Azimut: 170 million in investments and a 40 million order in the Maldives

Azimut Benetti is preparing a new round of investment, totalling 170 million over the three-year period 2026–2028, to improve the efficiency of its production sites and advance digitalisation; it is also opening a new business channel for the supply of boats to luxury resorts in the Maldives. This is a project that has just got underway, involving an agreement worth 40 million euros, which will be officially announced on Sunday, the closing day of the Cannes Yachting Festival. This was explained by Marco Valle, CEO of the group – the world’s leading manufacturer of boats over 24 metres in length – which is owned by the Vitelli family.

“From 1 September,” explains the manager, “we have launched a three-year plan covering the sailing seasons from 2026–2027 to 2028–2029, with a budget of 170 million. It follows on from a previous three-year plan worth 160 million, of which we have already spent nearly 60 million.” In effect, therefore, 70 million is being added to the 100 million that had been announced in June this year (see *Il Sole 24 Ore* of 25 June 2026), to be allocated to work on the production facilities in Tuscany, between Viareggio and Livorno.

With those resources, Valle continues, the group will invest “in projects, facilities, marketing and everything to do with digitalisation. In Viareggio, for example, we are refurbishing the entire Azimut building and have expanded the workshops; as for Benetti (the brand under which the company produces custom maxi yachts, ed.), we will be investing in both the Viareggio and Livorno sites. In addition, we will be carrying out some work at the Lusben shipyards in Livorno (a brand specialising in boat refits, ed.). And all these investments – it is important to note – are self-financed. We can afford to do this because our net financial position today comfortably exceeds 500 million euros. Furthermore, we have a turnover of around 1.5 billion, as we had forecast for this year, and a backlog (the order book comprising boats yet to be built, ed.), as at the end of August, of 3 billion euros, up on last year’s figure, which stood at around 2.5 billion.”

In addition to investing in the refurbishment of its shipyards, Azimut Benetti is also focusing on a new business channel. “It took us a year and a half,” says Valle, “to finalise a contract for around 20 vessels to be supplied to two luxury resorts in the Maldives. On Sunday, here at the Cannes Yachting Festival (which closes on 13 September, ed.), we will formalise the signing of the contract with the CEO of the resort in question.”

As Valle explains, “this is a deal worth more than 40 million. The boats are used to transport guests from Malé to the resorts and then around the islands. The yachts, which are from the Magellano range (models 60 and 25, ed.) and the Fly 72, range from 18 to 25 metres in length and feature a bespoke layout, because, given the service they are intended for, some of these boats do not need, for example, a large number of cabins but rather lounges for guests”. Furthermore, to provide an adequate maintenance service for the yachts, “we are making preparations,” says Valle, “to set up an on-site facility, complete with spare parts and servicing, so that these boats remain operational at all times.”