The Swiss automated coffee and food vending operator has reported strong 2022 sales, surpassing expectations despite Covid restrictions earlier in the year, high inflation and slow economic growth across Europe
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Average daily sales from Selecta's vending machines grew 25% year-on-year to reach a record-high of €11.60 | Photo credit: Selecta Group
Selecta Group has credited the roll-out of its tailored vending solutions, the removal of underperforming machines and the recovery of footfall in European workplaces as driving its strong revenue growth in 2022.
The Cham-based automated coffee and food vending operator achieved 13% group sales growth in the 12 months ended 31 December to reach €1.2bn ($1.2bn).
The company cited price increases and the removal of underperforming machines as contributing to adjusted EBITDA of €217m ($230m), a 9% rise on the same period in 2021.
Selecta Group said average daily sales from its vending machines, which include the We Proudly Serve Starbucks, Nescafé, Pelican Rouge, Lavazza and Miofino brands, grew 25% year-on-year to reach a record-high of €11.60 ($12.30).
Selecta Group said vending sales growth was driven by the recovery of machines in private sector locations and the strong performance of machines in public places, including transport hubs, service stations and leisure locations.
The Swiss company added that 2022 marked ‘a turning point in Selecta’s transformation’ from a decentralised company ‘with no organic growth and high-cost structure’ to a European foodtech leader.
Among the new propositions driving the turnaround, Selecta Group cited a 90% growth in installations of its self-serve, mart fridge Foodies micromarket last year, alongside the launch of its self-serve stores in petrol stations in the Netherlands.
Executive Chairman Joe Plumeri said Selecta Group exceeded in 2022 amid rising inflation, slow economic growth and the pandemic restrictions at the start of last year.
“Despite facing Covid, inflation, and slow economic growth in Europe during 2022, we are proud to say that Selecta overachieved its targets. We delivered strong organic growth in 2022 by understanding our clients’ needs and delivering tailored solutions which bring value to our clients and consumers,” he said.
Selecta Group serves premium coffee and beverages, snacks and fresh meals to more than 10 million people across 16 European countries each day.