Italian coffee company illycaffè has published its half-year results for 2024.
According to the company, its combined revenues amounted to a total of €289.1 million. In comparison to the first half of 2023, this was up by 3.8 per cent at constant exchange rates. Following the results, this figure was driven by major markets and distribution channels.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) were €46.2 million, up 26.2 per cent compared to 2023 which had a margin of 16.0 per cent. This showed an increase of 2.9 per cent points compared to the same period in 2023.
According to the release, illycaffè’s net profit doubled compared to 2023, amounting to a total of €13.6 million. Its net financial position also saw substantial growth by 16.8 per cent compared to June 2023.
Based on the findings, the report demonstrates the company is on a trajectory of growth entering the final stages of 2024.
Founded in 1933, illycaffé is an Italian family business. Andrea Illy is Chair while Christina Scocchia is the current CEO. According to the brand, its mission is to provide international markets with quality coffee through its innovative technology and sustainable practices.
In its commitment to continuous growth and development, the coffee company aims to create long-term value in its products through sustainability, respect of human rights, and excellence.
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