BREAKING NEWS 02.12.2024

In the press release dated December 2, 2024, Bellini Nautica SpA, a company founded in 1967 and leader of a group operating in the luxury nautical sector, specializing in the production of Bellini Yacht-branded boats, as well as in the trading of new and used boats, the restoration and trading of “Vintage Riva” boats, and offering a wide range of related services, announced the signing of a lease agreement as the sole tenant with Marina di Ponente Srl. The lease covers two commercial properties located at the Marina di San Lorenzo al Mare, in the municipality of San Lorenzo al Mare (IM), at Via Aurelia 3. Marina di Ponente, one of the 25 marinas managed by D-Marin and under the control of CVC Capital Partners, is situated in a highly prestigious coastal location. This new space represents a strategic opportunity for the Bellini Group, which will utilize the area to promote and sell its boats, including Bellini Yacht models, and provide specialized assistance services. The facility includes a 98-square-meter office and a 160-square-meter showroom, both exclusively managed by Italian Dealer Srl, a subsidiary of the Group. Operational leadership will be entrusted to Massimo Scagnelli, CEO of Italian Dealer, who will oversee the team alongside two new recruits. This new sales point will enable the Bellini Group to expand its customer base, strengthen sales through Italian Dealer, and showcase the Cranchi Yachts and Bellini Yacht brands in an exclusive setting. In light of the press release, we confirm our recommendation: Target Price €5.25, Rating BUY, and Risk Medium.

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