Some financial results of selected new boat manufacturers (America and Europe) for the periods ending July 2025
Some results do not take into account the tariffs that have been in place for only a few days (or weeks) in the United States.
These are the manufacturers’ results, meaning sales of NEW BOATS to dealers. This has nothing to do with the sale of used boats, which, given the prices, are a plan B for many boaters in purchasing mode.
An example of a tariff with serious consequences is South Africa, which is now hit with a 30% tariff. It’s the catamarans from the Robinson & Caine company (Leopard) that will most likely see a fairly sharp drop in orders from the United States.
And what about boats from Brazil? Tariffs of more than 50% are on them (for the Okean and Shaefer brands).
Here is a brief overview of the financial results for the companies listed on the stock exchange.
N.B. Data taken from the TRADE ONLY TODAY website (by David Conway and Gary Reich) for the following companies:
– Beneteau Group (including Jeanneau, Prestige, and Lagoon)
– Brunswick Corporation (a major American group)
– Yamaha Corp. – Polaris Corporation (Bennington, Godfrey,
Hurricane)
– Marine Products Corp. (Chaparral and Robalo)
BENETEAU GROUP releases financial results
Second quarter sales contracted by 16% at the France-based builder.
- July 28, 2025
Including : Beneteau, Jeanneau, Prestige, Lagoon, Four Winns, Scarab, Wellcraft, Delphia, Excess
Groupe Beneteau’s second quarter boat sales totaled €273.5 million ($321 million), down 16% at constant exchange rates, compared with being down 43% in the first quarter. Revenues for the first half of the year came to €403.8 million ($474 million) compared with €556.6 million ($653 million) for the first half of 2024.
“As expected, the group’s business during the first half of this year was affected by a context of geopolitical uncertainty,” CEO Bruno Thivoyon said in a statement.“The adaptation measures rolled out over the past 18 months have helped maintain a very solid net cash position of over €250 million ($293 million) at the end of June, while securing our capacity to bounce back over the short and medium term. The commercial success of our new models helped drive an increase in orders during the first half of this year.”
For the company’s Motor segment, first-half sales totaled €219 million ($258 million), down 20%. The weakness of the markets was partially offset by an upturn in the American brands (plus-47%) and the robust sales performance achieved by Prestige’s M-Line power catamaran range.
In the Sailing segment, sales were down 36%, significantly impacted by a slowdown in fleet deliveries to charter professionals (minus-55%) and by the wait-and-see approach seen across monohulls (minus-46%). In the last quarter, sales of multihull sailboats slowed 23%.
In its future outlook, Groupe Beneteau said that “despite an uncertain environment, particularly regarding tariffs on imports to the United States, the commercial success of the new models from each brand, combined with the measures taken to support their dealer networks, enabled the group to record more orders over the first half of 2025 than during the same period in the previous two years.”
The company added that 20 models are set to debut at the autumn boat shows, and that it expects to resume growth in sales in the second half of 2025, while inventory levels within the distribution networks have normalized.
BRUNSWICK Reports Quarterly Financials
The company posted $1.45 billion in net sales during the second quarter, a 0.2% decline from the previous year.
- By Gary Reich
- July 24, 2025
- Brunswick Corp. this morning released its second quarter financial results.
- The company reported $1.45 billion in net sales during the period, a 0.2% decline from the previous-year quarter. Operating earnings slid 37.7% to $103.3 million, and operating margin was 7.1%, down from 8.7% a year ago.
- The company generated $288 million of free cash in the quarter, a record for any second quarter in Brunswick’s history. This resulted in a record first-half free cash flow of $244 million, a $279 million improvement versus the first half of 2024.“Brunswick delivered strong second quarter results, as the power of our market-leading products and brands, efficient operational execution and cost control, continued prudent pipeline inventory management, and the benefits from the resilient, recurring, aftermarket-focused portions of our portfolio resulted in second quarter financial performance ahead of expectations,” chairman and CEO David Foulkes said in a statement.“This was despite the challenging macro environment and uncooperative weather in many parts of the U.S. through the first two months of the quarter.”
YAMAHA Releases First Half 2025 Results
Marine products revenue was ¥280 billion ($1.8 billion), down 5.9% from the same period of the previous fiscal year.
- By David Conway
- August 6, 2025
Yamaha Motor released financial results for the first half of 2025. For the six months ended June 30, revenue was ¥1,300 billion ($8.2 billion), down 5.2% compared to the same period the year before. Operating income was ¥84.1 billion ($542 million), a decrease of 45.4% from that period. Net income was ¥53.1 billion ($342.6 million), a decrease of 52.9%.
Revenues in the Marine Products segment were ¥280 billion ($1.8 billion), down 5.9% from the same period of the previous fiscal year. Operating income was ¥38.9 billion ($251 million), down by 26.5% from the same period a year before.
The company’s statement said: “Demand for outboard motors in the Company’s main market of the U.S. was lower. However, overall unit sales were on par with the previous year due to a rush of demand prior to the implementation of price changes in the U.S., primarily for small and midrange outboard models. Regarding personal watercraft, there was a decrease in demand in the main market of the U.S., which resulted in a year-on-year decrease in unit sales. As a result, the Marine Products business as a whole took in lower revenue. As for operating income, the lower unit sales of personal watercraft and higher procurement expenses, along with an increase in R&D expenses and an increase in labor costs and other SG&A expenses led to a decrease in profits.”
POLARIS Releases Quarterly Financial Results
Overall second quarter sales were down 6%, but the marine segment posted a 16% increase.
Polaris Industries, parent to the Bennington, Godfrey and Hurricane brands, yesterday announced its second quarter financial results.
Overall sales were down 6% from the year-ago quarter to $1.85 billion, largely due to lower volume, reduced shipments, negative product mix and lower net pricing driven by higher promotional spend. Gross profit margin was 19.4%, down 223 basis points year-over-year.
The marine segment was a bright spot, with sales of $155.3 million, a 16% increase from the prior-year period. In a statement, the Polaris said increase was driven by increased volumes.
“Amid a global macroeconomic environment that remains dynamic, the Polaris team has maintained an unwavering focus on advancing our strategy and delivering for customers and dealers,” CEO Mike Speetzen said in the statement. “Polaris’ second quarter performance is the result of our disciplined execution. There are many successes in the quarter to celebrate, such as revenue exceeding our expectations, gaining market share, achieving our highest second quarter operating cash flow in over five years, and surpassing prepandemic benchmarks in plant efficiency through our lean efforts.”
The company’s guidance for the third quarter includes sales of $1.6 billion to $1.8 billion.
ROBALO & CHAPARRAL
Marine Products Corp., parent to the Robalo and Chaparral brands, yesterday announced its second quarter financial results.
Net sales were down 3% year-over-year to $67.7 million. Net income was $4.2 million, down 25% from the year-ago quarter. Earnings before taxes, depreciation and amortization was $5.6 million, down 13%. The company reported operating cash flow of $50.2 million with no debt.
“Tariffs and macro risks remain top of mind, with dealers and retail consumers remaining cautious overall,” CEO Ben M. Palmer said in a statement. “Thus far, supplier cost increases have been manageable, alleviating the concern that the 2026 model year pricing would be up significantly, but risks still persist as tariff policies continue to evolve. The interest rate outlook continues to be cloudy, although there are market expectations for rate cuts later this year.”
The company did not provide financial guidance for the remainder of 2025.
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