Saturday 15 June 2024
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illycaffè reports 1H revenues up 5% YoY, Ho.Re.Ca. channel records a 27% growth rate

Cristina Scocchia, CEO of illycaffè, commented: “We are satisfied with the results for the first half of 2023. The growth in all the main markets, particularly in the United States and in the key countries of the Eurozone, demonstrates the effectiveness of the strategies outlined in the business plan"

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MILAN, Italy – The Board of Directors of illycaffè S.p.A. approved the interim financial report for the first half of 2023. Consolidated revenues of illycaffè in the first half of 2023 recorded an increase of 5% compared to 2022, with a particularly positive result in the United States (+16%) which grew in all the main distribution channels and despite an unfavorable exchange rate impact.

In particular, the Ho.Re.Ca. channel recorded a 27% growth rate supported by a double-digit new customer acquisition rate and by a trend of constant increase in average consumption per customer.

The e-tailer channel recorded a 20% growth mainly driven by Amazon. Group profitability increased by 21% compared to the previous year, thanks to organic growth in all major markets and greater operational efficiency.

Cristina Scocchia, CEO of illycaffè, commented: “We are satisfied with the results for the first half of 2023. The growth in all the main markets, particularly in the United States and in the key countries of the Eurozone, demonstrates the effectiveness of the strategies outlined in the business plan.

At channel level, there was a strong boost in out-of-home (+16%), confirming our leadership position in the super premium segment.

We have decided to accelerate in China, and I am happy to announce that we have just finalized an exclusive distribution agreement for three years with Hangzhou Onechance Tech Group (Chancemate), listed on the Shenzhen Stock Exchange with a market capitalization of over 800 million euros.

Gimoka

Thanks to this partnership, we will strengthen our presence in the HOME channels, particularly online, with the aim of tripling our business over the plan period”.

CIMBALI

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