Belgian coffee chain IzyCoffee saw its sales rise from 2.6 million to almost 4.4 million euros, with all other indicators also in the positive. CEO Bart Buyse is counting on strong growth again this year.
“On the right track”
IzyCoffee saw its EBITDA grow from 283,842 to 612,355 euros and its EBITDA margin from 11 to 14 %, while net profit more than doubled from 68,679 to 142,348 euros. Last year, the chain opened five new locations, bringing the total to 22.
The company also achieved double-digit sales and profit growth the year before. At that time, Buyse said he aspired to reach five million euros in sales for 2024. That goal was not achieved, but the CEO is raising the bar again: “By the end of this year, we want to achieve sales of six million euros, with a continuously increasing EBITDA margin”, he says on LinkedIn.
When it was founded in 2018, IzyCoffee aimed to become a European challenger to Starbucks and Costa Coffee – the chain now being put back on sale by owner Coca-Cola. “IzyCoffee, of course still very much is “work in progress”. We are nowhere near our end target yet. But simultaneously, we are definitely on the right track. All our important KPI’s show a tremendous increase.”
