ICAM sees surge in sales thanks to organic chocolate and exports

Italian chocolate maker ICAM (Industria Cioccolato e Affini Morbegno) posted record results in 2017, including revenues of €154 million (5% up on 2016), EBITDA of €20 million and net earnings of around €8 million.

This excellent performance was driven by exports and the company’s line of organic chocolate, which saw 14% growth to €86 million. Exports make up 58% of turnover (€89 million), with products shipped to 75 countries led by the UK and USA.

The company is now looking with interest to France, Russia, the Far East, China and in particular Madagascar due to the country’s supply of cocoa beans and vanilla. In Madagascar ICAM recently laid the foundations for the creation of a new ad hoc company, as it did in 2010 in Uganda.

On the strength of these results, the group now aims to reach a turnover of €200 million between 2021 and 2022.