Coffee Service

Illycaffè boosts half-year 2023 sales, profits

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July 25, 2023

Illycaffè reported significant sales and profit gains for the first half of 2023 over the prior year, according to a press release.

Consolidated revenues increased 5% compared to 2022, with a particularly positive result in the U.S. of 16%, which grew in all the main distribution channels despite an unfavorable exchange rate impact.

In particular, the hotels, restaurants and cafes channel recorded a 27% growth rate supported by a double-digit new customer acquisition rate and by a trend of constant increase in average consumption per customer.

The e-tailer channel recorded a 20% growth mainly driven by Amazon.

Group profitability increased by 21% 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," Cristina Scocchia, CEO, said in the press release. "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. At channel level, there was a strong boost in out-of-home (16%), confirming our leadership position in the super-premium segment."