Italian coffee company Lavazza says 2018 was a year of growth and increased profitability.
In a statement, Lavazza Group CEO Antonio Baravalle (shown here) said, “2018 was a year of solid growth characterized by increased operating profit, continuous strengthening of our brand and strong expansion in Italy and foreign markets.”
“We continued to invest in the innovation of our offering and, thanks to the acquisitions of the Australian company Blue Pod and the drinks business of Mars in the automatic vending sector, we have further strengthened our direct operations in all coffee segments,” Mr Baravalle said.
Consolidated revenues amounted to €1.87 billion, up 9.3% compared to €1.71 billion in the previous year. The company said the growth was attributable to the integration of businesses acquired in 2017 and to good performance in Italy, France, North America, Eastern Europe and the UK.
In Italy, which accounts for around 36 per cent of total revenues, Lavazza Group maintained its position in all channels thanks to the broadening of its commercial offering in the single serve segment, which it said continues to be the most dynamic in the retail segment, and of its commercial operations in the out-of-home sector.