Azimut | Benetti Sees Positive Financial Result
Published: Thursday, 08 September 2016
Azimut | Benetti Group attends the Cannes Yachting Festival Sept 6-11 with 21 models (17 from Azimut Yachts and four from Benetti) ranging from 10 to 40 metres in length. Buoyed by solid results, the Group’s growth strategy is based on substantial investments in product development, innovative technology and processes, new design trends and a global commercial presence.
(Photos: Azimut | Benetti Group - Press conference at Cannes Yachting Festival)
Financially speaking, the company closed its fiscal year (Sept 2015 - Aug 2016) reporting value of production of more than €700 millions, and a positive net result.
The Group, which produces almost 300 yachts annually, has introduced innovative products over the past year which have all sold out: the new carbon fibre Fly models, the new Benetti Fast yachts with Rolls Royce azipod propulsion systems, and finally Benetti’s gigayachts reaching over 90 metres in length.
(Benetti Chief Commercial Officer Fabio Ermetto, Benetti CEO Vincenzo Poerio, Azimut | Benetti Group CEO Ferruccio Luppi, Azimut | Benetti Group President Paolo Vitelli, Azimut | Benetti Group Board member Giovanna Vitelli, Azimut Yachts Managing Director Marco Valle)
Confirming the Group’s strategy, planned investments for the coming three-year period in research and development, in the implementation of production processes, and in the development of new products amount to about €100 millions, a sharp rise of 15% on the previous three-year period.
Azimut | Benetti Group’s launch schedule is rich for the yacht world, with no less than 12 new models announced in the 10 to 50-metre range over the next three years, joining the 14 models launched in the previous three year period. This offers Azimut and Benetti customers the broadest and most up-to-date fleet in the international yacht market.
It is a strategy nourished by constant innovation and evolving creative design, with the Group announcing an agreement with Giorgio M. Cassetta to designer 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.
Finally, Francesco Guida has been engaged to design the interiors of the new S7 in the Azimut S Collection.
Another factor behind the Group’s success is its work to strengthen the dealer network worldwide, with the record number of 70 through a total of 138 sales and assistance offices. In fact, the company has always favoured direct local operations, with a view to maintaining market presence through exclusive distribution under the Azimut Yachts brand, in partnership with top local operators.
The strategy defined by the Group has, on one hand, allowed it to ride out international financial turbulence, and on the other to consolidate value and volume growth, confirming its financial solidity, production supremacy and ability to act as a driver of the global yacht segment.
“We have never stopped investing all our resources in the product, and the market recognises this in the form of sales,” says 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%, while the remaining share capital is held by Tamburi Investments Partners (TIP) with 12% and the management team, who have a small stake.