The automated coffee and food operator saw revenues and pre-tax profits grow in 2021 as Covid-19 trading restrictions and work-from-home policies were relaxed across Europe – but trading still lags behind pre-pandemic levels
.jpg.aspx?lang=en-GB&width=700&height=466)
Selecta vending machines in Frankfurt railway station, Germany | Photo credit: Selecta Group
Selecta is seeing a gradual recovery of sales in Europe as key markets wind down work-from-home polices and Covid-19 trading restrictions ease. Nevertheless, the company’s fourth quarter sales remained down by a fifth compared to 2019 levels as it grappled with fresh Covid-19 outbreaks towards the end of 2021.
Reporting its full-year results to 31 December 2021, the coffee and food vending machine operator posted revenues of €1.04bn ($1.2bn), an increase of 3.2% compared to the same period in 2020.
Despite ‘continuous’ headwinds from lockdowns and work-from-home policies in Europe, Selecta reported pre-tax profits of €199.3m ($220m) for the period – an increase of €114.1m ($126m) compared to 2020.
Selecta said its key markets in France, the UK, Republic of Ireland, Spain, and Italy, had been the most affected by the pandemic due to
government-mandated work-from-home policies, but had experienced strong year-on-year sales increases over the year.
Indicating a slow but sustained recovery from the pandemic, the Switzerland-based company said its fourth quarter results had reached 79% of 2019 levels.
“As European countries begin removing their Covid restrictions, we remain convinced that Selecta has the solutions needed to address the needs of the post-Covid world. Our 24/7, flexible, scalable food & beverage options cater beautifully to the new hybrid working models in place across companies. Combined with our strong partnerships with the A-brands in food, beverages and machine technologies, we have the foundation in place for sustainable future growth,”
Selecta operates We Proudly Serve Starbucks, Nescafé, Pelican Rouge, Lavazza and Miofino branded self-serve coffee machines across Europe. The company maintains a presence across workplaces, healthcare facilities, transport hubs, service stations, retail, and leisure locations.