MILAN, Italy – The Board of Directors of illycaffè S.p.A. has approved the interim report for the first trimester of 2023. Cristina Scocchia, CEO of illycaffè commented as follows: “We are very pleased with the results of the first trimester, which saw strong organic growth that outperformed the market, and an excellent increase in profitability.
Our performance in this first trimester confirms the efficacy of the strategic initiatives adopted in 2022, both in terms of growth and operational efficiency, and allow us to look at the rest of the year with optimism.”
Consolidated revenue grew by 13.2% compared to the previous year thanks to solid organic growth, led by all the main markets and distribution channels.
Looking at the main markets, in Italy revenue grew by 10.7% compared to 2022 while in the United States revenue grew by 27.7% compared to 2022.
Regarding distribution channels, Ho.Re.Ca. drove growth by recording an increase in revenue by 26.3% compared to 2022, supported by a constant increase in the number of clients and by an increase in average consumption.
All the main profitability indicators were double-digit growth compared to 2022.