In a statement posted this morning, Italy’s Azimut-Benetti Group says it expects to close the 2024/2025 nautical season with revenues of €1.5bn, a 15 per cent increase compared with the previous year. The company reports an order backlog of €2.5bn, extending into 2029.
The group identifies three main areas driving performance in the face of a broader market slowdown. These are investments of €115m in infrastructure across its Italian facilities, the development of new product categories to broaden its high-end offering, and expansion in international markets.
The group has outlined ongoing infrastructure investment between 2024 and 2027. This includes the recent renovation of Azimut’s Avigliana headquarters to build yachts up to 28m, and expanding capacity at refit and repair division Lusben. The group has also established two new centres: the Light Steel Hub for steel work on boats under 45m and the Composite Hub in Tuscany, specialising in fibreglass and carbon fibre for megayachts. These join the group’s existing facilities at Avigliana.
The infrastructure investment plan covers all Azimut-Benetti Group sites in Italy and is worth a total of €115m over the period 2024-2027.
The group reports a geographically balanced order portfolio, with 38 per cent in Europe, 31 per cent in the Americas and 31 per cent in EMEA-APAC. It highlights growth in the Middle East, with sales exceeding €300m in Saudi Arabia over the past two years and new offices opening in Gedda and Riyadh.
Further initiatives include boutiques in Palma de Mallorca, Monaco and Fort Lauderdale, and a Benetti showroom near the Monaco Yacht Club.
Product innovation is a focus for the coming years, with Azimut and Benetti expanding their fleets to target both experienced and new owners. The Seadeck Series by Azimut incorporates hybrid performance into its design, while the Grande Series is positioned in the growing 26–40m segment.
Benetti is preparing to launch the Oasis 42, an evolution of the Oasis 40, with exterior design by RWD and interiors by Bonetti/Kozerski Architecture.
The group also plans to introduce some new categories, including Azimut’s Voyager line and a new Benetti model that the group says will combine elements of motor and sailing yachts.
Azimut-Benetti Group was founded in 1969 and operates six shipyards and employs over 2,000 people. The group is led by chair Giovanna Vitelli and maintains a global sales and service network of 138 locations.
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