Illycaffè reported a solid financial performance in 2024, with revenue reaching €630 million, a 6% increase year-on-year, driven by higher coffee sales volumes across key markets, including Italy, the United States, Spain, France, and the United Kingdom.
Profitability improved significantly, with EBITDA rising 19% to €110 million, supported by organic growth and increased sales volumes. The EBITDA margin expanded to 17.5%, up 1.9 percentage points from the previous year. Operating profit surged 50% to €61 million, while net profit climbed 42% to exceed €33 million, in line with EBITDA growth.
The company’s net financial position strengthened, improving 10% to €109 million, aided by strong cash flow generation. This financial resilience enabled strategic investments in expanding production capacity, driving sustainable innovation, and accelerating digital transformation.
MARKET AND CHANNEL PERFORMANCE OF ILLYCAFFÈ
All key markets delivered year-on-year growth. Illycaffè reinforced its leadership in the super-premium segment in Italy, while Spain, France, and the United Kingdom drove European growth. In the United States, a priority market, sales rose 11% across all distribution channels, with online sales advancing 18%.
Across sales channels, the Horeca segment expanded by approximately 6%, with particularly strong momentum in Italy, the U.S., Spain, and France. Revenue from modern retail distribution increased 10%, led by growth in Italy, the U.S., the U.K., and Spain.
OUTLOOK FOR 2025
Following its strong performance, Illycaffè has awarded a €1 million bonus to more than 1,000 employees worldwide.
CEO Cristina Scocchia (pictured) highlighted the company’s “strong organic growth for the third consecutive year despite macroeconomic and geopolitical headwinds, as well as rising raw material costs.” She also underscored Illycaffè’s ongoing push for sustainable innovation and international expansion.
Looking ahead, 2025 is expected to present challenges, with green coffee prices set to double after a 40% increase in 2024. The company aims to mitigate margin pressures while maintaining its commitment to innovation and global expansion. Illycaffè reaffirmed its €120 million investment plan to double production and logistics capacity in Trieste.