Illycaffè net profit up 40 per cent in 2018

Italian coffee roaster illycaffè has reported a net profit of €18.1 million (about US$20.3 million) for 2018, a growth of almost 40 per cent over the prior year. Consolidated revenues for the year reached €483 million (about US$541 million), up 3.5 per cent on the year. Earnings before interest, tax, depreciation and amortisation reached €75.3 million (about US$84.3 million) in 2018, growing 10.7 per cent compared with 2017. Read more:
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• illycaffè and Jacobs Douwe Egberts announce capsule licensing agreement “This is the result of increased efficiency and decisive actions on our core business, the portioned market and the restaurant/hotel sector,” illycaffè CEO Massimiliano Pogliani says. “Last year we were able to feed our growth by focusing our strategy on three pillars: broadening our global leadership as quality product provider in the premium hospitality sector, continuing to develop our mono-brand retail channel globally, increasing our market share in the portioned system sector. On this last point, we signed an important agreement with JAB Holding to produce and distribute globally illy-branded aluminium capsules through the [Jacobs Douwe Egberts] platform. This new product will hit the stores in the following weeks, increasing our market share in Italy and abroad and further establishing our positioning in the higher range of the market.” Illycaffè says its foreign markets continue to play a growing role in its business, with sales outside Italy contributing 65 per cent of total revenues. The North-American and Chinese market were the fastest-growing globally, with revenue increasing 8.4 and 12.2 per cent on the previous year, respectively.