In 2023, our Group reported revenues of €3.1 billion, an increase of 13% on 2022, confirming the financial strength of the business.
EBITDA at €263 million
A fall on €309 million in 2022, with an EDITDA margin standing at 8.6%.
Group strategy was to limit consumer price increases in an inflationary environment, absorbing part of the cost increases within its margins.
Net profit: €68 million
The net financial position at 2023 year end was a negative €292 million, reflecting extraordinary operations during the year and particularly the acquisition of MaxiCoffee, completed in 2023.
Geographies
Geographically, sales by value rose in Retail channels 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.
Channels
Despite the challenging macroeconomic scenario, our Group recorded steady, continuous turnover growth in both the Home and Out-Of-Home channels. The most significant growth was in e-commerce, up +28% on the previous year, strengthening our presence in the B2C/consumer market.
Segments
The Beans segment continues to grow, and this year too proved to be the most dynamic on the market. Taking into account the 15 main geographical regions in which we operate, this market segment increased +6.6% on 2022. In this growing segment, our Group gained market share as a result of 9.1% growth vs 2022. In the Single Serve (capsules) segment too, our Group gained market share thanks to the completion of the launch of the updated NCC* range in aluminium, with value growth of 15.3% vs 2022.
*NCC: aluminium capsules compatible with Nespresso Original machines (Nespresso Compatible Capsules). Lavazza is neither an affiliate of nor promoted or sponsored by Nespresso.
