The Izygem-based coffee chain said its focus on profitable and sustainable growth is bearing fruit, with revenue and EBITDA rising 40% and 60% respectively last year
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An IzyCoffee store in Brussels, Belgium | Photo credit: IzyCoffee/Facebook
Belgian specialty coffee chain IzyCoffee expects to nearly double its revenues this year after posting a second consecutive year of significant sales and EBITDA growth.
IzyCoffee achieved 40% year-on-year sales growth in the 12 months ending 31 December 2023 to reach €2.6m ($2.8m), with EBITDA increasing 61% to €296,288 ($329,000).
The coffee chain’s CEO Bart Buyse is forecasting turnover will reach €5m ($5.5m) this year, with total sales in the first eight months of 2024 100% above the same period of 2023.
“Profitable growth, adding not only financial but also simultaneously social value, bringing specialty coffee in a sustainable manner to the masses. Those are our core aims, missions and values at IzyCoffee,” Buyse said.
Izygem-based IzyCoffee opened four new stores last year to reach 17 sites – and has added four further outlets so far in 2024.
“In consecutive financial rounds we try to increase our presence in numerous markets, opening new IzyCoffee shops at a relatively healthy pace,” Buyse added.
In June 2024, IzyCoffee raised €314,568 ($349,288) in a Crowdcube funding campaign to support the rollout of further stores across Belgium and ‘build the foundations’ for planned European expansion.
Buyse told World Coffee Portal in April 2023 that IzyCoffee planned to have more than 100 outlets spread across five countries by the end of 2025, with the Netherlands, Germany and France markets of interest.