Coffee Service

Lavazza boosts 2021 results on COVID recovery

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April 18, 2022

Lavazza, the Turin, Italy based coffee and coffee equipment manufacturer, boosted its sales and earnings in 2021 on account of the recovery from the coronavirus pandemic setback, according to a Reuters report.

Revenues rose 11% to 2.3 billion euros ($2.49 billion) in 2021 over 2020, thanks to a recovery in the "out of home" channel following a slowdown caused by the coronavirus pandemic.

Earnings before interest, taxes, depreciation and amortization rose 23.3% to 312 million euros ($337.18 million) over the prior year.

The company, which on March 10 suspended its activities in Russia and temporarily halted distribution in Ukraine, said it expects a difficult 2022 on account of raw material price increases.

Green coffee, packaging, energy, logistics and the risks caused by the geopolitical situation have created challenges for 2022, Chief Executive Antonio Baravalle said in the report.

The price increases were mostly caused by global supply chain issues and weather created damage.

For an update on how the coronavirus pandemic has affected convenience services, click here.