Beneteau: revenue up 11% to €449 million in first half, margin at breakeven
The Vendée-based shipbuilder published results on September 23, 2026 marked by revenue up 11% to €449 million and current operating income brought to breakeven at -€0.2 million.
This improvement of 5.1 percentage points compared to the previous ratio is driven by a €20 million turnaround on European brands, while the group has initiated the closure of its unprofitable industrial activities in the United States and order intake has declined since March due to the Middle East conflict.
Revenue at €449 million, net income still negative at -€21 million
In the first half of 2026, Beneteau recorded revenue of €449 million, up 11%. Current operating income stands at -€0.2 million (0.0% of revenue), improving by 5.1 percentage points compared to the comparable period.
Net income attributable to the group remains negative, at -€21 million, or -5.1% of revenue. Net cash stands at €202 million, while free cash flow comes in at -€24 million.
Growth was driven by retail sales, up 14% for the half-year, and by the success of 23 new models launched in 2025, which represented nearly 30% of the period's sales.
Turnaround of European brands and halt of American production
The group attributes the turnaround in its profitability to a €20 million improvement on its European brands and to the disengagement from activities deemed unprofitable in the United States. Production at the Cadillac site, which housed the FourWinns and Scarab brands, has been halted, with effective closure on July 31.
According to the press release, the bowrider and jet boat segments targeted by this withdrawal show structural decline and generated €30 million in cumulative operating losses over 2024-2025, to which are added -€9 million in the first half of 2026.
Beneteau further indicates that it outperformed its markets across all segments, with sales growth of 8% in Dayboating, 19% in Multihull and Monohull, and 3% in Motor Yachting.
Revenue expected between €860 and €900 million for 2026
For the 2026 fiscal year, the group forecasts revenue growth of 4% to 9% excluding the discontinued US activity, representing consolidated revenue expected between €860 million and €900 million. For comparison, 2025 fiscal year revenue had been €848.62 million.
Beneteau targets a return to profitability for the full year excluding the discontinued US activity, whose loss source is presented as eradicated at the end of June, for a cumulative operational impact of -€9 million for the year.
The group indicates that its order book deliverable over the fiscal year is now higher than 2025 sales. The next financial milestone is set for November 4, 2026 with the publication of third-quarter revenue.
