Closed 2024 at €57.4 million with an EBITDA of €12.9 million
Growth driven by new markets
Managing Director Francesco Cantini: “The new retail tech strategy has allowed us to identify new opportunities beyond traditional vending. 2025 looks challenging, but we remain optimistic and focused on our growth roadmap.”
FAS International, a leading company in the automatic distribution market, closed 2024 with significant growth, consolidating a new vending concept: “retail tech.” This strategic shift places technology at the core of the retail experience. What is “retail tech”?
The term “retail tech” refers to the use of innovative and digital technologies in the retail sector. FAS International envisions vending machines not as simple dispensers but as fully automated retail points capable of selling anything. These machines integrate interconnected, digital, and non-digital solutions to offer a smooth and engaging shopping experience, featuring an intuitive user interface, seamless cashless payment solutions, and remote management capabilities for configuration, performance monitoring, and optimization.
2024 Figures
In 2024, the transition from traditional vending to retail tech became the cornerstone of FAS International’s strategy, contributing to the company’s strong performance. Revenue reached €57.4 million, with an EBITDA of €12.9 million (22.5% of revenue), up from €53.2 million in 2023 (EBITDA of €10.3 million, 19.3% of revenue), marking an 8% increase. While the total number of vending machines sold was slightly lower than in 2023 (around 14,000 units), mainly due to market difficulties in the hot beverage segment, the company achieved a notable increase in average price and profitability. This was driven by enhanced technology and higher sales of premium models.
The strong results were fueled by market share growth in the Snack & Food segment, supported by both existing customer loyalty and new business opportunities across Europe. Italy remains the primary market, while Spain and France continue to be strongholds thanks to solid partnerships—more than 50% of all Snack & Food vending machines in Spain bear the FAS brand. In 2024, excellent performances were also recorded in Poland, Turkey, Slovenia, and Romania, all markets with strong growth potential. Meanwhile, countries such as Germany and the UK, where FAS has a smaller market share, represent significant opportunities for expansion.
“International markets are increasingly strategic for us,” says Francesco Cantini, Managing Director of FAS International since 2023. “Our products are present worldwide, but 80% of our sales come from just eight countries. There is ample room for growth. The Italian market, while still our main reference, remains highly competitive and somewhat stagnant. Total vending transactions are declining, making investments in new machines more selective, while the refurbishing of used vending machines is increasing. However, refurbished machines often lack the design, user interface, and functionality required for a smooth and gratifying user experience. They are also significantly less efficient in terms of connectivity and energy consumption. Our commitment to retail tech has brought a fresh vision to the market, focusing on improving the consumer experience. The combined efforts of FAS and our clients are yielding excellent results. In 2025, we must further accelerate this transformative path and enhance the industry’s value chain.”
2025 and Future Challenges
2025 is expected to be challenging due to ongoing global uncertainties, now further complicated by potential tariffs, adding to the difficulties already affecting various sectors and regions, including Germany and the Middle East. FAS International will continue investing in retail tech transformation, keeping the consumer and their shopping experience at the core. The company plans to develop new high-potential business segments and expand retail tech into new industries such as hospitality, corporate catering, and retail. The three-year business plan forecasts revenue exceeding €60 million in 2025.
“We are working on new products, projects, and solutions tailored to customer needs,” Cantini adds. “Our structured approach aims to enhance technological superiority and performance in both Hot & Cold and Snack & Food segments. We have a strong and clear brand identity, high product quality, and a deep commitment to digitalization—leveraging AI and our long-standing partnership with Alturas, a software house in Villafranca di Verona specializing in retail tech solutions. We are strengthening our commercial and support network while also educating customers and consumers on the added value of a retail tech-supported purchasing approach: more convenient, immediate, secure, efficient, and, most importantly, more sustainable.”
