The coffee company benefited from lower raw material prices and more customers in its stores in the past financial year. However, sales of consumer goods declined.
The coffee group Tchibo is making a profit again. In the past financial year, earnings before interest and taxes (EBIT) amounted to 68 million euros, as the Hamburg-based Tchibo holding company Maxingvest announced. In the 2022 financial year, the trading group and coffee roaster posted a loss of 167 million euros. The company does not provide any information on earnings after taxes.
Tchibo explained the development with lower raw material, energy and logistics prices as well as lower marketing and sales costs. In addition, the strategic and structural measures introduced in the summer had begun to take effect. Product ranges were more closely aligned to the various sales channels – branch, depot and online retail. Tchibo focused on the coffee business and the reduction of almost 300 jobs had been completed.
Sales were around 3.2 billion euros, one percent below the previous year. The consumer goods business performed comparatively worse because of a general decline in demand. In addition to coffee, Tchibo also sells clothing, household items and home accessories.
The approximately 900 branches, however, recorded an increase in sales. Customer frequency increased and more coffee was sold. Sales abroad also increased. Tchibo exports coffee to more than 60 countries and has companies in several countries such as Austria, Switzerland and Poland.
Source: Stern
