JDE Peet's FY 2021 organic sales rise 6.1%

Coffee company JDE Peet's N.V. said its fiscal-year 2021 organic sales rose 6.1%, and expects sales to climb by 7.9% in the first half of 2022.

"2021 marked the year where we refocused on our founding entrepreneurial values," said JDE Peet's chief executive Fabien Simon. "We set out our new strategic framework, reinvested in our powerful portfolio, and reinforced our operational discipline, including taking the lead on pricing in the majority of our markets. As a result, our organic sales growth accelerated, the absolute margin per cup increased, so did the free cash flow generation."

JDE Peet's 2021 highlights

• Deliberate increase in investments for growth (>EUR 110 mln), self-funded by gross profit up +5%.
• Solid market shares, while leading on price increases in the majority of geographies and categories.
• Organic adjusted EBIT up +1.5% to EUR 1,304 million.
• Free cash flow increased to EUR 1,368 million and leverage reduced to below 2.7x.
• Underlying EPS up +13.7% to EUR 1.79.
• Stepping up the progress on sustainability and raising the ambition.
• Proposal to pay a cash dividend of EUR 0.70 per share in two equal installments.

JDE Peet’s describes itself as world's leading pure-play coffee and tea company, serving about 4,500 cups of coffee or tea per second.