Home coffee consumption moderated the decline in illycaffe sales last year

By: Trademagazin editor Date: 2021. 05. 03. 11:05

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Despite a significant increase in home coffee consumption and growth in retail sales, the sales revenue of the Italian coffee trading company illycaffe declined last year due to a decline in catering unit sales.

According to the 2020 earnings report approved by illycaffe SpA’s shareholders’ general meeting and published on the company’s website on Monday, annual sales decreased by 14 percent compared to the previous year to 446.5 million euros. The company’s net profit was 5 million euros last year. (MTI)