Vitelli (Azimut Benetti) hopes for a normalization of the market and launches the Airbnb of yachts

Cannes (France) – At the Cannes Yachting Festival, the Azimut Benetti group highlighted what can be done today to make recreational boats sustainable and to certify progress in their construction and operation through a third-party body (Loyd's Register). This approach also involves research into concrete alternatives to fossil fuels, an activity conducted by the group's R&D department through scouting and testing a range of solutions, from biodiesel to the prospects of synthetic fuels. The desire to scientifically and objectively evaluate which solution could be immediately applicable and effective prompted the shipyard to contact the Energy Department of the Polytechnic University of Turin and the KTH Royal Institute of Technology in Stockholm.

During the boat show on the French Riviera, Azimut Benetti President Giovanna Vitelli spoke to SUPER YACHT 24 about the shipyard's latest figures and trends, revealing some interesting new developments that had not yet been publicly announced.

Dr. Vitelli, what were the numbers for Azimut Benetti's last nautical year, which ended in August?

“The last financial year saw a 20% growth in turnover, which will close at around 1,2 billion euros, of which the two brands Azimut (with a production of between 250 and 300 boats each year) and Benetti (with around twenty units delivered) contribute approximately 50%.

In terms of order intake, our group has a backlog approximately three times greater than that of our competitors, which means we have a full production horizon for a number of years and demonstrates that we have arrived at this year with the right product at the right time.”

Did the Cannes Film Festival bring encouraging signs or concerns?

For high-end vessels (superyachts), August was similar to last year's. The challenge will be to see what happens in the mid-range segment. A bit of normalization would be beneficial for the market, alleviating some tension in the supply chain, because supplier management (from generators to engines and material availability) has been a challenge, both in terms of availability and quality.

We don't want a recession, but a bit of normalization that brings the supply chain back to normal, both in terms of availability and punctuality, but also in terms of prices, would be a healthy thing, in my opinion. This is especially true if a shipyard has a healthy order book looking ahead."

An adjective to describe your first year as president of Azimut Benetti?

“I was fortunate that this transition occurred in a phase of booming The market, but this year, in a word, I'd call it stimulating. There's a lot of new product, investments, even in construction sites to make a significant technological leap. We'll introduce some automation, especially for those processes that require quality and workplace safety; for example, bodywork and painting are tedious. We're moving towards robotizing that part. It's been a year in which you create new projects and actually get them done; it's one thing when you're playing defense, another when you're playing offense."

What new developments can we expect in the future beyond the pure construction business for Azimut Benetti?

"Refitting, which is a countercyclical business and a complementary service to the sale of new vessels, will be a great chapter in the years to come because Lusben is enriching itself with a whole new area in Livorno and we have €12 million in investments on the horizon. We will become one of the two or three major refit hubs in the Mediterranean because we will be able to accommodate vessels over 100 meters in length.

It's a third leg of the business which is also giving us great satisfaction in terms of margins thanks to the plants in Viareggio, Livorno and Varazze."

Why are yacht services becoming increasingly important?

"The world of services is the area where we need to dedicate even more energy. Now, thanks to a collaboration with Google and others, we have a plan to provide customers with greater on-board automation, as is often the case with second homes.

This year, we launched a kind of Airbnb for Azimut owners, an online platform managed by us where we offer our clients (in the under-24-meter segment, as there are already brokerage firms that do this professionally) the opportunity to generate revenue from their boats by pooling all the available space from our various dealers. It's a system that handles check-in, check-out, and complete supervision of the boat. This is a new service we just launched, available on the Azimut website, to make the nautical sector more accessible.

Which markets are giving the most satisfaction at the moment?

"For Azimut, the United States is the main market; for Benetti, too, the US is a mature and rich market. The Middle East has also grown significantly, and with our new partner PIF, we want to further expand it, and that's already happening. We have some interesting deals on the larger Benetti portfolio. Australia, New Zealand, and Japan are also showing growth."

What do you ask of the current government to help the nautical industry?

I have a list of things to ask, but at the top of the list is the idea of ​​supporting and encouraging the transition to green in the boating industry, as is the case with cars. The use of HVOs, or the choice of a hybrid engine, could be rewarded with a tax break or an incentive. It's true that we're in the world of the superfluous, but in this sector the costs of new technologies are still very high. If the whole world is to move in the direction of green It would make sense for this to happen in the nautical sector too.

It wouldn't even seem like a particularly complicated thing to support. For example, HVO currently requires calling a truck to refuel; the cost of road fuel transport could be reduced. Or a bonus could be awarded to those who consistently use HVO based on the difference in price they pay compared to traditional diesel. It would be a huge boost because it would create demand and accelerate the growth of distribution points where they don't exist. It would be a virtuous method for pushing the sector in the direction desired by the PNRR and Europe.

Another request?

“Then there are the age-old problems of being the world's leading yacht-producing country and not keeping them on the territory, thus losing out on enormous economic benefits (not just restaurants and shopping, but also crews who stay year-round, services, and refits).

Unfortunately, in Italy there's no attractive flag; we still have a registry that doesn't work. It was paper-based until recently, and it's still structured along the lines of the ACI (Italian Automobile Club) car registration system. It's very cumbersome because registration takes a long time. If it takes me three days in Malta, it takes months in Italy.

I'm also thinking about a strategy to offer a cruise along the Italian coast that would connect the marinas. The promotion of nautical tourism is something we lack. We don't yet have a comprehensive vision."

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