Italy's Kimbo Posts 2.3% Growth In FY 2018
Italian coffee brand Kimbo has ended 2018 with a turnover of €187.5 million, up 2.3% year-on-year.
The positive result was affected by a 13.7% increase in revenue in its foreign markets, which now account for 22% of the group's total revenue.
EBITDA amounted to around €16 million, or 9.3% of net turnover, while EBIT reached €11 million.
The company closed 2018 with a positive net financial position of €21.8 million, reports Affari Italiani..
The development of single-portioned coffee pods is of strategic importance to Kimbo, the company said.
Paper pods are of particular importance for the company, as it holds a 22% sales share in the hypermarket and supermarket channels. In 2018, the volume of paper pods grew by 19%, with further growth expected in 2019.
The introduction of compostable paper pods and new blends and sizes is expected to contribute to the growth.
The sales volume of capsules compatible with other non-proprietary systems grew by 62% thanks to investments in TV and digital advertising and continuous expansion of the presence in stores.
Growth in the HoReCa channel was 12.5% last year, due to the opening of new Kimbo bars as well as territorial expansion.
Last year, Kimbo introduced more than 30 new SKUs in Italian and foreign markets.
The company has invested in new lines for the production of capsules at its historic Melito plant near Naples.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.