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Today we presented our Group’s 2024 results.
In 2024, we recorded revenues of 3.35 billion euros, an increase of 9.1% on 2023, confirming our continued growth in a difficult macroeconomic and geopolitical scenario.
The persistent increase in the cost of raw materials and continuing inflation have driven up consumer prices, negatively impacting consumers’ purchasing power in all markets and geographical areas.
This phenomenon has led to a decrease in sales volumes, causing an average contraction in the global coffee market of about 3.5% in the last two years alone, demonstrating the difficulties faced by the industry as a whole. We have tackled these turbulent times with a sharp focus on the management of operating and capital costs at all levels. Maintaining profitability was central to our Group’s strategy with a view to protecting and sustaining the development of our People and our investment capacity, which is key to remaining competitive on the global coffee market.
“2024 was the first full year since the acquisition of MaxiCoffee in March 2023 and the results have confirmed expectations, reporting consistent sales and strengthening Lavazza Group’s multibrand strategy. In addition, the public tender offer launched last April for IVS Group, and the possibility of exercising the options starting in 2027, would help consolidate the Group’s position, ensuring the future expansion of our portfolio and capacity, with a special focus on the Automatic Vending and OCS (Office Coffee Service) channels”, emphasised our Group’s CEO, Antonio Baravalle.