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Illycaffè, semester growing

Revenue growing by 21% on 2021: increase on horeca

'We're very satisfied of the 2022 first semester's results'. Without mincing words, states Cristina Scocchia, CEO of Illycaffè, on the financial report of 2022'a first semester, closed with revenue increased by 21% compared to 2021's. The revenue of horeca channel, states the company, 'sustained by a gradual recovery of consumption outside homes', have registered a 'double digit growth compared to 2021 reducing the leap of pre-pandemic levels'.

Despite the constant pressure on borders linked to the price increase of raw materials, and to logistic costs, the EBITDA has been registered growing compared to the last, 'benefiting the speed of revenue and of the growing operative efficiency coming from a strong focalization on drivers of long periods of growth'.

The step forward has happened mostly in Italy, where income has increased by more than 30% compared to 2021 'thanks to an acceleration of the acquisition rate of new clients, especially in the premium segment, and in the growth of average consumption'.

The revenue of the home channels have also been growing compared to 2021: specifically, says the label, the revenue of on-line channels have increased by 11% compared to 2021, lead by the US and China.

In the United States, primary market on the industrial plan, sales volume has increased by 34% compared to last year's 'because of positive performances in large-scale distribution, of the strengthening of the partnership with Amazon and of the upswing of the food service channel'. In China, revenue has increased by 16% compared to 2021's, which were lead by on-line.

'The growth in all markets - explains the CEO Scocchia - demonstrates the efficiency of strategies in the industrial plan. The growth has been sustained by all distributive channels, with a good balance between home and out-of-home. These results are a solid point to face a year that is foreseen to be complex and challenging, especially on the profitability side, because of the growing uncertainty and volatility linked to the macroeconomic contestant to geo-politic tension'.

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EFA News - European Food Agency