Jde Peet’s posts first-half organic sales of EUR 5,045 million (+22.5%), basic EPS of EUR 0.86 (+16.2%)

AMSTERDAM, The Netherlands – JDE Peet’s, the world’s leading pure-play coffee company, reported today half-year results for 2025. Organic sales were up +22.5% at EUR 5,045 million, driven by +21.5% price and +1.0% volume/mix, while reported sales rose by 19.8%. Organic adjusted gross profit increased by 2.2%; reported gross profit was down -8.7%.

Organic adjusted EBIT rose by 2.0%. Free cash flow amounted to EUR 565 million with net leverage at 2.5x.

The company reported an underlying EPS of EUR 1.33 (up +3.4% to EUR 1.02 excluding fair value change in equity derivatives). Reported EPS amounted to EUR 0.86. 38% of 2025 EUR 250 million share buyback is completed.

Rafa Oliveira, CEO of JDE Peet’s, stated:

“We are very pleased with our business and financial results in the first half of 2025. Our performance was broad-based and strong across top-line, profitability and cash flow, despite operating in a challenging environment that continues to be characterised by persistently high green coffee prices. In the first half of the year, we launched a range of new products to address evolving consumer needs and unlock new occasions, including Peet’s unique Popping Pearls, L’OR Coconut Iced Espresso, Jacobs Dubai Chocolate, and Moccona Liquid Espresso sachets— each designed to expand our portfolio and enhance relevance across markets and formats.

We made solid progress on the five key priorities we set at the start of the year to simplify our operating model and optimise resource allocation. Notable actions include the divestment of our tea business in Turkey, the discontinuation of the roll-out of the L’OR Barista machine in the U.S., and the transfer of the L’OR capsules business in the U.S. to Peet’s. In addition, we announced the intended closure of our factory in Banbury, U.K, the optimisation of the operating model in Europe, and the centralisation of Finance transactional activities within a Global Business Services model.

On July 1, 2025, we unveiled our new strategy: “Reignite the Amazing”, aimed at driving sustainable value creation. The strategy is brand-led and centred around three Big Bets: Peet’s, L’OR and 10 local icons led by Jacobs. It is underpinned by a three-phase strategic framework designed to support the company’s transformation and the delivery of our new medium-term targets.

Given our strong performance in the first half of the year and our expectations for the second half — including the dynamics related to volatile green coffee prices and the necessary measures these require — we are confident in raising our full-year outlook for top-line and adjusted EBIT.”

Strategic Update

At its Capital Markets Day on July 1, 2025, JDE Peet’s introduced its new strategy: “Reignite the Amazing”, aimed at driving sustainable value creation. This brand-led strategy is centred around three Big Bets: Peet’s, L’OR and 10 local icons led by Jacobs. These brands have been selected because of their ability to meet both current and emerging consumer needs, driving long-term growth and market relevance. Underpinning this transformation is a three-phase strategic framework designed to:

• Simplify the portfolio and organizational model;
• Boost operational efficiency and productivity;
• Deliver EUR 500 million in savings, with more than 50% achieved by the end of 2027;
• Reinvest 50% of savings into high-potential growth initiatives and selective high-impact capabilities, the remaining 50% will strengthen profitability;
• Expand the company’s global presence through new growth avenues.

In the first half of 2025, the company started to make solid progress in simplifying its operating model and optimising resource allocation, including:

• Divesting its tea business in Turkey to Efor Holding;
• Discontinuing the roll-out of the L’OR Barista machine in the U.S.;
• Transferring the L’OR capsules business in the U.S. to Peet’s to better capture the significant potential of the U.S. coffee market;
• Announcing the intended closure of its factory in Banbury, U.K.;
• Optimising the operating model in Europe by reducing the number of country clusters from 10 to 5, harmonising ways of working across teams, and centralising Finance transactional activities in a Global Business Services model to improve effectiveness and efficiency.

Update on EUR 250 million share buyback programme

On March 3, 2025, JDE Peet’s started a share buyback programme to return up to EUR 250 million to shareholders in 2025. By July 25, 2025, JDE Peet’s had completed 38% of the program and is on track to complete the EUR 250 million programme by year-end.

Green coffee inflation

Green coffee prices experienced a significant increase during the first four months of 2025, followed by an easing of prices in the last two months of the first semester. Green coffee prices were, on average, more than 60% higher in the first half of 2025, compared to the same period last year.

To mitigate the impact of this significant cost inflation, the company continues to implement various measures, including productivity and efficiency initiatives, passing on only what is unavoidable while maintaining affordability for its consumers. As a category leader, JDE Peet’s remains committed to creating value across the entire supply chain— supporting coffee farmers in adopting sustainable practices while delivering consumers and retailers innovative, high-quality and enjoyable coffee products.

Outlook 2025

Taking into account the strong performance in H1 25 as well as the expectations for H2, the company increases its outlook for full-year 2025:

• High-teens organic sales growth (increased);
• At least stable adjusted EBIT on an organic basis (increased); and
• Free cash flow of around EUR 1 billion (unchanged).