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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.
Slideshow ( 2 images )
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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