Segafredo has been chosen by Japan's Unicafe as one of the six brands that will supply compatible coffee capsules for its new Keurig K-cup system.
Pascal Héritier, the COO of Segafredo-owner, Massimo Zanetti Beverage Group, said, "Single-serve business is constantly growing in Japan and following the Group’s strategy, the new product will enhance our brand awareness in the country."
The 'Segafredo Roma' capsules have been specifically-produced to spread the 'Italian coffee tradition' in the Japanese markets.
First-Quarter Results
The new contract was announced days after Massimo Zanetti Beverage Group (MZBG) reported its first-quarter results.
A specialist in the production and marketing of Segafredo coffee, MZBG saw a 14.3% annual drop in net profit to €2.4 million
It reported revenues of €217.7 million (+3.1% at current exchange rates and stable at constant exchange rates).
The sales volumes of toasted coffee increased 1.9%, mainly driven by its performance in North Europe and the Americas.
Revenue from its Food Service channel, which represents 23.1% of the Group’s revenue, was in line with Q1 2018, while the mass market and private-label channels accounted for 36.8% and 33.0% of revenues, respectively.
Geographical Performance
In the Americas, the company's revenues amounted to €96.3 million (44.2% of the total), down by 1.9% at constant exchange rates.
Its revenue in northern Europe was up 6.3% to €45.4 million, while in southern Europe it dropped by 7.0% to €53.2 million.
Revenues in the Asia-Pacific region grew by 11.7% to €22.7 million.
Group EBITDA was up 12.8% to €17.2 million (-3% to €14.8 million excluding IFRS 16 effects), while the net financial debt before application of IFRS 16 amounted to €204.2 million, compared to €174.7 million a year before.
During the quarter, the company also completed the acquisition of the Australian company, The Bean Alliance, and Portuguese company Cafés Nandi.
Outlook
For 2019, MZBG expects a slight increase in revenues as a result of the improvement in the product and channel mix.
The company has forecast a 3-5% increase in adjusted EBITDA and a net financial debt of around €195 million.
© 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.
