Caffè Vergnano closes 2022 with a loss
The Piedmontese company is 30% owned by Coca-Cola Hbc
Caffè Vergnano, the well-known Piedmontese brand controlled by the Vergnano family and 30% owned by Coca-Cola Hbc, closes 2022 with increasing revenues, but with a loss on the bottom line, thanks to the jump in the costs of raw materials and power.
Turnover amounted to 97.5 million Euros (+12% compared to 2021), with an Ebitda value halved to 4.6 million, and a loss of 425,000 Euros, compared to profit of 3.5 million in 2021.
According to the report accompanying the financial statements, the increase in revenues for the same volumes was achieved with adjustments to list prices. The performance of the foreign horeca channel was good, which compensated for the drop in sales in the large-scale distribution.
Indebtedness has grown, from 18 to 22 million Euros, of which 16 million refer to payments for green coffee. The company, led by CEO Carolina Vergnano, generates 27% of its turnover abroad.
The partnership with Coca-Cola Hbc should further boost international development.
EFA News - European Food Agency