Azimut|Benetti Group showcased its financial results for the 2023/2024 fiscal year during a press conference at the Cannes Yachting Festival. The esteemed shipyard reported a substantial revenue increase, marking a climb from €840 million in 2020/2021 to €1.3 billion, signifying an impressive growth of 55% over four years.
For the year ending August 31, 2024, the Group witnessed a remarkable 30% year-over-year rise in EBITDA, attributable to enhanced operational efficiency and business expansion. Orders accumulated since January 1, 2024, total €2.6 billion, projected to sustain the Group's positive growth trajectory through 2029. With a revenue target of €1.5 billion for 2024/2025, forecasts suggest continued double-digit growth.
The Group's strategic initiatives in product offerings have yielded success across all segments and global markets, with order distribution indicating 40% from Europe, 37% from the Americas, and 23% from MEA and APAC regions. To bolster these efforts, Azimut|Benetti has initiated a €160 million investment plan for the upcoming three-year period spanning 2025-2027, focusing on crucial areas such as production capacity enhancement, research and development, and digitization projects.
Azimut Fly 62
Of this budget, €99.3 million will target increased production capabilities across the Group's shipyards, necessitated by the substantial order backlog. The commitment to research and development, with an allocation of €43.2 million, aims to advance the evolution of innovative yacht designs and technologies. An additional €13.9 million is earmarked for digital transformation, incorporating virtual reality in design and owner interactions.
In response to market fluctuations, CEO Marco Valle emphasized the Group's strategic positioning, leveraging its robust order backlog and focusing on innovative designs and brand differentiation.
Azimut Seadeck 7
In product highlights, Azimut unveiled the Seadeck 7 and Fly 62, featuring advancements in fuel efficiency and design, reinforcing the Group’s commitment to sustainability and modern luxury. Benetti is set to present its vision on innovation during a conference, "The Shape of the Future," in Monaco on September 26, illuminating the path forward in yachting design and technology.
Founded in 1873, Benetti is the oldest Italian shipyard specializing in luxury yachts. Benetti designs, builds and sells composite vessels from 29 to 44m and steel and aluminum boats from 37 to over 100m. The fleet consists of five categories: Class, Oasis, B.Yond, B.Now and Custom to meet all the needs of the market. Benetti belongs to the Azimut|Benetti Group, the largest privately owned luxury yachting group in the world.
Credits: Azimut|Benetti Group