The out-of-home business for coffee hardly stood a chance in the lockdown. The shops were closed, many people were working from home. However, Tchibo is growing with the online sale of consumer goods.
The retail group and coffee roaster Tchibo benefited from the general boom in online retail in 2020 – and thus braced itself against the consequences of the corona lockdowns.
The bottom line was that Tchibo increased sales by one percent to a good 3.1 billion euros, as the Tchibo Holding Maxingvest announced in Hamburg on Tuesday. Before taxes and interest (EBIT), a profit of 90 million euros jumped out, around a third less than a year earlier. The positive sales development continued in the first half of 2021. Tchibo sees itself as the roast coffee market leader in Germany, but is also one of the leading providers in online retail.
In the coffee business, the industry leader suffered from a long closure of all 900 European branches last year. The out-of-home business was also heavily burdened by the lockdowns in the catering industry and the withdrawal of many employees to the home office. The mainstays of the business, on the other hand, were the sale of coffee via the food retail trade and “the good development of the consumer goods business, which was able to increase significantly again after weaker years,” as Maxingvest reported. In Tchibo’s own online shop, sales of consumer goods increased by double digits. A further growing consumer goods business and stable development in the coffee segment are expected for the current year.
Tchibo operates around 550 branches in Germany alone, most of them with a coffee bar. In addition, the coffee roaster is represented in the German food trade with around 19,000 of its own sales depots. Tchibo has 11,450 employees worldwide, 7,430 of them in Germany. Tchibo is wholly owned by the Maxingvest Holding, in which part of the Hamburg Herz family has bundled their holdings. The second mainstay of Maxingvest is the majority stake in the Hamburg Nivea manufacturer Beiersdorf (a good 51 percent), which also includes the adhesive film manufacturer Tesa.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
