Here are the financial results of manufacturers related to the boating industry.

Here are the financial results of manufacturers related to the boating industry.

– Volvo Penta (stable)
– Nimbus Group (down 16%)
– Dometic (down 5%)
– Vision Marine (Canadian company showing growth)

Source: Publish in the TRADE ONLY TODAY publication by Gary Reich and David Conway.

Let’s begin with VOLVO PENTA

Volvo Penta Second-Quarter Results

The Volvo Group, parent company of Volvo Penta, announced its second fiscal quarter results last week. The group’s net sales increased by 3%.

According to a statement, Volvo Penta’s net sales, totaling SEK 5.4 billion (US$558.3 million), remained stable compared with the same quarter of the previous fiscal year. Engine sales declined slightly, but the service business recorded strong growth. Profitability was slightly lower than in the second quarter of 2025, impacted by lower volumes and higher costs. Nevertheless, Volvo Penta continues to deliver solid results, with an adjusted operating margin of 16.7%.

Net order intake increased by 13% to 9,457 units, while deliveries declined by 9% to 9,866 units. Organic sales growth remained flat, with the 4% decline in engine sales offset by a 12% increase in service sales.

“Looking ahead, we remain attentive and responsive to geopolitical developments, changes in trade policy, and the pace of the transition to zero-emission transport,” said Martin Lundstedt, President and CEO of the Volvo Group, in a statement. “We are gradually offsetting higher inflation-driven costs through disciplined business management and increased operational efficiency. Our flexible business model, strong order book, cost control, and the growth of our service business enable us to navigate this environment with confidence.”

NIMBUS GROUP

The Swedish motorboat manufacturer, the Nimbus Group, reported a profit in the second quarter despite a 16% decline in net sales. This performance was driven by cost reductions and improved margins, which offset weaker demand across its dealer network.

Net sales for the April–June period fell to SEK 479 million ($50 million), down from SEK 571 million ($59 million) a year earlier. Business-to-business sales declined in North America, Europe, and the Nordic countries. Retail sales remained stable. EBITA amounted to SEK 26 million ($2.7 million), virtually unchanged from the previous year. Higher gross margins and the effects of the company’s continuous performance improvement program offset the decline in volumes.

DOMETIC

Dometic reports its second-quarter results.

The Swedish company specializing in marine and outdoor equipment announced a 5% decline in its net sales compared with the previous year.

Dometic Group reported net sales of SEK 5.969 billion ($621 million) in the second quarter, down 5% compared with the same period last year. The decline was attributed to weak consumer confidence, stagnant boat registrations, and input cost inflation, which weighed on results across its global operations.

Organic growth declined by 1% during the quarter. The Stockholm-based company, which supplies cooling, heating, sanitation, stabilization, power supply, and electronics products to the marine, recreational vehicle, and outdoor sectors, reported net sales of SEK 21 billion ($2.3 billion) for the 2025 fiscal year. L

“We delivered a stable second quarter despite a challenging market environment and weakening consumer confidence, particularly in the United States,” said President and CEO Juan Vargues in a statement. “Against this backdrop, we remain focused on the factors we can control: growing our service and aftermarket businesses, implementing our global restructuring program, offsetting input cost inflation through price adjustments, investing in product innovation, and generating cash flow to reduce our net debt.”

Dometic said market conditions were more challenging than expected at the start of the season and that geopolitical developments in the Middle East had renewed uncertainty and consumer caution, affecting both distributors and manufacturers.

The marine and mobile cooling segments achieved organic growth during the quarter, and gross margin improved from 29.7% to 30.1%, driven by continued growth in the higher-margin service and aftermarket sales channel, as well as savings from the restructuring program.

The company did not provide guidance, but Mr. Vargues said, “Given the high level of uncertainty, we remain focused on what we can control, including implementing the global restructuring program and continuing to execute our strategy.”

VISION MARINE

Vision Marine Technologies announced last week revenue of $18.4 million for its third fiscal quarter, up approximately 27% from $14.5 million in the second quarter. Over the first nine months of fiscal 2026, revenue reached $48.6 million, compared with $0.4 million during the same period the previous year, an increase largely attributable to the acquisition of Nautical Ventures Group.

The company, which operates in Boisbriand, Quebec, and Fort Lauderdale, Florida, reported a gross profit of $11.8 million over the first nine months, representing a gross margin of 24.3%, compared with a gross loss during the same period of the previous fiscal year. Vision Marine recorded a net loss of $11.9 million over the nine-month period, including depreciation and financing costs related to the expansion of its operations, as well as an asset impairment associated with a former battery supplier undergoing liquidation.

“The third quarter reflects the progress we have made in revenue generation, working capital management, and capital efficiency,” said Vision CEO Alexandre Mongeon in a press release. He added that the company is developing an integrated platform connecting its E-Motion propulsion technology with marina infrastructure, services, and after-sales support, and that Vision remains focused on disciplined capital allocation to achieve profitability.

Operating cash flow totaled $2.4 million during the first nine months of the year, driven by disciplined working capital management and inventory reductions. Inventory declined by approximately 44% since August 31, 2025, to $20.7 million, while inventory financing fell by approximately 69% over the same period, to $10.2 million.

Chief Financial Officer Raffi Sossoyan added that these financial results demonstrate continued progress in commercial execution and working capital management. The company stated that it expects to require additional capital and highlighted risks, including the availability of financing and market conditions, in line with its public filings.

Conclusion.

These results are still acceptable given the current overall economic situation, which is not conducive to investment due to the Iran–United States armed conflict, the tariffs implemented by the White House that are creating considerable uncertainty, and a very significant increase in production costs for the boating industry.

However, at Ita Yachts Canada and its ProprioBateau division, we advise our clients so they can complete advantageous transactions, especially in the pre-owned boat market.

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