Azimut|Benetti Group announces fiscal year results ahead of Cannes Yachting Festival
Azimut|Benetti Group is attending the Cannes Yachting Festival – the first international boat show of the season – with 21 models (17 from Azimut Yachts and 4 from Benetti) ranging from 10 to 40 meters in length. The group’s growth strategy is based on ever more substantial investments in product development, innovative technology and processes, new design trends and a global commercial presence.
Ahead of the festival, the group announced its fiscal year (September 2015 – August 2016) results. Financially speaking, the company closed its fiscal year reporting value of production of more than €700 millions, and a positive net result. The company also reported consistent growth of over 15 percent over the last two years.
The group, which produces almost 300 yachts annually, has introduced several new products over the past year, which the company says have all sold out: the new carbon fiber Fly models, the new Benetti Fast yachts with Rolls Royce azipod propulsion systems, and Benetti’s gigayachts reaching over 90 meters in length.
Planned investments for the coming three-year period in research & development, in the implementation of production processes, and in the development of new products amount to about €100 million, an increase of 15 percent on the previous three-year period.
Azimut|Benetti Group’s launch schedule includes no less than 12 new models announced in the 10 to 50 meter range over the next three years, joining the 14 models launched in the previous three-year period. The company said this offers Azimut and Benetti customers the broadest and most up-to-date fleet on the international yacht market.
The group also announced an agreement with Giorgio M. Cassetta to design the exteriors of the new Mediterraneo 116’ and an exclusive contract with Achille Salvagni for the interiors in all Fly Collection models over 50 feet and the interiors of the Benetti Class range. Francesco Guida has been engaged to design the interiors of the new S7 in the Azimut S Collection.
The group contributes much of its success to its work to strengthen the dealer network worldwide. The company has favored direct local operations, with a view to maintaining market presence through exclusive distribution under the Azimut Yachts brand, in partnership with top local operators.
“We have never stopped investing all our resources in the product, and the market recognizes this in the form of sales,” said Group President and Majority Shareholder Paolo Vitelli. “I feel proud of the more than two thousand people who work in the group. While many of them are young, they not only have a wealth of experience and a shared passion for the product and the technology it draws on, but also identify strongly with the company’s values.”
The majority shareholder by a substantial margin of Azimut|Benetti Group is the Vitelli family, with a holding of 88 percent, while the remaining share capital is held by Tamburi Investments Partners (TIP) with 12 percent and the management team, who have a small stake.
