CO.IND LATEST PRESS RELEASE
"An exceptionally difficult year, but one which confirmed Coind's solid base and capacity for growth" - this is how 2022 was defined by Luca Cioffi, President of the Bologna-based cooperative company. Coind, founded in Bologna in 1961, specializes in the production of third-party branded coffee and cosmetics. It operates with two plants between Emilia and Veneto and employs over 200 people. The group closes 2022 with a turnover of almost 95 million euros, up 13% on the previous year. At the traditional end-of-year meeting with employees, Cioffi presented the numbers which confirm that 2022 - as already foreseen in the budget - was a complicated year, in which the company had to face the consequences of a "perfect storm": a pandemic still present, a generalized growth in commodity prices and finally the outbreak of the Russia-Ukraine conflict, with the consequent increase in energy costs. All of this has also led to strong t impact on the accounts, with significant increases in costs, of which only a part has been possible to pass on in terms of increased selling prices. “We thank all Coind employees and partners for their efforts in such a difficult year” – continued Cioffi. “We have all worked hard and together we have managed to overcome some particularly difficult moments”. "Now we look to 2023 with prudent optimism" - concluded Cioffi - "aware that the industrial choices made up to now have proved to be rewarding and give us an advantage over our competitors, in an economic context that will continue to be complicated". The 2023 budget is expected to exceed 100 million, realized both in the domestic market and in over 50 countries where Coind products are exported. *** Coind Group Coind is an Italian industrial group with a cooperative structure, which manufactures private label products. Born in 1961, Coind today has a turnover of over 95 million Euros through its two divisions - Coffee (in Bologna) and Toiletries (in Venice) - employing over 200 employees. In the coffee sector, Coind is one of the major national players, and operates in all segments of roasted coffee: ground coffee, beans, capsules and pods. In addition to contract manufacturing, Coind also operates through its own brands such as Caffè Meseta, Attibassi, Carracci, mainly distributed in the Horeca and Ecommerce channels and sold in over 50 countries worldwide.