The Azimut|Benetti Group, under the leadership of the Vitelli family, solidifies its position as the world's foremost yacht manufacturer, boasting a 14% share of the global market. The 2024 Global Order Book by Boat International magazine places the group at the pinnacle for both the number of units under construction and cumulative project length. With 167 yachts totaling 6014 meters, the group commands a 23% surge in production value, constituting 14% of the world market.
This achievement is mirrored in the group's robust financial results for the fiscal year ending August 31st, 2023. Production value witnessed a remarkable 23% upswing, and Ebitda experienced a substantial 50% increase. The group's consistent growth over the last five years is evident, nearly doubling production value from 700 million to 1.3 billion euros.
Courtesy of Boat International Media Limited
The Azimut|Benetti Group's enduring success stems from its strategic focus on customer experience, continuous product innovation, and a commitment to sustainability. The company's three-pillar strategic plan encompasses the evolution of product design and sustainability, the development of services through brands like Lusben and Yachtique, and the nurturing of talent.
Azimut and Benetti continue to dominate the market with cutting-edge concepts that anticipate owner desires and industry trends. Azimut explores new design frontiers, emphasizing a conscious design concept that respects the interconnected relationship between people, yacht, and the environment. Over half of Azimut's fleet is Low Emission Yachts, ensuring a reduction in emissions of up to 30%. The upcoming Seadeck is set to be the most efficient hybrid series ever built.
Benetti, through collaborations with renowned architects like Bonetti/Kozerski Architecture, reinterprets iconic models, introducing stylistic innovations such as the Oasis Deck®. The Benetti B.Yond is recognized as the greenest model in its category, achieving significant reductions in CO2 and NOx emissions. The next frontier involves optimizing consumption and emissions generated by onboard systems, addressing the environmental impact of larger boats spending 90% of their time at anchor.
The group's commitment to green solutions extends beyond prototypes, culminating in the first-of-its-kind agreement for the use of HVO biofuel. Collaborating with Eni Live, the group aims to replace all fossil fuels used for sea trials, tests, and prototype transfers with HVO biodiesel, reducing CO2 emissions by up to 90%.
The strategic plan emphasizes the growth of services through Lusben and Yachtique. A €15 million investment will expand the Lusben shipyard in Livorno, accommodating yachts over 100 meters. Yachtique, the internal styling lounge, will also expand its facilities over the next three years.
Azimut's innovative approach extends to a nautical "Airbnb" proposal, allowing Azimut owners to offer their yachts for charter worldwide through a digital platform developed by Azimut.
The group's leadership role is inseparable from its commitment to supporting its 2,400 direct employees, representing a growth of +24% in the last three years. The Azimut|Benetti Group Corporate Academy takes a transversal and integrated approach to training, fostering professional growth and employment in the nautical sector. The internal nautical module engages employees in a cruising experience on the group's yachts, embodying the mission to build the most beautiful, reliable, technological, and innovative yachts.
Azimut|Benetti Group was founded in 1969 by Paolo Vitelli, who is still the main shareholder today and Giovanna Vitelli is the President. The Group’s Azimut Yachts and Benetti brands produce over 45 models of yachts and megayachts. With value of production of €1 billion in 2021/2022 and 1.2 billion in 2022/2023, over 2,000 employees, six shipyards and a network of 138 points of sale and service worldwide, Azimut|Benetti Group operates in the European, American, Middle Eastern and Asian markets.
Credits: Azimut Benetti Group