Illy Coffee closes 2020 with a Net income of 5 million, down by about 74% compared to 19 million in 2019. The revenues, on the other hand, stood at 446,5 million, for a decrease of 14% on an annual basis. The company explains that the sharp increase in consume at home (+21%) and sales through E-commerce (+39%) partially compensated for the negative effect of the pandemic, which led to the closure of bars and restaurants in Italy and in the rest of the world.
“The composition of the business in 2020 therefore shifted more to channels linked to home consumption – reads the company note – which accounted for 56% of total revenues, compared to 40% in 2019”.
At the end of 2020, the net financial position of Illy was negative by 103,3 million, an improvement of 10,7 million on the previous year.
Among the various markets, "the business trend followed the evolution of the pandemic - continues the note - The United States was among the world's areas most affected and Asia among those in an advanced stage of recovery, in particular with a strong growth in South Korea”.
Due to the health emergency the company had to close 44 points of sale, 186 bars and 39 shops in about 40 countries, mostly in franchises.
At the end of last February illycaffè announced the completion of the entry into the shareholding structure of Rhône Capital, a private equity company present in Europe and North America.
