Azimut-Benetti revealed at the Cannes Yachting Festival that their order book is a strong contributor to the Group’s improving fiscal status. With new orders flowing in as of January 1, 2024, their billion-dollar success is inching towards $3 billion, with deliveries scheduled through 2029. The Azimut-Benetti group, founded in 1985 (when Benetti was acquired by Azimut), is reporting revenue of $1.44 billion for 2023-24, a significant leap from $935 million in 2020-21. With the shipyard’s momentum, it wouldn’t be surprising to see Azimut-Benetti easily achieve the $1.66 billion revenue target for the 2024-2025 fiscal year.
The world’s leading manufacturer of megayachts is behind sea-faring marvels like IJE, Luminosity, Lionheart, and the ultra-luxurious Kingdom 5KR. In fact, the latter came at a great cost to the Benetti shipyard, which struggled to stay afloat after delivering the yacht. It was formerly known as the Nabila motor yacht (Kingdom 5KR), and a ruthless contract forced the Benetti yard into bankruptcy in 1984. However, Azimut-founder Paolo Vitelli purchased the over 100-year-old Viareggio-based shipyard, forming the Azimut-Benetti Group.
It has since grown to become the world’s top superyacht builder. Notably, Azimut-Benetti’s revenue during the 2020-2021 fiscal year saw a 62.5% increase despite the pandemic. According to their website, the shipbuilder has 167 yachts under construction in 2024, the most in the world, representing 14% of the global market. Some projects contributing to the $2.7 billion order book worth looking forward to include the 279-foot fully custom megayacht FB283, the 236-foot Benetti B.NOW, and the 220-foot Benetti FB278 – Project Fenestra.
