Financial statements of certain recreational boat manufacturers or companies related to the boating industry.
Boaters often ask us about the boat market, both buying and selling. In these rather turbulent times, it’s always difficult to predict several months ahead.
Regarding new boat sales, pontoon boats and fishing boats are holding up fairly well. But since dealer inventories are very high, there are some good deals to be had.
For boats priced at $200,000 and above, sales are slowing down. The large Beneteau Group provides a good indication of this. A very significant decrease is projected for 2025 (-17%), based on the performance of 2024, which was also not very good.
The Beneteau Group has a strong presence in North America and Canada through its Beneteau, Jeanneau, and Prestige dealerships.
It must be said that boat financing is currently difficult to obtain from financial institutions.
Furthermore, new boat prices have increased considerably, which is discouraging many potential buyers.
However, there are some quite attractive used boats available, particularly in the American market, especially those that are recent (less than 10 years old) and very recent (less than 5 years old).
Let’s just say that negotiation is key.
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Manufacturers have, one might say, slowed down the development of new models, especially those over 60 feet, due to a lack of potential buyers and also because of the low interest in boat shows.
But the Beneteau Group is somewhat of an exception, with a number of new models planned for 2026-2027. Let’s hope the expected results materialize.
In short, you need to know the market well to come out on top. An experienced advisor (broker) is key to helping you make an excellent selection based on your criteria and to closing a deal that’s clearly in your favor.
One piece of advice: avoid impulsive decisions and slow down any hasty purchases. There are so many choices and features on the market; you need to think carefully before making any purchase decision. Yes, a seller will present their boat highlighting its advantages, but an independent advisor will give you a complete picture of each model, its pros and cons, and above all, will consider its resale value in a few years. Will this boat age well? Does it have the right options, excellent engine performance, etc.?
Here are the financial results of the Beneteau Group, which owns the Jeanneau (sails and motors), Beneteau (sails and motors), Lagoon catamarans, and the Prestige, Four Winns, Scarab, Delphia, CNB, Monte Carlo, Glastron, and Excess brands.
This large group gives us a good overview of the boat market, especially for boats under 70 feet.
Beneteau Group Financial Statements
In its latest financial report, the Beneteau Group announced revenues of €849 million ($1 billion) for fiscal year 2025, a decrease of 17.1% at constant exchange rates compared to the €1.034 billion ($1.23 billion) recorded in 2024.
This decline is attributed to the continued macroeconomic uncertainties in the global boating market. However, the company indicated that its sales improved significantly in the second half of the year, with revenues down 5.2% at constant exchange rates, compared to a 27.3% drop in the first half.
“In a challenging market environment, our strategy of accelerating product launches has paid off,” stated Bruno Thivoyon, CEO of the Group, in the report.
Beneteau also reported a 24% increase in orders for the year, driven by the launch of 23 new models. The Group anticipates a return to growth in 2026, with stronger gains in the first half of the year.
Fourth-quarter revenue totaled €274.2 million ($326 million), down 6.5% at constant exchange rates. The company attributes this decline, amounting to approximately €20 million ($23.6 million), to customs clearance delays in the United States. Excluding the impact of these delays, sales would have remained stable at constant exchange rates, thus confirming its analysis of a recovery in business during the second half of the year.
By segment, the sailing boat segment recorded annual revenue of €362.8 million ($428 million), down 26.6% at constant exchange rates. However, second-half performance improved thanks to the success of new models. The powerboat segment generated €456.4 million ($538 million), down 9.8% at constant exchange rates for the year, but returned to growth in the second half, with revenue up 1% at constant exchange rates.
The press release mentions an “ongoing recovery in Europe and a rebound in sales for American brands.”
“Despite a still uncertain macroeconomic environment, the group observed encouraging signs at trade shows, particularly the Paris Boat Show and Boot Düsseldorf, where sales again increased significantly compared to previous seasons,” the press release states. “The strategy to accelerate the launch of 66 new models between 2025 and 2027 is paying off.”
From an article on TRADEONLYTODAY
By David Conway
Editor-in-Chief David Conway has been writing about the news and issues in the watersports industry for over 20 years. He is the author of *Fishing Key West & the Lower Keys* and also contributes to *Saltwater Sportsman*, a Firecrown publication.
And here are the results from a major manufacturer of (sport) boats, wakeboards, skis, etc.
A few years ago, this sector of the boating industry was still thriving, with very favorable sales figures for the American market.
The best-known manufacturers in this sector are primarily:
Nautique, Mastercraft, Supra, Moomba, Tige, and of course, Malibu.
Malibu Releases Quarterly Results
Second-quarter net revenue totaled $188.6 million, down 5.8% year-over-year.
Source: by David Conway, Tradeonlytoday
February 6, 2026
Malibu Boats released its second-quarter results yesterday, reporting net revenue of $188.6 million, a 5.8% year-over-year decrease. Gross margin was 13.3%, down 540 basis points, due to “reduced fixed costs across all segments, driven by lower sales and higher unit labor and raw material costs,” the company stated.
The company posted a net loss attributable to Malibu Boats of $2.46 million in the second quarter, compared to a net profit of $2.36 million a year earlier. Excluding exceptional items, the company recorded a loss of $0.02 per share for the quarter, compared to a profit of $0.32 per share a year earlier.
“The retail sector remained volatile, in line with expectations, while the first boat shows and the Malibu and Axis year-end sales generated positive results,” the statement said.
Results of a major engine manufacturer: YAMAHA
The marine segment saw a 2% decrease in revenue compared to the previous year.
Source: by Gary Reich, Tradeonlytoday
February 17, 2026
Yamaha Motor Co., the parent company of Yamaha’s U.S. marine division, announced its financial results for fiscal year 2025.
Annual revenue totaled 2.58 trillion yen ($16.85 billion), a 2% decrease compared to the previous year. Operating profit amounted to 181.5 billion yen ($825.6 million), a decrease of 30% compared to the previous year, and net profit amounted to 16.1 billion yen ($105.15 million), compared to 108.1 billion yen ($706 million) the previous year.
The company cited tariffs as one of the reasons for these declines, noting that it had already paid 54.3 billion yen ($354.7 million) in tariffs in 2026, compared to 17.1 billion yen ($111.6 million) for the entire year of 2025.
The maritime segment recorded revenue of 527.6 billion yen ($3.45 billion), down 2% year-over-year, and operating profit of 53.6 billion yen ($350 million), down 39%.
According to a press release, “Unit sales and revenue remained stable compared to last year, but [operating profit] declined due to higher general and administrative expenses, including procurement costs and R&D expenditures.”
For fiscal year 2026, Yamaha forecasts a 5% increase in marine segment revenue and a 14% increase in operating profit.
Source: Gary Reich is editor-in-chief of Soundings Trade Only and a lifelong boating and fishing enthusiast. He works in the marine industry.
Conclusion
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