Illycaffè Sees Net Profit Growth Of 39.1% in FY 2018
Italian coffee company Illycaffè has posted a 39.1% growth in net profit, to €18.1 million, for the 2018 financial year.
Normalised net profit, comparable with 2017, amounted to €16.7 million (+8.4%), while adjusted EBITDA reached €75.3 million (+10.7%).
Foreign sales accounted for 65% of total revenues, with strong volume growth in North America (+8.4%) and China (+12.2%).
In its home market, Italy, e-commerce was the biggest growth driver (+78.9%).
Chief executive Massimiliano Pogliani attributed the positive performance to increased efficiency and decisive actions in the core business, the portioned market, and the HoReCa sector.
He explained that growth was achieved by broadening the brand’s global leadership as a quality product provider in the premium hospitality sector, developing its mono-brand retail channel globally, and increasing market share in the portioned system sector.
Illycaffè ended the year with 259 points of sale, comprising 179 Illy Caffè outlets and 80 Illy Shops.
In 2018, the coffee giant opened 37 new points of sale.
The company has reported that it will continue to focus on policies relating to climate change and innovation.
It will also concentrate on its own retail network and portioned systems, and give priority to international growth, especially in the USA and China.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: European Supermarket Magazine.