New hot and iced coffee machines boost ‘record’ 2022 revenues for Costa Express

Costa said its new self-serve machines, capable of producing hot and iced beverages, are a ‘world first’ | Photo credit: Costa Coffee

Costa Express has credited robust self-serve unit growth and the ongoing roll-out of its hot and iced coffee machines in the UK for generating record 2022 revenues. 
 

The business achieved 5% revenue growth in the 12 months ended 31 December 2022 to reach £348m ($424m). The business also posted a 1% increase in profits to £61m ($74m). 

Costa Coffee installed nearly 1,500 net new Costa Express machines last year to exceed 14,600 units globally, including placements of new self-serve machines across several cities in the UK which are capable of serving both hot and iced beverages – a 'world first' according to the coffee chain.  

With iced coffee now accounting for one in five Costa Coffee purchases globally, the business said further roll-out of the machines will deliver a new ‘level of growth’ for Costa Express. 

“Costa Express continued to innovate in respect of its coffee vending technology and invest in its sales, marketing and customer service departments through the year. The company has started to roll out the world’s first integrated hot and cold beverage machine, with placements in several cities across the UK,” the directors of Costa Express said in a statement. 

Costa Coffee has operated Costa Express self-serve coffee machines in third-party shops, petrol and service stations, leisure sites and offices since 2011, when it acquired Coffee Nation for £59.5m ($77.3m).  

Following further unit growth in the first half of 2023, the Costa Express network now comprises 13,200 UK vending machines and more than 1,600 units across 20 international markets. 

World Coffee Portal research found Costa Express currently holds a 64% market share of the UK’s consumer-facing premium coffee vending machine network, which stands at 20,771 units.   

Manchester-based Absolute Coffee is the second largest operator by units in the UK with 1,500, ahead of We Proudly Serve Starbucks which has 1,100 machines.