The Italian coffee manufacturer Lavazza reported strong profit growth in 2017, driven by revenue increases in foreign markets and a new acquisition strategy.
Last year, Lavazza’s earnings before interest, taxes, depreciation, and amortization rose by 12.5 percent to 200.8 million euros, according to a business report published on Tuesday. Their revenues increased by 6.3 percent to two billion euros, which is three times the market average increase, emphasized Lavazza’s CEO Antonio Baravalle.
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Sales increased in the United Kingdom, the United States, and France, Lavazza’s second-largest market after its home country of Italy. Foreign markets account for just under two-thirds of the group’s sales.
Recently, Lavazza has acquired several foreign companies – last year they purchased the Canadian organic coffee producer Kicking Horse, as well as the French ESP and the Italian manufacturer of coffee machines and plastic cups Nims.
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– In 2018, we will strongly focus on the organic growth of the group, in line with the guidelines outlined in the strategic plan – internationalization, strengthening brands, and further expanding operational margins, announced CEO Baravalle.
