illycaffè Reports Exceptional Growth in 2024 with Significant Profit Increases

illycaffè Achieves Remarkable Milestones in 2024

illycaffè S.p.A. has announced outstanding results for the financial year 2024, reporting a remarkable consolidated revenue of €630 million, reflecting a solid 6% growth from the previous year. The company's performance underscores its robust strategy and adaptability in a competitive coffee market. This growth was driven primarily by increased sales volumes across key markets, especially in Italy, the United States, Spain, France, and the United Kingdom.

One of the most significant highlights of this year is the increase in earnings before interest, taxes, depreciation, and amortization (EBITDA), which reached €110 million—an exceptional rise of 19% from 2023. The impressive EBITDA margin improved to 17.5%, showcasing an effective management of resources and operating efficiencies. Meanwhile, the net operating margin (EBIT) surged to €61 million, marking a substantial 50% increase compared to the prior year, thanks to the company's focus on both revenue growth and cost management.

The net profit of illycaffè surpassed €33 million, registering a significant year-over-year surge of 42%. Such financial results affirm the company's strong market position and strategic execution. In addition, illycaffè's net financial position stood at €109 million, reflecting a 10% improvement, allowing the company to commit to strategic investments aimed at enhancing production capabilities, promoting sustainable innovations, and accelerating digital transformation initiatives.

In a gesture of appreciation for the hard work and dedication of its employees, illycaffè plans to distribute a special bonus of €1 million among its workforce of over 1,000 individuals. The company’s CEO, Cristina Scocchia, emphasized the importance of this recognition, noting that employees have played an integral role in achieving these outstanding results, especially considering the challenging macroeconomic conditions observed in recent years.

Despite facing hurdles such as surging raw material costs, which more than doubled after experiencing a previous rise of approximately 40% in 2024, illycaffè remains committed to navigating these obstacles. The company's plans include continuing investments in innovation while maintaining efforts to manage the impact on profit margins from rising coffee prices. To reinforce its operational capabilities, illycaffè has reaffirmed a substantial investment plan totaling €120 million, designed to double its production and logistics capacity in its headquarters located in Trieste.

Geographically, illycaffè observed growth across all major markets in 2024, consolidating its leadership in the super-premium coffee segment particularly in Italy. Notably, the United States marked a considerable growth of 11% compared to 2023, driven by all distribution channels, especially through online sales, which surged by an impressive 18%.

The company also reported healthy performance from the Ho.Re.Ca. (Hotels, Restaurants, and Cafés) channel, which saw a 6% increase year-over-year, alongside a remarkable 10% boost in revenues from the Modern Distribution channel, particularly in key markets like Italy, the United States, the United Kingdom, and Spain.

A Legacy of Quality Coffee

Founded in Trieste in 1933, illycaffè has built its reputation on delivering the highest quality coffee to consumers worldwide, specializing in a unique 100% Arabica blend. The company's vital commitment to quality was recognized with the establishment of the first “Ernesto Illy Award for quality espresso coffee” in Brazil in 1991, and later with the “Ernesto Illy International Coffee Award” in 2016, highlighting its dedication to coffee growers and sustainable practices.

In 2019, illycaffè adopted the Società Benefit status under Italian law, and in 2021, the company became the first Italian coffee brand to achieve B Corp certification, affirming its adherence to elevated environmental and social performance standards. With operations in over 140 countries, illycaffè continues to uphold its mission of providing exceptional coffee and championing sustainable practices in the industry.