July 9 2020
This strategic plan, which we present to you in Yachting Art English Edition for the Boat sector, materializes the strategy imagined by the group's new CEO, Jérôme de Metz.
The 4 main directions announced by Groupe Bénéteau in the yachting sector are as follows:
At this press conference, Jérôme de Metz stressed that Groupe Bénéteau wants to be a pioneer in sustainable yachting. Hybrid and electric engines are expected to enhance the Group's brands' offer. In this respect, the Océanis 30.1, the youngest in the Bénéteau sailing yacht range, would be the Group's first boat to offer a 100% electric version.
The Let's Go Beyond plan also envisages, in the long term, broadening Groupe Bénéteau's portfolio of activities towards services, in synergy with its distribution networks. A large part of future investments will be directed towards the digitalization of its activities (Band of Boats transaction platform, CRM, configurator, connected boats, etc.) and processes (ERP, etc.).
Until now, Groupe Bénéteau has had a portfolio of 12 brands of pleasure boats, comprising 180 models, ranging from 14-foot (Bénéteau First 14) to 105-foot (Monte Carlo Yachts 105).
The implementation of the Let's Go Beyond plan will rely on a brand house, in charge of 8 global brands, i.e. 4 leading brands, and 4 brands with strong development potential :
Groupe Bénéteau's repositioning on 8 global brands will lead it to sell or manage in joint venture 4 brands, some of which it has owned for decades :
The first phase of the plan is part of a market environment shaken by the crisis following Covid-19
The post-Covid 19 crisis opens a new economic cycle. In a first period, over 2020 and 2021, the strong decline in global activity is observed and will affect the yachting market. It should be followed by a clear recovery, the extent of which will depend on the speed at which the health crisis is resolved.
With more than €600 million in shareholders' equity at 28/02/2020, €300 million in confirmed and undrawn credit lines, to which will be added a €120 million State-guaranteed loan, and a lack of net debt, Groupe Bénéteau announces that it is preparing to face variations in volumes, both downward and upward, which could reach amplitudes comparable to those of the 2008-2009 crisis.
With this in mind, it plans to significantly reduce its production capacities over the coming months, in parallel with a reduction in all its fixed costs. Discussions have been initiated with the social partners, both in France and abroad.