Groupe Beneteau reported companywide sales of $1.46 billion (€1.28 billion) for 2018, up 8.5 percent compared to the previous fiscal year.

The company said that its Boats division, which comprises 85 percent of total revenues, had sales of $1.24 billion (€1.09 billion), which represents a 9 percent gain over the previous year. The division reported that income from ordinary operations increased 6.9 percent to $83.4 million (€73.1 million) compared to the previous year. EBITDA was $154.1 million (€135.1 million), up 4.5 percent compared to the previous year.

statement noted that Groupe Beneteau invested $92.3 million (€81.3 million), with $48.4 million (€42.4 million) for product development. The company launched 38 new models across its 17 brands last year. Revenues for North American operations comprise 30 percent of global revenues, while Europe accounts for 48.5 percent.

The company said in its “goals for 2020” section that it wants to gain “leadership” in the powerboat category while retaining its “world-leading position” for sailboats. It forecasts revenues of $1.71 billion (€1.5 billion), with an aggregate cash position of $228 million to $285 million (€200 million to €250 million) for 2017-20.

“The Groupe has successfully met the challenge of growth while effectively serving all its customers, from leisure homes to boats,” CEO Herve Gastinel said in the statement. “To achieve this, we have had to recruit, train and integrate more than 500 permanent staff while ramping up production speeds in our facilities.”

Groupe Beneteau also acquired the Delphia and Seascape brands, while launching its digital platform, Band of Boats.