Azimut reinforces its global market leadership at Cannes yachting show

Dubai / Emirates Business

With the new boat show season that has just started in Cannes, Azimut Yachts, the world’s leading yachts manufacturer with seven offices in the Middle East including UAE, achieved an excellent year as Azimut Benetti Group closed the accounting period with value of production estimated at €850 million (+18% on the previous year at constant exchange rates) and an adjusted Ebitda of €50 million. Volumes are also up and stand at 261 new units.
The strengthening of the Azimut Benetti Group’s position in this segment, confirmed by its placing at the top of the Global Order Book ranking announced last December for the 18th year running, is attributable to the commercial success of the Azimut Grande range, and the 35 and 27-meter models in particular, with 10 and 21 units sold respectively since their market debut, and of the Benetti range. The main markets for Azimut are the Americas, which account for 38% of sales, followed by Europe with 33%, the Middle East with 16% and Asia Pacific with 13%. In South America, the success of the Itajai shipyard in Brazil deserves a special mention, increasing its value of production by 24%, with 36 yachts built, and bucking the trend reported by many European players who have decided to abandon the country.
The Group has invested over €104 million over the last three-year period, of which €32 million in production capacity and the remaining €72 million in renewing the product range. In the upcoming three-year period (2019-2021), another €122 million will be invested, of which €28 million in production capacity and the remaining €94 million on the development of 10 Azimut Yachts and 7 Benetti models to renew the range.
Giovanna Vitelli, Vice President of Azimut Benetti Group emphasized, “The achievements reported this year, and throughout the Group’s history, are the result of an enterprise approach founded on stability and driven by the farsighted vision of the ownership, which has always pursued management continuity, professionalism and profound respect for the customer as the company’s fundamental values.”
Marco Valle, CEO of Azimut Yachts clarified, “Azimut’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. That’s why, I’m confident about our distinctive exposure this year in Cannes Yachting Festival.
Valle explained, “Our product expansion strategy has proven its success in the market as we do identify the best context for each product. I’m also proud to have highly skilled and qualified team of designers who have different approaches coping with the latest technologies.”