailors in the world’. In 1992, Buddy captured the America’s Cup on America3 alongside Bill Koch. Buddy was inducted into the ISAF Sailing Hall of Fame in November 2015, joining other sailing legends such as Dame Ellen Macarthur, Paul Elvström, Barbara Kendall, Eric Tabarly and Sir Robin Knox-Johnston. ISAF, now known as World Sailing, is sailing governing’s body. Buddy is survived by his wife Gloria, daughter, Laura, and sons, Harry and Hans. Harry is currently in charge of managing the company.
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