Brunswick Corp.’s Navico Group posted a heavy earnings loss in 2024, according to the company’s latest financial report. However, the group’s fourth-quarter sales improved to be down 0.6% from the fourth quarter of 2023.
Navico Group consists of marine and RV brands. RV brands within the group include Ancor, BEP, Blue Sea Systems, CZone, Fathom, Marinco, Mastervolt, Navico Connect, Progressive Industries, Relion and Whale.
Brunswick Corp. said fourth-quarter sales reflected softer marine OEM orders and a continued weak RV manufacturing environment. Aftermarket sales grew from the fourth quarter of 2023, with Brunswick saying the group’s new products were well-received.
“Navico Group continues to invest in market-leading technologies,” Brunswick Corp. said, “and expand its customer base for advanced integrated and connected solutions.”
Brunswick Corp. reported a $100.6 million loss for Navico Group in 2024 after posting a $5.2 million profit in 2023. Net sales for the year were down 12.5% to $800.2 million.
Navico Group’s restructuring, exit and impairment charges totaled $98.6 million for the year.
