On the eve of its major display at the Cannes Yachting Festival, Azimut|Benetti Group forecasted revenue of €1.5 billion for FY 2024/25 (September-August), an increase of 15 per cent on the previous financial year.
The company also announced that its backlog secured since January 1, 2025, stands at €2.5 billion and extends into 2029, which “testifies to the solidity of the Group’s order book and reinforces the consolidation target for the 2025/26 financial year”, according to the company.
The backlog is spread across the three main target markets, with 38 per cent in Europe and 31 per cent in both the Americas and MEA-APAC, the latter rising from 23 per cent of the order portfolio a year earlier due largely to growth in Middle East orders.
Despite a widely perceived market slowdown since the post-pandemic boom years, the Group stated that it achieved its growth objectives due to investment in both infrastructure and product innovation, plus a market approach “that aims to consolidate a geographically balanced presence and penetrate new high-potential areas”.
Azimut|Benetti Group is investing €115 million from 2024-27 across all its sites in Italy, which includes expanding the Avigliana site to build yachts of up to 28m and expanding the areas dedicated to high-added-value activities such as the refit projects undertaken by the Lusben division.
In addition to renewing their core ranges, both brands are investing in new categories – including Azimut’s Seadeck Series and Benetti’s Oasis and B.Yond ranges – “capable of attracting newcomers and new generations as well as experienced owners”.
In terms of markets, Azimut|Benetti Group described the Middle East as the area with the “fastest growth and highest concentration of potential new customers”. In Saudi Arabia, where the Group recorded €300 million in sales over the past 24 months, the company plans to open an Azimut office in Jeddah and a Benetti office in Riyadh.
In Asia-Pacific, Azimut|Benetti Group is represented directly and through a wide network of dealers across Japan, mainland China, Hong Kong, Taiwan, Singapore, the Philippines, Vietnam, Australia and New Zealand.
Azimut|Benetti Group described the Americas, and the US in particular, as both “a springboard for the Shipyard to achieve ambitious goals” and “currently the most challenging area because of the new import tariffs”. The Group is soon opening exclusive Azimut and Benetti boutiques at Pier Sixty-Six in Fort Lauderdale.
For more information visit, azimutyachts.com, benettiyachts.com
This article was first seen on YACHT STYLE.
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