Italian coffee company illycaffè has released its full – year 2024 financial results, revealing group revenues of €630 million (equivalent to US$680 million). This represents a 6% year – over – year increase.
The company attributes this robust organic growth to rising sales volumes across its key markets, including Italy, the United States, Spain, France, and the United Kingdom.
The Gross Operating Margin (EBITDA) expanded to €110 million (US$118 million), a 19% growth from 2023. This growth was spurred by increased sales volumes and continued organic expansion. The EBITDA margin improved to 17.5% of revenues, marking a 1.9 – percentage – point increase compared to the previous year.
The Net Operating Margin (EBIT) climbed to €61 million (US$66 million), a significant 50% increase relative to 2023. This was supported by the growth in EBITDA and a reduced impact of depreciation on net revenues.
Net profit surpassed €33 million (US$35.5 million), registering a 42% increase, following the strong upward trend of EBIT. The Net Financial Position stood at €109 million (US$117 million), showing a 10% year – over – year improvement. The company’s strong cash generation allowed for strategic investments in expanding production capacity, promoting sustainable innovation, and accelerating digital transformation. The PFN/EBITDA ratio was 1x, down 0.3 percentage points from 2023.
Cristina Scocchia, the CEO of illycaffè, commented, “2024 was the third consecutive year of substantial organic growth. Despite a difficult macroeconomic and geopolitical landscape, along with persistently increasing raw material costs, we achieved double – digit growth in both EBITDA and net profit. Over the past year, we hastened our sustainable innovation initiatives and international expansion strategies, which were initiated three years ago.”
Looking ahead to 2025, Scocchia noted, “Our industry faces challenges in 2025, especially due to the soaring costs of raw materials. After increasing by around 40% in 2024, these costs have now doubled. We are determined to counteract the margin impact of rising green coffee prices while continuing to invest in innovation and international growth. Additionally, we reconfirm our €120 million investment plan to double our production and logistics capacity in Trieste.”
In light of these record – breaking figures, illycaffè has announced that it will distribute €1 million (US$1.08 million) in bonuses to its over 1,000 employees globally. This is to acknowledge their dedication and contributions to the company’s success.
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