Beneteau to industry: Never underinvest!

AMSTERDAM – Many builders and suppliers survive by the skin of their teeth, tethered to the ups and downs of the economy. For them, Beneteau Group CEO Herve Gastinel had words of wisdom at the 2018 METSTRADE Show: Don’t ever underinvest!

Gastinel said easing up on investing can be near-fatal as Beneteau discovered in 2008, the start a sustained global recession. In the past decade, he said in his keynote address, Beneteau has been plowing back up to €80m a year into its business operations to retain market position.

Today, Beneteau is in the midst of a corporate “Transform to Perform” strategy. By 2020, the company wants to grow twice as fast as the market, hike profits by 50% and manufacture half of its output in Europe, followed by North America (30%) and Asia 20% in Asia.

At the METSTRADE, he urged suppliers to put in bids to help Beneteau implement a “roadmap to innovation.” Today, 44% of Groupe Beneteau’s 200 models are less than three years old.