Azimut|Benetti Group has reported strong financial results for 2023/2024, achieving revenues of €1.3 billion and forecasting 15% growth for the upcoming year.
Additionally, their order backlog since January 1, 2024, totals €2.6 billion and extends through 2029, positioning the group for continued double-digit growth. The revenue target for 2024/2025 is set at €1.5 billion.
CEO Marco Valle acknowledged the current market contraction but emphasized the group's strong position due to its significant backlog. He highlighted the impact of the group's strategy, which focuses on innovative yachts, strong brand positioning, international presence, and production advancements.
These financial details were shared during a press conference at the 2024 Cannes Yachting Festival, which runs until September 15. The group's backlog is well-distributed across key regions: Europe (40%), the Americas (37%), and MEA/APAC (23%).
Investment in Production
Azimut|Benetti also announced a €160 million investment plan for 2025-2027. Of this, €99.3 million will go toward increasing production capacity across all shipyards, improving automation, and adopting new technologies. The group's main sites, including its headquarters in Avigliana (Turin), will be refurbished by Amdl Circle and architect Michele De Lucchi.
An additional €43.2 million will support R&D and new product development, while €13.9 million will be invested in digitalization, with virtual reality playing a larger role in prototyping, design, and customer interactions.
Azimut has a strong showing at the Cannes Yachting Festival, with three yachts from the Flybridge range: Fly 68, Fly 72, and the Fly 78, alongside other yachts from their fleet including the popular Magellano 30M and the Magellano 66 flybridge yacht.
Featured at the Superyacht Extension of the Cannes Yachting Festival, Benetti showcases the Oasis 40m superyacht ORENDA and the Motopanfilo 37M yacht EH2.
At the Cannes Yachting Festival, Azimut is also showcasing the Seadeck 7 and the Fly 62, two new models that highlight the company's focus on innovation.
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