illycaffè Achieves Record Growth in 2024 with 42% Surge in Net Profit

illycaffè closes 2024 with record-breaking financial results: €630 million in consolidated revenues (+6%), a 42% rise in net profit, and a 19% EBITDA increase—marking its third consecutive year of double-digit profitability growth. The company also awarded a €1 million bonus to employees in recognition of their contribution. Explore the full financial highlights and CEO insights.
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illycaffè S.p.A. has reported exceptional financial results for 2024, marking a third consecutive year of double-digit profitability growth. Consolidated revenues reached €630 million, a 6% increase from 2023, driven by strong organic performance across all major markets and sales channels.

The company recorded an EBITDA of €110 million, up 19% from the previous year, with an improved margin of 17.5% of revenues. EBIT rose to €61 million—an impressive 50% increase—while net profit surpassed €33 million, up 42% year-over-year. The company’s Net Financial Position improved to €109 million, backed by strong cash generation and disciplined investment.

In recognition of this record performance, illycaffè announced a €1 million bonus to its global workforce of over 1,000 employees.

CEO Cristina Scocchia commented:
“2024 marked another year of robust organic growth despite a challenging macroeconomic and geopolitical context. We accelerated our sustainability and international expansion strategies and achieved outstanding financial results thanks to the commitment of our team. Looking ahead to 2025, we will navigate rising raw material costs while continuing to invest in innovation and expansion, including our €120 million plan to double production and logistics capacity in Trieste.”

Geographic and Channel Highlights:

• Key Markets: Strong revenue growth in Italy, the U.S. (+11%), Spain, France, and the UK

• Distribution Channels:

  • Ho.Re.Ca. grew ~6%

  • Modern Distribution up 10%, notably in Italy, U.S., UK, and Spain

  • Online sales in the U.S. surged 18%

In Italy, illycaffè further strengthened its leadership in the super-premium coffee segment. In the U.S.—the company’s priority market—growth was broad-based across all channels. The company continues to focus on sustainable innovation and digital transformation to support future expansion.