large white sleek superyacht

Azimut|Benetti Group has detailed its financial results for the year 2023/2024, with revenues of €1.3 billion and a predicted 15 per cent growth forecast for the following year.

The group’s revenues have risen from €840 million in 2020/2021 to €1.3 billion in the financial year 2023/2024, with growth of 55 per cent reported in the last four years.

The backlog of new orders since January 1 2024 stands at €2.6 billion and extends to 2029, outlining a positive future scenario for the group and ensuring double-digit growth in 2024/2025 too, with the revenue target set at €1.5 billion. 

Marco Valle, Azimut|Benetti Group CEO, says: “After a period of unprecedented growth, we are now experiencing a physiological contraction of the market, which the group can manage from a position of strength thanks to the significant order backlog. In this scenario, the group’s strategies have made and will make the difference: innovative yachts and the correct positioning of the Azimut and Benetti brands, a broad-based international presence and ongoing production evolution.”

The Italian shipyard revealed the group’s revenues at a press conference at the Cannes Yachitng Festival, which is running to 15 September. In an encouraging overall trend, the shipyard’s backlog distribution by area is split fairly equally between Europe (40 per cent), Americas (37 per cent) and MEA APAC (23 per cent). 

New investment in production

At the press conference, Azimut|Benetti revealed an investment plan worth a total €160 million for the three-year period 2025-2027, to support strategic priorities and expand production.

The main goal – with €99.3 million earmarked to achieve it – is to increase the production capacity of all the group’s shipyards, with a view to fulfilling the considerable order backlog and involving further developments in automation and the implementation of new technologies. The group’s main sites, including its headquarters in Avigliana (Turin), will also be refurbished in a project by Amdl Circle and architect Michele De Lucchi.

A further €43.2 million will be invested in R&D and new product development. Finally, another €13.9 million will be invested in digitalisation projects, with virtual reality increasingly used in prototyping, design, and the communication with the owner during both the purchase and configuration of the yacht.

Azimut is showcasing the new Seadeck 7 and the new Fly 62 at Cannes Yachting Festival.

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