Beneteau: Revenue Up by 30% in Q1, But Order Intake Slows
Beneteau reports a revenue of 169.5 million euros in the first quarter of 2026, a 30% increase compared to the same period last year. This growth is driven by sales of new models launched in 2025 and nearly 20 million euros in delayed deliveries to the United States. However, since the onset of the conflict in the Middle East in March, the group has observed a significant slowdown in order intake. Although the deliverable order book for the year is still up nearly 10%, Beneteau's annual growth is contingent on an improvement in the geopolitical situation before the end of the first half.
All Segments on the Rise, Driven by Engines and the United States
The Sailing segment's revenue increased by 18.6% at constant exchange rates, driven by the new monohull and multihull models launched in 2025, as well as by a recovery in sales to professional charter companies (up 22% in Q1). The Engine segment showed strong growth of 45.2% at constant exchange rates; excluding the favorable impact of delayed deliveries in the United States, the growth rate is 26%. Geographically, North and Central America recorded a rise of 110.3% at constant exchange rates, largely impacted by this shift in deliveries. Excluding this effect, sales in this region grew by more than 30%. Europe posted a growth of 16% at constant exchange rates. The Fleet segment grew by 22%.
Retail Sales Flourishing, But Margins Threatened by Conflict
Sales to end customers increased by more than 20 million euros, representing a growth of over 10% in Q1. This momentum confirms the commercial success of the new products launched in 2025 in a challenging macroeconomic context. The group plans to continue this strategy with the launch of 24 new models in 2026. Concurrently, the group reports a marked slowdown in order intake since the start of the conflict in the Middle East. In response to this impact on operational margins, Beneteau is already implementing measures to improve its profitability.
Electrification of Sailboats and Conditional Outlook
Beneteau has announced the creation of E-LEKTRA MARINE, a joint venture with Fountaine Pajot bringing together seven brands representing nearly 60% of the sailboat market. The goal is to standardize electric and hybrid propulsion solutions, aiming for 10% to 15% adoption of electric by 2030. The order book deliverable in 2026 remains strong with a nearly 10% increase at constant exchange rates by the end of April. Based on this, the group maintains its outlook for significant growth for the full year, subject to an improvement in the situation in the Middle East before the end of the first half.
