BENETEAU (EPA:BEN) - BENETEAU : transatlantic trade conditions

Transparency directive : regulatory news

28/06/2018 20:38

Financial press release - June 28, 2018

            Transatlantic trade conditions for the boating industry

Groupe Beneteau's Boat Division has a portfolio of 10 boat brands including 4
American brands - Four Winns, Glastron, Wellcraft and Scarab - that are built
in Cadillac, Michigan (USA).

The US trade policy sparked from its major trading partners, namely the
European Union and Canada, the adoption of rebalancing measures on a number of
products manufactured in the United States, including recreational craft.

The European and Canadian tariffs are 25% and 10% respectively. They have come
into effect on June 22nd for products exported to the EU and will be effective
July 1st for products exported to Canada.

The rapid adoption of US measures followed by retaliation measures fueled
strong reactions from the EU and US industry associations as well as some
heated statements on the potential consequences.

The Group is carefully evaluating the impact of these measures that should have
a limited effect on the current fiscal year. All the more so, over the last
three years, as the Group implemented a strategy for these brands to gain
market share in their core market, i.e. the United States. In addition to new
product development, dealer development in underserved markets has been
intensified. Over the last 3 quarters, all 4 American brands thus gained market
share in the US.

The next announcement is scheduled for July 10, 2018, when revenues for the
first nine months of FY 2017-18 will be reported.

FINANCIAL GLOSSARY

At constant exchange rates: average rate for the previous reporting period.

EBITDA: earnings before interest, taxes, depreciation and amortization, i.e.
operating income restated for allocation / reversal of provisions for
liabilities and charges and depreciation charges.

Free cash flow: cash generated by the company during the reporting period
before dividend payments and changes in treasury stock.

Net cash: cash and cash equivalents after deducting financial debt and
borrowings.

ABOUT GROUPE BENETEAU

As the boating industry's global market leader, Groupe Beneteau, through its
Boat division's 10 brands, offers over 200 recreational boat models serving its
customers' diverse navigational needs and uses, from sailing to motorboating,
monohulls and catamarans.
Leading the European leisure homes market, the three brands from the Group's
Housing division offer a comprehensive range of leisure homes, lodges and pods
that combine eco-design with high standards of quality, comfort and
practicality.
With its international industrial capabilities and global sales network,
the Group employs 7,000 people, primarily in France, the US, Poland, Italy and
China.

CONTACTS GROUPE BENETEA

FY 2016-2017: EUR 1208.3 M

Housing      15.0%
Sailboat     37.5%
Motorboat    47.5%

INVESTORS AND PRESS CONTACT
Mirna CIENIEWICZ
m.cieniewicz@beneteau-group.com
Tel +33 / (0)2 51 26 88 50

SHAREHOLDER CONTACT
Yannick COICAUD-THOMAS
y.coicaud.thomas@beneteau-group.com
Address : 16 bd de la Mer - CS 43319
85803 Saint Gilles-Croix-de-Vie Cedex - France

www.beneteau-group.com

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