Lavazza Group Full-Year Report 2023

In 2023, our Group reported revenues of €3.1 billion, an increase of 13% on 2022, confirming the financial strength of the business.

In 2023, Lavazza Group faced some major challenges: like 2022, 2023 was another year of rising raw coffee costs, particularly for Robusta, which peaked during the year at close to $3,200/ton and extremely high prices persist.

Highlights

• The Beans segment continues to grow and was the most dynamic on the market again this year: taking into account the 15 main geographical regions in which the Group operates, the segment increased +6.6% on 2022, with Lavazza Group gaining market share by delivering growth of 9.1% compared to 2022.
• In the Single Serve (capsules) segment, thanks in particular to completion of the launch of the updated range of NCC1 capsules, the Group saw value growth of +15.3% vs 2022, compared to 3% growth for the market as a whole, resulting in a gain in market share.
• Geographically, Lavazza Group reported sell-out growth by value in the Retail channel in all markets and particularly in the United States ( +9.8%), Poland(+21%) and the UK (+8.6%); Italy and France (the Group’s most important markets) also recorded increases of 6.3% and 5.8% respectively.
• Group EBITDA stands at €263 million, decreasing from €309 million in 2022, with an EBITDA margin of 8.6% compared to 11.4% in 2022. Group strategy was to limit consumer price increases in an inflationary environment, absorbing part of the cost increases within its margins.
• EBIT amounted to €97 million, falling from €160 million in 2022.
• Net profit totalled €68 million, compared to €95 million last year.
• The net financial position at 2023 year-end was a negative €292 million, reflecting extraordinary operations and particularly the acquisition of MaxiCoffee completed in 2023.