MILAN — Azimut|Benetti Group, which is known for its luxury yachts coveted by the world’s rich and famous saw its sales boom, reaching an all-time high. 

Boosted by orders worldwide, and rapid growth in Middle Eastern nations like Saudi Arabia, the privately owned company said it forecasts a 15 percent rise in sales when it reports its fiscal 2024-25 year ended Aug. 31. That would bring sales of its luxury vessels to 1.5 billion euros in the 12-month period. This figure was in-line with a company forecast issued in 2024.

Since Jan. 1, it booked 2.5 billion euros in orders, a value that will continue to contribute to its earnings until 2029.

Amid a challenging macroeconomic climate and penalizing trade policy imposed by U.S. President Donald Trump, the Avigliana, Italy-based firm said it is well placed geographically and is poised to “penetrate new high-potential areas.”

Currently, the company’s order log confirms a balanced distribution in main geographical areas, with 30 percent of its sales booked in Europe, 31 percent in the Americas and 31 percent in the Middle East and Africa and Asia-Pacific region. “[The Middle East] is now the area reporting the fastest growth and the highest concentration of potential new customers. This trend is driven by targeted investments aimed at strengthening local presence, enhancing the sales network and opening up high-potential markets,” the firm said.

In Asia-Pacific, Azimut|Benetti Group is represented both directly and through a wide network of dealers across the main countries: Japan, China, Hong Kong, Singapore, Taiwan, the Philippines, Vietnam and, of course, Australia and New Zealand. 

Today, Azimut|Benetti Group is ranked as the number-one firm in the world according to length built by Boat International. Paolo Vitelli founded Azimut in the late 1960s. His daughter Giovanna has been chairman of the group since March 2023. The Vitelli family continues to control the company with two minority shareholders. Saudi Arabian sovereign wealth fund Public Investment Fund owns 33 percent, while Italy’s Tamburi Investment Partners owns 8 percent.

Sector wide, the yacht industry is bracing for the impact of the tariffs imposed by Trump. At a Genoa Boat Show press conference in Milan Wednesday, industry experts expressed uncertainty regarding the value of the impact in 2025. According to Deloitte Italy, it’s too early to tell. “Tariffs are a black box. Some say they have no impact, while others argue they could become a very significant driver. However, what we want to emphasize is that growth in the coming years, in our opinion, will mainly revolve around certain key factors,” said Tommaso Nastasi, senior partner at Deloitte.

Italy is the biggest superyachts-maker in the world by sales and is also home to go-to shipbuilders like Fincantieri, Sanlorenzo and Ferretti Yachts. In recent years it has set itself apart with new models like the Seadeck series and Benetti’s B.Yond family, both of which give shape to a new concept of luxury, one that interweaves aesthetic research, cutting-edge technology and which is focused on reducing environmental impact.

Azimut|Benetti, for example, is a leader in the Americas, and the U.S. in particular, and continues to serve as a major driver for the shipyard despite macro challenges in the area. “The America’s is a springboard for the Shipyard to achieve ambitious goals, despite the fact that it is currently the most challenging area because of the new import tariffs,” the company said.

More than half of Azimut’s fleet is now made up of low-emission yachts that reduce CO2 emissions by between 20 and 30 percent. Seadeck 6 integrates an innovative system that allows both zero-emissions at anchor and cruising with the generator off, further reducing on-board consumption. This system, called Mild Hybrid Zero Emission Hotel Mode, is based on a 42-kWh lithium battery pack and an alternator connected to one of the three engines. Overall the vessel reduces CO2 emissions by 40 percent over a year of average use, both when cruising and at anchor, compared to a traditional flybridge boat of similar dimensions.