The Board of Directors of illycaffè S.p.A. approved the interim financial report for the first half of 2023.
According to the company, profitability increased by 21 per cent compared to the previous year, thanks to organic growth in all major markets and greater operational efficiency.
“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,” says Cristina Scocchia, CEO of illycaffè.
Scocchia says at channel level, there was a strong boost in the out-of-home market of more than 16 per cent, confirming illycaffè’s leadership position in the super premium segment.
“We have decided to accelerate in China, and I am happy to announce that we have just finalised 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,” she says.
“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.”
Consolidated revenues of illycaffè in the first half of 2023 recorded an increase of 5 per cent compared to 2022, with a particularly positive result in the US which grew in all the main distribution channels and despite an unfavourable exchange rate impact.
In particular, the hotel, restaurant, and café channel recorded a 27 per cent growth rate supported by a double-digit new customer acquisition rate and a trend of constant increase in average consumption per customer. The e-tailer channel recorded a 20 per cent growth mainly driven by Amazon.
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