During the opening of the Cannes Yachting Festival, Azimut Benetti Group reported its financial performance for the fiscal year 2023/2024. The group achieved revenues of €1.3bn (A$2.1bn), marking an increase from €840mn in 2020/2021, representing a 55 percent growth over four years. The company also reported a backlog of €2.6bn, with orders extending to 2029.

The gross operating margin (EBITDA) rose by 30 percent year-on-year, driven by enhanced business growth and operational efficiency. Looking ahead, the group projects double-digit growth for 2024/2025, setting a revenue target of €1.5bn.

Azimut Benetti’s backlog is distributed across Europe (40 percent), the Americas (37 percent), and MEA/APAC (23 percent). Over the next three years, the group says it will implement a €160mn investment plan, focusing mainly on increasing production capacity at its shipyards. Of this, €99.3mn will be allocated to automation and technological advancements. A further €43.2mn will be invested in R&D and product development, while €13.9mn will go towards digitalisation, including the use of virtual reality in prototyping and communication with clients.