Lavazza has reported full-year turnover of €2.31 billion, driven by sales recovery in the out-of-home channel.
The company’s EBITDA stood at €312 million, up 23.3% on the previous year. Meanwhile, Lavazza’s net profit came in at €105 million, an increase of 44% on the €73 million recorded in 2020.
The Italian coffee manufacturer said it expects a challenging 2022, due to factors including the rising prices of raw materials.
Having decided to suspend all its activities in Russia due to the war, Lavazza said that “besides international sanctions and the fall in value of the rouble, the main effects are being felt on the raw materials for which Russia and Ukraine are leading producers and exporters, such as gas, oil and metals”.
Lavazza CEO, Antonio Baravalle, said: “The excellent 2021 results are not only a significant milestone for our Group but also the springboard to tackle an extremely complex and challenging year, due to the rise in the price of all the raw materials we use – first and foremost green coffee, but also packaging, energy, logistics – and the risks deriving from the dramatic current geopolitical situation”.
© FoodBev Media Ltd 2022
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