Groupe Beneteau has reported first-half 2026 revenues of €452.3m, up 12 per cent compared with the same period in 2025, or 13.8 per cent at constant currency.
Second-quarter revenues increased by 3.4 per cent to €282.7m as dealers continued to manage inventory cautiously amid ongoing market uncertainty.
Retail sell-out sales rose by nearly 15 per cent in the second quarter, continuing the trend seen during the first three months of the year. The group said sales outperformed the market across all segments, while inventory across its distribution network was reduced by nearly €40m during the quarter.
Cautious management of inventory by dealers
“The first half of the year highlights the relevance of our product strategy: retail sales delivered double-digit growth and outperformed the market across every segment,” says Bruno Thivoyon, Groupe Beneteau chief executive. “This dynamic performance confirms the success of the models launched in 2025, which accounted for nearly one third of our first-half sales this year.
“However, the ongoing conflict in the Middle East during the second quarter prolonged the wait-and-see approach adopted by some boat users, as well as the cautious management of inventory by dealers.
“We are moving into the 2026/2027 season with a plan to launch 24 new models, designed to support our robust commercial development from the Cannes Boat Show in September. The group is therefore still fully committed to delivering growth over the full year.”
The group’s first-half performance was also influenced by comparisons with 2025, when the rollout of a new ERP system at the Bordeaux site affected revenues by nearly €20m. The positive impact from delivery timing in the US was offset by the normalisation of inventory levels across the distribution network over the past 12 months.
Growth recorded across sailing and motor, Asian demand down
The sailing business reported first-half revenue growth of 10.6 per cent. Monohull sailing revenue increased by 19 per cent, supported by updates to Beneteau’s Oceanis range and Jeanneau’s Sun Odyssey range, along with increased market share, particularly among charter companies.
Multihull sailing revenue increased by 8 per cent in a contracting market. The result reflected the impact of the previous year’s ERP migration at the Bordeaux site, as well as market share gains in the entry-level segment with Lagoon 38 and continued demand for premium models such as Lagoon 82.
The motor business recorded revenue growth of 11 per cent, or 13.8 per cent at constant currency. Dayboating sales increased by 19 per cent, driven by the Beneteau, Jeanneau and Wellcraft brands, despite a 23 per cent decline in sales from the three American brands currently being divested.
Demand slows in motor yachting
Within motor yachting, demand slowed due to broader economic conditions and increased promotional activity. The renewal of Beneteau’s Gran Turismo range, developed in partnership with Alpine, and new Prestige models helped stabilise sales, which increased by 3 per cent over the period.
By region, Europe generated first-half revenue growth of 14.5 per cent to €289.3m, supported by new models launched in 2025, particularly in the dayboating and monohull sailing segments.
North and Central America recorded revenue growth of 37.4 per cent to €122.7m, including nearly €20m related to deliveries deferred from the fourth quarter of 2025. Excluding this effect, the region grew by nearly 14 per cent.
Revenue from other regions declined by 49.1 per cent, mainly due to cautious purchasing decisions among motor yachting customers and weaker demand in Asia. Fleet sales decreased by 11.8 per cent, with lower demand from charter companies for multihull sailing models partly offset by gains in market share.
Production capacity adjustments
Groupe Beneteau announced on 15 June 2026 that it would end production at its Cadillac site in Michigan during the third quarter of 2026, resulting in around 230 layoffs. The group also announced plans to divest the site and the Four Winns, Glastron and Scarab Jet brands.
The activities involved represented less than 5 per cent of consolidated revenue in 2025. The decision follows continued weakness in the bowrider and jet boat segments, combined with the impact of geopolitical uncertainty. The three American brands recorded combined operating losses of nearly €30m in 2024-2025.
The group said the move will allow it to focus resources on its seven strategic brands while maintaining its position in the US market. These brands recorded 29 per cent growth in the first half of 2026.
Full-year outlook
Groupe Beneteau says uncertainty linked to the conflict in the Middle East continues to affect recreational boating demand and dealer inventory decisions. The group reports a “marked contraction” in order intake since March 2026, although its order book for deliveries during the year showed a slight year-on-year increase at the end of June, excluding the American brands subject to divestment.
Groupe Beneteau plans to introduce 24 new models for the 2026/2027 boat season, beginning with the 2026 Cannes Boat Show in September.
Groupe Beneteau will publish its first-half 2026 earnings on 23 September after market close.
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