Breville has reported record revenue of $1.42 billion for the year ended 30 June 2022, an increase of 19.4% compared to the previous financial year.
Earnings before interest and tax was up 14.6% to $156.4 million and net profit after tax was up 16.2% to $105.7 million.
The Asia Pacific (APAC) region reported revenue growth of 18.2% to $278.4 million, the Americas region recorded growth of 19.4% to $605 million and Europe, and the Middle East and Africa (EMEA) region experienced growth of 15.1% to $295.1 million.
APAC delivered a solid performance in the first and second half with good signs from the new coffee SKU, the Barista Express Impress. In June 2022, the group made its first direct entry into Asia by launching in South Korea.
There was good sales growth with Nespresso and solid growth in Breville, offsetting lower growth in Kambrook.
“I’m very pleased with the excellent Breville results for FY22. Our teams across the APAC theatre worked extremely well, together with our retail partners to overcome the numerous supply challenges to deliver impressive sell out results,” Breville Asia Pacific president, Mark O’Kelly told Appliance Retailer.
“We also started our Asian expansion by opening our own office in Seoul Korea. We have continued to increase our investment in R&D and marketing that will unlock future growth drivers.”
Breville group CEO, Jim Clayton said it was a solid year of performance against a dynamic backdrop of supply chain challenges, inflationary pressures and headwinds resulting from the Ukraine invasion.
“Having doubled the size of the business in the last four years, the strength of our geographic portfolio came through in FY22 as the Americas accelerated in the second half to pick up the slack in Europe,” he said.
“We managed margins well, demonstrating the pricing power of our brand and our premium products. We enter FY23 in a solid position; we’ve successfully pulled forward our inventory build for first half FY23 and our NPD pipeline is beginning to release. Thank you to the entire Breville/Sage team for pushing through the tactical challenges of FY22 with a relentless focus on our customers and partners.”