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Coffee maker Lavazza sees full sales rebound in 2021, eyes M&A: CEO


By Reuters Staff
2 Min Read
MILAN (Reuters) - Italian coffee maker Lavazza expects revenue to rebound this year, reaching at least the 2.2 billion euro ($2.58 billion) it achieved in 2019, and continues to look for M&A opportunities, its CEO said on Thursday.
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Last year the family-owned company recorded sales worth 2.085 billion euros as its retail business only partly compensated for a drop in out-of-home coffee consumption.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) came in at 253 million euros in 2020, down 13% on 2019.
The group also wants to bring EBITDA back to the level reached in 2019 or just below it, CEO Antonio Baravalle told an online news conference. ....

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Exxon commits to dividend growth, debt reduction ahead of investor day


4 Min Read
HOUSTON (Reuters) - Exxon Mobil Corp is lowering its ambitions for oil and gas output, it said Wednesday, as it focuses on cutting costs and preserving dividends to win back investors that have soured on the company after years of overspending.
FILE PHOTO: Darren Woods, Chairman & CEO of Exxon Mobil Corporation attends a news conference at the New York Stock Exchange (NYSE) in New York, U.S., March 1, 2017. REUTERS/Brendan McDermid/File Photo
The top U.S. oil producer incurred a historic loss of $22.4 billion last year and is trying to convince a skeptical Wall Street that it can rebound after years of overspending left it deeply indebted and lagging behind rivals better geared for a world demanding cleaner fuels. ....

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Exxon outlines plan to grow dividend, cut debt


4 Min Read
HOUSTON (Reuters) - Exxon Mobil Corp is lowering its ambitions for oil and gas output, it said Wednesday, as it focuses on cutting costs and preserving dividends to win back investors that have soured on the company after years of overspending.
FILE PHOTO: Darren Woods, Chairman & CEO of Exxon Mobil Corporation attends a news conference at the New York Stock Exchange (NYSE) in New York, U.S., March 1, 2017. REUTERS/Brendan McDermid/File Photo
The top U.S. oil producer incurred a historic loss of $22.4 billion last year and is trying to convince a skeptical Wall Street that it can rebound after years of overspending left it deeply indebted and lagging behind rivals better geared for a world demanding cleaner fuels. ....

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