Who we are
2024 Results
In 2024, our Group reported revenues of 3.35 billion euros, an increase of 9.1% on 2023.
Business Highlights
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EBITDA standing at €312 million euros
An increase (+18.6%) on the 263 million euros reported in 2023, with an EBITDA margin of 9.3%.
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Net profit: 82 million euros
Compared to 68 million euros last year (+20.6%). The net financial position was a negative 511 million euros due to extraordinary operations and in particular the public tender offer targeting IVS Group (IVSG) during the year.
Financial 2024 saw a further spike in coffee prices, with increases of over 70% for both Arabica and Robusta compared to 2023, a trend that has continued in the early months of 2025.
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 fall 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 issues 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 developing our People and our investment capacity, which is key to remaining competitive on the global coffee market.
Geographies
Geographical diversification has been key to successfully absorbing negative impacts in Europe, confirming our Group’s resilience and ability to react to a difficult competitive environment. This has allowed us to focus our energies on growth in the United States, with a 12% increase in turnover, and to maintain a significant presence and a leadership role in mature European markets where, despite the fall in volumes, turnover is up in key geographies, such as Italy and France for example (+4% and +2% respectively).
Channels
Our Group’s turnover rose in both the Home and Out Of Home channels to 3.35 billion euros, up +9.1% on the previous year.
Acquisitions
The structure of the operation targeting IVS Group – the leading vending operator in Italy and second ranking in the European Union – resulted in the acquisition by tender offer of 49% of IVSG and the group’s subsequent delisting. The operation establishes that the options may be exercised as of 2027.
