AIRLINK 62.48 Increased By ▲ 2.05 (3.39%)
BOP 5.36 Increased By ▲ 0.01 (0.19%)
CNERGY 4.58 Decreased By ▼ -0.02 (-0.43%)
DFML 15.50 Increased By ▲ 0.66 (4.45%)
DGKC 66.40 Increased By ▲ 1.60 (2.47%)
FCCL 17.59 Increased By ▲ 0.73 (4.33%)
FFBL 27.70 Increased By ▲ 2.95 (11.92%)
FFL 9.27 Increased By ▲ 0.21 (2.32%)
GGL 10.06 Increased By ▲ 0.10 (1%)
HBL 105.70 Increased By ▲ 1.49 (1.43%)
HUBC 122.30 Increased By ▲ 4.78 (4.07%)
HUMNL 6.60 Increased By ▲ 0.06 (0.92%)
KEL 4.50 Decreased By ▼ -0.05 (-1.1%)
KOSM 4.48 Decreased By ▼ -0.09 (-1.97%)
MLCF 36.20 Increased By ▲ 0.79 (2.23%)
OGDC 122.92 Increased By ▲ 0.53 (0.43%)
PAEL 23.00 Increased By ▲ 1.09 (4.97%)
PIAA 29.34 Increased By ▲ 2.05 (7.51%)
PIBTL 5.80 Decreased By ▼ -0.14 (-2.36%)
PPL 107.50 Increased By ▲ 0.13 (0.12%)
PRL 27.25 Increased By ▲ 0.74 (2.79%)
PTC 18.07 Increased By ▲ 1.97 (12.24%)
SEARL 53.00 Decreased By ▼ -0.63 (-1.17%)
SNGP 63.21 Increased By ▲ 2.01 (3.28%)
SSGC 10.80 Increased By ▲ 0.05 (0.47%)
TELE 9.20 Increased By ▲ 0.71 (8.36%)
TPLP 11.44 Increased By ▲ 0.86 (8.13%)
TRG 70.86 Increased By ▲ 0.95 (1.36%)
UNITY 23.62 Increased By ▲ 0.11 (0.47%)
WTL 1.28 No Change ▼ 0.00 (0%)
BR100 6,944 Increased By 65.8 (0.96%)
BR30 22,827 Increased By 258.6 (1.15%)
KSE100 67,142 Increased By 594.3 (0.89%)
KSE30 22,090 Increased By 175.1 (0.8%)
Markets

Coffee maker Lavazza sees full sales rebound in 2021, eyes M&A

  • Last year the family-owned company recorded sales worth 2.085 billion euros as its retail business only partly compensated for a drop in out-of-home coffee consumption.
  • Earnings before interest, taxes, depreciation, and amortisation (EBITDA) came in at 253 million euros in 2020, down 13% on 2019.
Published April 1, 2021

MILAN: Italian coffee maker Lavazza expects revenue to rebound this year, reaching at least the 2.2 billion euro ($2.58 billion) it achieved in 2019, and continues to look for M&A opportunities, its CEO said on Thursday.

Last year the family-owned company recorded sales worth 2.085 billion euros as its retail business only partly compensated for a drop in out-of-home coffee consumption.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) came in at 253 million euros in 2020, down 13% on 2019.

The group also wants to bring EBITDA back to the level reached in 2019 or just below it, CEO Antonio Baravalle told an online news conference.

Despite the negative impact of the pandemic on coffee consumption in bars, restaurants and offices, the group ended 2020 with a positive net financial position of 102 million euros.

"If we see M&A opportunities we will try to seize them, albeit with great attention to the economic and financial aspects," said Baravalle, adding the group did not have any concrete acquisition plans on the table at the moment.

The pandemic did not stop investments at the group, the CEO said, adding the coffee maker would spend a total of 50 million euros in 2020-2021 period to reduce its carbon footprint and reach carbon neutrality by 2030.

The next step will be to make all of its packaging reusable, recyclable or compostable by 2025.

The Turin-based group is not planning a bourse listing at the moment as it makes the financial resources it needs and its shareholders are not looking for an exit strategy, the CEO said.

Baravalle also said he hoped sales in restaurants and bars and coffee consumption in offices would recover gradually, adding the group did not plan to change its long-term strategy to expand in all the three businesses.

Comments

Comments are closed.