MILAN – Italian espresso maker Lavazza stated on Wednesday it anticipated a difficult 2022 attributable to uncooked materials value rises after reporting a powerful enhance in income for 2021.
The family-owned firm stated it had determined to droop all its actions in Russia and has additionally needed to briefly halt distribution in Ukraine.
Lavazza stated it must sort out “an especially advanced and difficult” 2022, as a result of rise within the costs of uncooked supplies.
“In the beginning inexperienced espresso, but in addition packaging, vitality, logistics – and the dangers deriving from the dramatic present geopolitical scenario,” Chief Govt Antonio Baravalle stated.
The value will increase had been primarily attributable to world provide chain points and harm attributable to climate occasions, the Turin-based group added.
Earnings earlier than curiosity, taxes, depreciation, and amortisation (EBITDA) got here in at 312 million euros ($337.93 million) in 2021, up 23.3% on 2020.
Revenues elevated 11% to 2.3 billion euros final 12 months, additionally because of a restoration within the “out of residence” channel after the slowdown attributable to the COVID-19 epidemic, when lockdowns stored individuals at residence.
($1 = 0.9233 euros)
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