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Bénéteau (BEN) investor relations material
Bénéteau Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q1 2026 revenues reached €169.5m, up 30% year-over-year, with growth across all business segments and a boost from deferred US deliveries at end-2025.
Retail sales grew over 10% in Q1, driven by the success of 2025 model launches and strong Motor segment performance.
Order book remains solid despite a slowdown in order intake due to Middle East conflict; full-year outlook maintained, contingent on geopolitical improvement.
Financial highlights
Q1 2026 revenues: €169.5m vs. €130.3m in Q1 2025 (+30.1% reported, +34.5% at constant currency).
Motor segment revenues up 38% reported, 45.2% at constant currency; Sailing up 18% reported, 18.6% at constant currency.
Deferred deliveries from Q4 2025 contributed nearly €20m to Q1 2026 revenues.
North & Central America revenues up 115% at constant currency, over 30% excluding deferred deliveries.
Outlook and guidance
Full-year sales growth outlook maintained, subject to improvement in Middle East situation by end of H1 2026.
Plans to launch 24 new models in 2026 to support demand.
Measures being implemented to support operating margins amid geopolitical uncertainty.
- Revenue and margins fell in 2025, but a strong order book signals a 2026 rebound.BEN
H2 202518 Mar 2026 - Sales rebounded in H2 2025, with 2026 growth expected on strong order intake and new models.BEN
Q4 2025 TU9 Feb 2026 - Order intake up 33% in Q3, with Motor sales rising 23% and Q4 revenues forecasted at €300m.BEN
Q3 2025 TU3 Nov 2025 - Revenue fell 27.5% and net loss reached €24.8M, but cash flow and liquidity remain robust.BEN
H1 202525 Sep 2025 - H1 2025 sales dropped 27%, but order growth and new launches signal a rebound in H2.BEN
H1 2025 TU28 Jul 2025 - Revenue and profit fell sharply, but margin guidance and innovation strategy remain on track.BEN
H1 202413 Jun 2025 - Boat revenues down 33% year-over-year, but 2024 guidance and margin targets reaffirmed.BEN
Q3 2024 TU13 Jun 2025 - Boat division revenues fell 32% in H1 2024, with premiumization offsetting volume declines.BEN
H1 2024 TU13 Jun 2025 - Q1 2025 revenue fell 43%, with recovery expected in H2 as new models launch.BEN
Q1 20256 Jun 2025
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