Italy’s illycaffè reports record 2024 sales

illycaffè will share a €1m ($1m) bonus among its 1,000 employees following its record results | Photo credit: Daiga Ellaby

Trieste-based illycaffè has reported record revenues and profit following strong organic growth across all key markets and channels last year. 
 

Indicating a long-term strategy to boost international sales is yielding positive results, the B Corp coffee roaster posted 6% year-on-year revenue growth for the 12 months ended 31 December 2024 to reach €630m ($681.6m). Group EBITDA increased by double-digits for the third consecutive year, rising 19% to €110m ($119m). Net profit grew 42% year-on-year to €33m ($35.7m). 

In a press release, illycaffè said its robust results were led by strong performances in Italy, where it generates approximately a third of group sales, and the US, where revenues rose 11% year-on-year following 18% online DTC segment growth. The premium coffee roaster also reported robust revenue growth in Spain, France and the UK, led by higher Horeca segment demand. 

illycaffè has been seeking to boost its US presence since selling a 20% minority stake to New York-based private equity firm Rhône Capital in November 2020. In February 2023, illycaffè CEO Cristina Scocchia said the Italian business was keen to “build bigger markets abroad” in a bid to consolidate its “fragmented” international sales. 

In July 2024, illycaffè secured a key wholesale partnership with United Airlines to serve its new ready-to-drink (RTD) coffee on all domestic US flights. The coffee roaster strengthened its US brand awareness strategy further three months later with a first digital content series, Coffee Break, which launched on TikTok, Instagram and YouTube Shorts. 
 

The strong results highlight the positive impact Scocchia has achieved since being appointed illycaffè CEO in January 2022. However, the former L'Oréal Italia CEO has cautioned that surging green coffee costs will likely lead to greater turbulence in the year ahead. 

“2024 marked the third consecutive year of robust organic growth, with double-digit increases in both EBITDA and net profit, despite a challenging macroeconomic and geopolitical environment and persistently rising raw material costs. Looking ahead, 2025 presents challenges for our industry, particularly due to the surging costs of raw materials, which have now doubled after already increasing by approximately 40% in 2024. We are committed to mitigating the impact on margins caused by rising green coffee prices while continuing to invest in innovation and international growth,” Scocchia said. 

Founded in 1933, illycaffè is one of the world’s most prominent coffee roasters and distributes to Horeca clients in over 140 markets globally. The Italian business, which is seeking to go public by 2026, also operates 159 cafés across 30 markets, with a strong presence in its home market, the US, China and South Korea.   

illycaffè will share a €1m ($1m) bonus among its 1,000 employees worldwide as a “tangible gesture of gratitude” following its record results.