Marco Valle on How Azimut-Benetti Leads from the Front
Having led the Global Order Book for 24m-plus superyacht orders for 25 successive years, how does the Azimut-Benetti Group currently stand financially?
We have a good portfolio of orders and a strong backlog of about EUR 2 billion. The global market is not as good as it was a few years ago, but there’s still a lot of action. The global landscape is evolving rapidly, and we are closely monitoring how developments such as tariff policies in the US may influence the market.
We had great results from the last US shows in Fort Lauderdale, Miami and Palm Beach, and my concern is not on the strong affinity that American owners continue to show for our brand and products but on the whole market in case clients adopt a ‘wait-and-see’ attitude. Once again, our strategic choice to ensure a balanced presence across all key markets has proven to be a forward-looking decision.
How are Azimut designs evolving with Alberto Mancini, who now handles the exteriors of four of the brand’s series?
Alberto was the right person to succeed Stefano Righini and provide continuity for the Fly (flybridge), S (sportbridge) and Grande (superyacht) models. He’s also doing the new Seadeck Series. His latest designs include the Grande 44M, which will be Azimut’s new flagship. Alberto has a gifted touch and the ability to interpret different styles with solutions driven by pure creativity.
Mancini’s recent designs include Azimut’s upcoming Grande 30M, with the first hull sold to Hong Kong by Marine Italia. How is the Asia market developing?
We have a great distribution network across Asia, so we’re quite satisfied, but we’re also convinced there’s still untapped potential to be unlocked. The Asia market has been quiet for a while, and this may well be the right moment to further strengthen our presence in the region.
This is especially relevant considering that we’ve recently sold several Grande superyachts into Southeast Asia, Hong Kong, mainland China and Japan. We had a Grande 32M delivered to Vietnam earlier this year, we’ve sold a couple of other Grande superyachts to China, so superyacht sales are encouraging but the flybridge models have slowed down a little.
So, Azimut-Benetti is making a conscious effort to step up activity in Asia?
In the past three decades, I’ve travelled many times to Asia including right across China. My first trip to Asia with Azimut was in 1996, with the Sales Director at the time, and we visited Hong Kong, Singapore and Malaysia.
The potential in Asia is high, but the challenge lies in finding a way to unlock its full promise, no easy task in such a vast region that encompasses a wide range of cultures and includes a lot of very different markets, from China to Singapore, which right now is growing faster than Hong Kong.
There are also exciting new markets like Vietnam. Our investment in Asia is driven by the goal of further energising the market, tapping into regions that are growing as yachting destinations and embracing a new generation of young owners.
Are you surprised by the traction in Asia for the new Magellano models?
We’ve sold a couple of Magellano 30M, which again shows the demand for the larger models in Asia.
Have the new Seadeck 6 and 7 motoryachts that debuted in 2024 achieved what you hoped?
With the Seadeck Series, the idea was to truly create something that stands apart from what’s available on the market in terms of lifestyle, design and technology, by offering a compelling counterpart to flybridge or sportbridge models.
This is the reason why the Seadeck 7 (71ft 2in LOA) includes the first helm-to-propeller hybrid-electric package by Volvo Penta, which is unique. This system was included on hull one and is still being developed by Volvo Penta.
It has been a big investment, but we believe in the Seadeck design and the results in the market have been better than we expected. The Seadeck 6 had a great reaction. We were worried that the size (56ft 7in LOA) was maybe too small for this kind of boat, but it proved that it wasn’t. The Seadeck 9 (84ft) is the next model in the Series and could debut at the 2026 Cannes Yachting Festival.
Designed for a slow pace of life at sea, the Seadeck concept appeared to be a change in direction for Azimut. Has it helped attract new clients?
This is a good point. The idea with Seadeck was to build something different. However, the new models are not only satisfying our clients but also attracting different kinds of customers who would never otherwise have been interested in Azimut. We had some external clients who saw the Seadeck and said they liked it but had never previously approached us.
Some of the Seadeck models have been bought as a second boat – like a day boat or family boat – by owners of megayachts. Sales have mainly focused on Europe so far, as the models are only starting to enter new markets around the world.
The Seadeck 6 appeared in America late last year and the Seadeck 7 had its US debut at this year’s Palm Beach show in March. The Seadeck 7 then had its Asia-Pacific premiere at the Singapore Yachting Festival this April. I look forward to seeing the reaction in these markets as these boats are attracting a new kind of client.
What has been the reaction when people have first boarded the Seadeck models?
The first feeling is that it’s not a conventional boat. People realise that you use the side balconies from a different perspective. It’s like having the external area of an express boat but without comprising the interior space and volume.
When you go boating these days, people are less formal. Everybody is more relaxed on board, so we wanted to transfer this attitude to the Seadeck. Even if you compare the lobbies of hotels, they’re now much relaxed compared to 20 years ago and more like a lounge. We’re trying to match this attitude that people are looking for now. You don’t need a formal area in this type of boat.
Why did Azimut choose to work with Matteo Thun and Antonio Rodriguez on the Seadeck interiors?
We were looking for somebody who understood the meaning of the boat, what we were looking to do. We invested a lot in the hybrid system, reducing the consumption, and the materials used in the boat, so when we looked for interior designers who could match this philosophy, we thought about Thun and Rodriguez because they’ve had a long-standing approach to sustainability. The selection of materials in the décor is in line with this philosophy.
We did our research and Azimut has enjoyed collaborating with designers who haven’t worked in yachting before, to differentiate ourselves. This was also the case when we had Achille Salvagni design interiors for so many years. This is our attitude, otherwise you’re always limited by the perimeter of yacht designers.
What led Azimut to work for the first time with m2atelier (Marco Bonelli and Marijana Radovic), on the Grande 30M?
They’re nice, they’re professional, and we like how they design the interior as a functional tool for the owner. Sometimes you have an interior designer who wants to create a showroom, which is nice to look at but not so user-friendly, but m2atelier focuses on how owners and guests use a boat. They’re more pragmatic, which I like.
The Grande 30M includes the Deck2Deck Terrace and Infinity Skydeck features, which were introduced on the Grande 26M and ‘semi-walkaround’ Grande 36M respectively. Can you also outline the Grande 30M’s propulsion technology?
We’re including the pod system. Azimut wanted a pod system that could be used across series production of bigger boats and not just on custom superyachts. On the Grande 26M [which debuted in 2022], we introduced the new Pod 4600 propulsion system in partnership with ZF.
On the Grande 30M, we begin our new partnership with Rolls-Royce and are integrating MTU diesel engines with integrated MTU propulsion systems as part of its ‘From Bridge to Propeller’ strategy. The new Grande models will be equipped with MTU’s Series 2000 engines, ZF pod drives and MTU’s NautIQ Master integrated platform management system. It’s much more efficient to work with one supplier who can manage the entire propulsion system.
Earlier this year, Benetti stated it had 10 hybrid superyachts under construction and that seven of the 13 orders for B.Yond superyachts included hybrid technology. Is demand for eco-friendly technology growing?
Yes. Basically, about 50 per cent of B.Yond orders are for hybrid. We also have orders for much bigger boats, from about 60-67m. Benetti can offer hybrid systems for almost all its models and can sometimes even do full electric.
Our hybrid systems are proven. It’s much easier to include a hybrid system on the bigger yachts than it is on the smaller ones because of the size of the batteries. Whenever you have 40m, 50m or 60m-plus yachts, it’s easy to have a hybrid system because it’s just a question of having the space for a battery pack on board. It’s much more of a challenge on smaller boats when there’s less space compared to the size of battery pack needed.
What has been the response to HVOlution, the biofuel that Azimut successfully debuted on the first Magellano 60 in 2023?
This was simply the first model we used bio-fuel in, but we propose and can use HVO on all our models. All our tests were done with HVO and today we have fully transitioned from traditional fossil fuels to HVO biofuel – specifically HVOlution by Eni Live, which can reduce GHG emissions by up to 90 per cent – for sea trials, technical transfers and final refuelling prior to delivery to owners.
HVOlution has a different density to diesel but all our new engines can be operated with biofuel. You can even mix them. However, currently we can only provide HVOlution in Italy. If we could make this available everywhere, it would be an easy solution to reducing emissions, but not the least expensive, as distribution costs depend on taxes and restrictions country by country.
Azimut says over half of its models are Low Emission Yachts, which it defines as those with 20-30 per cent fewer emissions than the market average. How do you achieve this?
Whenever we do a new product, we decide on the level of consumption of the boat. We then achieve the target with the choice of engines or propulsion system, the amount of carbon-fibre used to reduce weight, and the shape of the hull, or a combination.
In 2023, to help the market, we commissioned Lloyd’s Register to develop a carbon-emission index for sub-24m yachts, like the SEA Index rating available for 24m-plus yachts. We’ve adopted this since last year, so each Azimut yacht has an official rating from Lloyd’s Register, although this system has not been used by other shipyards.
This kind of rating is on almost all products today, from houses to electrical appliances, but not in this industry. We decided to do it in the hope that others would follow, but I think the only way it will happen is if the clients start to ask for it or demand it. And this could increasingly happen if there’s a financial incentive for the purchase of more environmentally friendly products, as with cars.xx
Since Saudi Arabia’s Public Investment Fund (PIF) acquired a 33 per cent of Azimut-Benetti Group in 2023, has it played an active role?
They have proven to be the perfect investor. They wanted to understand the industry and help the Group develop new businesses in Middle East. The Middle East is growing, and to have a partner like this, with local presence, is a strategic move. We will be more and more present in the future.
Finally, could you tell us what the late Paolo Vitelli meant to you, having worked under him for almost three decades since you joined Azimut in 1996?
Joining the sales team at Azimut was my first job in the yachting industry, and my last interview before I was hired was with him. When I started, Azimut was a relatively small company, and it grew by about 25 per cent each year into the 2000s.
Being a sales person, he always wanted to be present in the market. He travelled a lot, and I often travelled with him and others. He was able to travel to Asia, complete a deal and fly back to Italy on the same day – he was unstoppable. He was very charming, very intuitive, able to understand any situation immediately, and always knew exactly what was happening in any negotiations.
Working for him was always challenging as he was never 100 per cent satisfied. He challenged me from the beginning, even in my [job] interview. He knew he was always looking at the glass as half-empty. Everything was “good-bad” – that was a typical phrase of his.
He always pushed his stakeholders to raise the bar and go beyond their limits. He was a driven innovator, working every day and night. It is this spirit that has made Azimut-Benetti the world’s leading Group in the yachting industry.
Photos By Azimut-Benetti Group
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