After a year marked by profound transformation, Massimo Zanetti Beverage Group closes 2024 with renewed strength and clear strategic direction. Despite one of the most challenging environments the coffee industry has seen in over a decade, we have emerged more resilient, more focused, and more united than ever.
With operations spanning more than 100 countries and iconic brands like Segafredo Zanetti, Massimo Zanetti Beverage Group stands today as a global leader in the coffee sector. Our fully integrated value chain—from cultivation to distribution—enables us to deliver quality, consistency, and sustainability at every step.
The entry of the QuattroR investment fund in 2024 marked a turning point in our Group’s journey. Backed by a reinvigorated leadership team and a renewed governance structure, we launched an ambitious industrial and strategic relaunch plan. Efficiency, long-term value creation and sustainability are now the foundational pillars of our strategy.
We now have a clear and shared vision: to position Segafredo as a premium, sustainable, and truly global brand. In response to unprecedented raw material cost increases —Arabica and Robusta— we acted swiftly and decisively.
Our actions included pricing adjustments, a streamlined product portfolio, direct sourcing, and a comprehensive overhaul of both industrial and commercial operations.
The results are evident. In 2024, the Group exceeded Euro 1 billion in revenue and operating profit surpassed expectations. We successfully completed the recapitalization and significantly reduced our net debt.
This momentum carried into 2025. In the first months, revenue and EBITDA exceeded projections. As I often say: we didn’t just weather the storm—we rebuilt our business model, restored brand coherence, and laid the foundation for a new phase of growth. Segafredo is not just another Italian coffee brand; it is the future symbol of global espresso culture—rooted in Italian tradition, but shaped by a modern, cosmopolitan worldview.
This vision also drives our brand’s international repositioning: increasing global consistency, redefining authenticity for today’s world, and creating a unique experience across both retail and HoReCa channels.
The strong start to the year has been formalized in our updated 2026–2028 Strategic Plan, which envisages average annual revenue growth of 8–10%, an EBITDA CAGR of over 15%, and consistent sustainable value creation across the Group.
SUSTAINABILITY: OUR RESPONSIBILITY AND STRATEGIC COMPASS
At Massimo Zanetti Beverage Group, sustainability is more than a commitment—it is a responsibility. It is also a fundamental enabler of long-term value creation. Each year, we reaffirm our pledge to grow in a way that respects the environment, uplifts communities, and builds a better future for generations to come.
Our sustainable vision is grounded in real, measurable actions. Across the Group, we continue to progress in energy efficiency, waste reduction, circular packaging, transportation optimization, and
the adoption of renewable energy sources. We are also investing in innovation to repurpose coffee by-products and reduce environmental impact across the supply chain.
Some highlights from 2024 include:
- Segafredo Zanetti Italia fully transitioned to designed for recycling packaging, eliminating aluminum and introducing FSC-certified mono-material films, maintaining product integrity while greatly enhancing recyclability. Furthermore it implemented continuous energy monitoring in high-consumption departments, enabling real-time tracking and efficiency improvements;
- Meira, our Finnish subsidiary, completed sustainability certification for its entire Kulta Katriina product range. It continued to advance toward its' SBTi aligned climate targets set in 2021 aiming for an 80% emissions cut by 2028 and 100% renewable energy sourcing. By 2025, 90% of its suppliers will align with the same climate goals;
- Boncafé Thailand achieved Green Industry Level 3 certification and was awarded the prestigious Green Star Award for environmental excellence.
These achievements are more than just milestones—they reflect a growing cultural shift within our organization. Sustainability is no longer a project; it is a mindset. It shapes how we think, how we operate, and how we engage with the world around us.
What brings me the most pride is seeing this spirit of sustainability emerge organically across all Group companies—from Café Montana to Tiktak, from Austria to Australia—each embracing continuous improvement and climate action. We know that the journey ahead will require courage, innovation, and collaboration. But we are prepared.
Pierluigi Tosato
- Massimo Zanetti Beverage Group SpA - CEO
