The results for 2018 reflect solid and profitable growth for Lavazza. The Group continues to pursue its internationalization strategy, with foreign markets now generating 64% of revenues.
• Revenues: €1.87 billion, up 9.3% compared to €1.71 billion in 20172 (organic growth = 6.6%)
• EBITDA: €197.3 million, up 6.2% compared to €185.8 million in 2017, with an EBITDA margin of 10.6%, in line with the previous year
• Adjusted EBITDA3: €206.5 million, up 9% compared to €189.5 million in 2017
• EBIT: €110.7 million, up 2.0% compared to €108.5 million in 2017, with an EBIT margin of 5.9%, in line with the previous year
• Net profits: €87.9 million, up 12.9% compared to €77.9 million in 2017
• Net financial position: €15.0 million against €503.0 million in 2017 due to acquisitions completed in 2018 and significant cash generation
The Board of Directors of Lavazza has examined and approved the company’s draft financial statements and consolidated financial statements at 31 December 2018, the latter drawn up for the first time according to IFRS international accounting standards.
“2018 was a year of solid growth characterized by increased operating profitability, continuous strengthening of our brand and strong expansion both in Italy and foreign markets, in particular in France, North America, Eastern Europe and the UK,” commented Lavazza Group CEO Antonio Baravalle. “We continued to invest in the innovation of our offering and, thanks to the acquisitions of the Australian company Blue Pod and the drinks business of Mars Inc. in the automatic vending sector, we have further strengthened our direct operations in all coffee segments. We consolidated the development of our governance by adopting advanced risk management systems and by appointing Enrico Cavatorta, a top manager with in-depth knowledge of international business, as Chief Financial and Corporate Officer. 2019 will be a year of further expansion driven by both the integration of our acquisitions and the Group’s organic growth.”
