Australian appliance manufacturer Breville Group has reported unprecedented annual revenues, attributing this success primarily to robust home coffee machine sales.
The New South Wales-based company, known as Sage in Europe, achieved a notable 3.5% increase in sales year-over-year for the fiscal year ending June 30, 2024, reaching AU$1.5 billion ($1 billion). This growth was driven by strong performances in the Americas and EMEA regions during the latter half of the fiscal year.
Breville experienced a significant surge in coffee machine sales, with double-digit growth recorded in markets including the Americas, Australia, New Zealand, and South Korea. This uptick in coffee machine sales was instrumental in counterbalancing a decline in revenue from the company’s Cooking and Food Preparation segments.
Jim Clayton, CEO of Breville Group, highlighted the company’s strong performance, particularly in the latter half of the year. “We have had a solid year, with significant improvement in the second half. The success of our new product launches, entry into new markets, and the ongoing coffee trend have driven our revenue growth, despite the pressures of rising living costs and market adjustments,” Clayton commented.
Founded in 1932, Breville is renowned for its diverse range of home coffee machines, including the Oracle, Barista Touch, and Bambino models. The company also acquired US-based Baratza coffee grinders for $60 million in October 2020, further expanding its product offerings.