De’Longhi grew in the first nine month of 2017

1543


In the first nine months of 2017, De’Longhi, Italian Group of small appliances, recorded a growth, especially supported by United States, China and East Europe. Revenues were up by +8.4% to 1,256.4 million euro (+5% on a like-for-like basis in the 9 months and by +10.7% in the third quarter (+8.4% like-for-like). Net Industrial Margin was growing by 5.3% to 601.8 million euro; investments in advertisement and promotions were increased by about 11 million euro in the 9 months, while Ebitda before non recurring items was improving to 159.1 million euro in the 9 months and to 53.8 million euro in the quarter and Net Income pertaining to the Group was up by 24.2% to 89.5 million euro in the 9 months. All geographic areas have provided their contribution to growth, with more weight on the APA region (Asia Pacific & Americas) – as USA and Canada and greater China were growing at double digit rate – and North-East Europe – namely Russia, Poland and the other eastern European countries. Even the market conditions in the MEIA region (Middle East, India & Africa) were showing signs of improvement, with a recovery of growth in the third quarter. Regarding the products categories performance, coffee makers delivered a steady growth of +17.8% in the first nine months, accelerating at +21.1% in the third quarter. All segments of coffee makers were providing positive signals, including Nespresso systems (declining in 2016) which benefited from the new distribution agreement for the US market and the recent launch of the new Lattissima One. A double digit rate progression is also recorded by fullautomatic machines.
Within food preparation category, on one hand Braun products were growing thanks to the expansion into new markets, like the US and the Far East, while on the other Kenwood’s kitchen machines were back to growth in the third quarter.
Products of the “comfort” category (i.e. portable heaters and airconditioners) were growing in the nine months, but not in the quarter, as a results of an unfavourable season for air-conditioning.