Vending machines in Italy contributed 83% of IVS Group’s €281.6m ($302.6m) half-year sales, with the Bergamo-based business also reporting a 49% increase in transactions across its European network
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IVS Group operates vending machines in Italy, France, Spain, Germany, Poland, Portugal and Switzerland | Photo credit: IVS Group
IVS Group has posted strong half-year results following increased activity across its 292,300-strong European vending machine network.
The Bergamo-based business achieved 52% year-on-year sales growth in its vending segment during the six months ended 30 June 2023 to reach €281.6m ($302.6m).
Vending sales in IVS Group’s domestic market increased 55% to €235.8m ($253.4m), with the company’s business in France and Spain growing 23% and 29% to reach €24.3m ($26m) and €18.8m ($20.2m) respectively.
Italy currently generates 83% of IVS Group’s total vending sales.
IVS Group also operates vending machines across Germany, Poland, Portugal and Switzerland, which contributed sales of €5.9m ($6.3m) during the period, a 339% rise on the same six months in 2022.
The vending machine operator reported a 49% year-on-year increase in the total number of vending transactions to 515.5 million during the period, with the average price of each purchase increasing 3% to €0.51 ($0.55).
IVS Group forecasts reaching one billion vends for the full year 2023, which would represent a first for the business. The company reported 825 million vends in 2022.
In the horeca segment, which IVS Group entered following the acquisition of Umbria-based vending company Liomatic in August 2022, revenues reached €11.6m ($12.5m).
IVS Group, which also supplies Nespresso and Lavazza self-serve coffee pod machines for offices across Italy, achieved 88% total year-on-year sales growth to reach €370.9m ($398.6m).