Miko Succeeds in “Significantly Limiting the Damage”
- François Remy
- Sep 24
- 2 min read
Despite the surge in coffee prices, which the Belgian coffee service specialist was forced to pass on to its own pricing several times, Miko reported both increased volume and revenue for the first half of the year. Enough to slow the erosion of net profit and help safeguard the company’s performance in an unpredictable market.
“It’s very difficult to make any predictions about the future,” admits Frans Van Tilborg, CEO of the Miko Group for the past fifteen years, “but we are not letting pessimism guide us.”The Turnhout-based company, a bicentennial expert in coffee roasting and out-of-home consumption (notably in catering and corporate settings), posted first-half revenues of €155.4 million (+13%).
This double-digit growth is also due to a rise in volume (+7%). “That, of course, also helped protect our results, which must be viewed in light of the exponential increase in coffee prices,” the CEO emphasizes.
Overheated Market, Heated Negotiations
The market overheated at the start of the year, with the index peaking at 433, up from just 182 at the beginning of 2024. “In that context, announcing three significant price hikes to our clients in under four months was a huge challenge,” Frans Van Tilborg readily concedes.
But the man who has spent 25 years with Miko as Managing Director – and who will hand over the reins next January to fellow senior executive Karl Hermans – believes that “everyone pulled together to make it happen.”
The Antwerp-based company acknowledges having conducted “tough price negotiations” in France, Poland, and England, putting particular pressure on its results in those markets.
“In the end, we managed to significantly limit the damage,” the CEO says, moderating his tone. The group still posted a net profit of €3.1 million for the first half (-15%). This excludes a settlement of 6.75 million euros, which has not yet been accounted for in Miko’s financials.
