Brunswick Corporation reports record showing at Cannes Boat Show

Rhea-AI Summary

Brunswick Corporation (NYSE: BC) achieved a remarkable performance at the Cannes Boat Show, showcasing the new 600hp V12 Verado outboard engine, which significantly outperformed competitors with double the number of outboards on display. Sea Ray reported a 65% revenue increase compared to the 2019 show, with strong sales across other brands. CEO Dave Foulkes highlighted growing market acceptance in Europe and the positive response from customers regarding new products. The event solidified Brunswick's expanding market share in key boating regions.

Positive

• Mercury Marine showcased the 600hp V12 Verado, achieving double the outboard engine display compared to competitors.
• Sea Ray reported a 65% revenue increase compared to the 2019 Cannes Boat Show.
• Brunswick brands experienced strong customer interest and sales at the event.
• Growing market share in Europe for Mercury Marine and positive feedback on new products.

Negative

• None.

METTAWA, Ill., Sept. 14, 2021 (GLOBE NEWSWIRE) -- Brunswick Corporation (NYSE: BC) and its industry leading brands just completed a record showing at the Cannes Boat Show. Mercury Marine showcased its new 600hp V12 Verado for the first time in Europe and reported more than double the number of outboard engines at the show than its closest competitor and significantly more outboards on display during the six-day event than all other manufacturers combined.

In addition, Sea Ray reported a 65% increase in revenue vs. the 2019 show (2020 show was cancelled due to COVID-19) while all other Brunswick brands on display reported strong customer interest and sales. Freedom Boat Club also made its first appearance at an EMEA show since its announced expansion into the U.K. and Spain.

“Mercury’s market share and acceptance continues to grow quickly in our key European markets as a result of our industry-leading portfolio of propulsion systems,” said Dave Foulkes, Brunswick Corporation CEO. “The Cannes Boat Show is one of the most important European events for our brands, and the feedback from our channel partners and end-consumers on the new V12 and our new boat models has been extremely positive.”

Mercury continues to increase market share at major boat shows around the world. In November 2020, the company reported that for the third consecutive year, it had the most outboard engines of any manufacturer at the Ft. Lauderdale Boat Show, accounting for more than half of the total engines on display. In addition, Mercury displayed a record number of engines at the 2019 and 2020 Miami International Boat Shows (2021 was cancelled due to COVID-19).

“We heard from a number of independent boat builders in Europe who are excited at the prospect of building boats specifically for the new V12, which is consistent with the plans of many major OEM’s in the U.S.,” said Foulkes. “I am thrilled with the results from Cannes and our ability to connect safely with our customers as we continue to increase our sales and market share in one of the most important boating regions in the world.”

About Brunswick

Headquartered in Mettawa, Ill., Brunswick Corporation’s leading consumer brands include Mercury Marine outboard engines; Mercury MerCruiser sterndrive and inboard packages; Mercury global parts and accessories including propellers and SmartCraft electronics; Advanced Systems Group, which includes industry-leading brands like MotorGuide, Attwood, Mastervolt, Blue Sea Systems, CZone, and ASG Connect system integrators; Land ’N’ Sea, BLA, Payne’s Marine, Kellogg Marine, and Lankhorst Taselaar marine parts distribution; Mercury and Quicksilver parts and oils; Bayliner, Boston Whaler, Crestliner, Cypress Cay, Harris, Heyday, Lowe, Lund, Princecraft, Quicksilver, Rayglass, Sea Ray, Thunder Jet and Uttern boats; Boating Services Network, Freedom Boat Club and Boat Class.  For more information, visit brunswick.com.

FAQ

What were the highlights of Brunswick Corporation's participation in the Cannes Boat Show 2021?

Brunswick showcased its 600hp V12 Verado outboard engine, achieving a record display of outboards and a 65% revenue increase for Sea Ray compared to the 2019 show.

How did the Cannes Boat Show impact Brunswick Corporation's market share?

The show highlighted Brunswick's growing market share in Europe, particularly for its Mercury Marine brand.

What is the significance of the V12 Verado engine for Brunswick Corporation?

The V12 Verado engine represents Brunswick's innovation and competitiveness, contributing to increased market share and customer interest.

How did other Brunswick brands perform at the Cannes Boat Show?

Other Brunswick brands reported strong customer interest and sales during the event.

What was Brunswick's revenue performance at the Cannes Boat Show compared to previous years?

Sea Ray reported a 65% increase in revenue compared to the 2019 show, with all brands showing strong performance.