The Swiss automated coffee and food operator’s revenues have risen by 14% in its third quarter as a result of price increases and new business across Europe
Selecta Group reported renewed and new business contracts across its European markets | Photo credit: Selecta Group
Selecta Group has reported robust third quarter results, driven by product price increases and new business contracts across the company’s European markets.
The Swiss automated coffee and food vending operator achieved revenue growth of 14% to reach €297m ($291m) in the three months ended 30 September 2022.
Average daily sales per machine increased during the period, reaching €10.80 ($10.60), which Selecta Group attributed to units within both private and public sector locations, with the latter achieving a record-high of €29.80 per machine.
The company also reported renewed and new business contracts across all European markets, which CEO Christian Schmitz attributed to Selecta’s ‘unique value’ offering.
Selecta increased prices during the period to mitigate the impact of rising raw material prices in European markets and to maintain profitability.
“Our focus on keeping cost low and delivering tailored solutions to meet our client needs has continued to deliver positive results in Q3. We continue to have strong retention and sizable new business wins thanks to the unique value we offer our clients and consumers,” said Christian Schmitz, CEO, Selecta Group.
Headquartered in Cham, Switzerland, Selecta operates We Proudly Serve Starbucks, Nescafé, Pelican Rouge, Lavazza and Miofino branded self-serve coffee machines across Europe. The company maintains a presence across workplaces, healthcare facilities, transport hubs, service stations, retail and leisure locations.
Selecta posted revenues of €1.04bn ($1.2bn) in 2021, an increase of 3.2% on 2020 annual sales.