The Amsterdam-headquartered coffee company has met its revenue targets for 2022 following strong out-of-home sales and says it is making ‘significant progress’ on its sustainability agenda
JDE Peet’s will launch fully compostable L’OR coffee capsules in select markets in 2023 | Photo credit: JDE Peet's
JDE Peet’s has announced strong sales growth across all markets in 2022, including a robust performance in its out-of-home channel.
In a preliminary update for investors, the JAB-Holding-backed company said organic sales increased 16% over the last 12 months to approximately €8.1bn ($8.8bn).
Out-of-home sales growth increased 22% while at-home revenues rose 9%. However, sales to bar, restaurant and café customers remain 15% below pre-pandemic levels.
The company, which will share its full audited results in February 2023, is targeting organic sales growth of 3-5% for 2023.
Additionally, JDE Peet’s said it had made ‘significant progress’ on its sustainability agenda, including reducing its scope 1 & 2 green-house-gas emissions by 17% since 2020 and increasing its responsibly sourced coffee from 30% in 2021 to 77% last year.
In 2023, JDE Peet’s will launch a fully compostable L’OR coffee capsule in select markets and submit a new science-based target of net zero, via the Science Based Targets initiative (SBTi).
“In spite of the challenging macro-economic environment, we are delivering on our commitments to build a stronger, more productive, and more inclusive enterprise. We kept high-quality standards for our consumers and customers, meaningfully reinvested in core assets, rebuilt employee pride and engagement, transformed from a laggard to a leader in ESG, while resuming cost competitiveness and achieving our financial commitments,” said Fabien Simon, CEO, JDE Peet’s.
JDE Peet’s, which produces and distributes major coffee brands, including Peet’s, L’or, Jacobs, Douwe Egberts, Senseo and Tassimo, was formed in 2019 after JAB Holding Company merged its Jacobs Douwe Egberts (JDE) and Peet’s Coffee businesses.
The company operates more than 350 Peet's Coffee stores across the US and China. The coffee chain opened its first store in the Middle East in Dubai in January 2023 in partnership with multi-brand restaurant operator Americana Restaurants.
JDE Peet’s posted total sales of €7bn ($7.6bn) in 2021.