Northern Europe Boosts Massimo Zanetti Growth In H1
Italy’s Massimo Zanetti Beverage Group has reported revenues of €442 million (+1.7% y/y) and net profit of €5.2 million in H1 2016.
Roasted coffee sales volumes grew 6.7 per cent to 63,678 tons, while adjusted EBITDA rose 13.3 per cent to €26.7 million.
The group's mass market channel (41.4% of total group volume) grew by 8.2 per cent to 26,194 tonnes, due to continued growth in Northern Europe, led by Finland, The Netherlands and Germany. Its private label channel (50.5% of the total) increased by 6.2 per cent to 32,175 tonnes, thanks to results achieved in the Americas (notably the USA) and in the Southern Europe.
At a geographical level, a total of 39,526 tonnes was sold in the Americas (+3.8%), with growth mainly driven by the private label segment. The Americas accounted for 62% of the group’s total sales volumes.
Volumes in Southern Europe totalled 12,948 tonnes (+4.2%), with strong growth in Northern Europe (+25%) with 10,183 tonnes.
The brand Kulta Katriina in Finland grew thanks to relaunch, new packaging and TV advertising. MZBG also said it expects to close the acquisition of Portugal’s Nutricafés, announced last month, by mid-September.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.