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Bénéteau: sales down 39% in Q1 2024

( - Group sales amounted to E229m in Q1 2024, down 39%, with a high comparison basis (+57% in Q1 2023).

Over and above base effects, this change in activity is mainly due to changes in dealer inventories.

The Sailing business proved resilient (-25%). The decline was concentrated on monohull sailboats, while sales of multihulls stabilized over the period, buoyed by the success of the EXCESS brand.

In this first quarter, which is not very representative given the seasonal nature of sales to yachtsmen, the Engine business is down 50% in 2024, after growth of 47% in Q1 2023.

The strategy of innovation and moving upmarket, as well as the industrial adaptation measures taken at the beginning of the year, enable the Boat division to maintain its current operating margin forecast between 7% and 10% of sales for 2024, it says.

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