De’Longhi: net revenue of 1,4 million euro in the first half 2021

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In the first six months of 2021, De’Longhi Group achieved net revenues of 1,431.8 million euro, up by 59.7%; at constant exchange rates, revenues grew by 65.4%; an adjusted Ebitda of 251.4 million euro (230 million euroon a like-for-like basis), up by 124.9% and equal to 17.6% of revenues, improving by 5.1 percentage points on revenues compared to last year; a net profit pertaining to the Group of 180.8 million euro, up 319.5%, equal to 12.6% of revenues (140.4 million euro on a like-for-like basis).

Massimo Garavaglia, CEO of De’Longhi

«The extraordinary results achieved in these first six months witness the solidity of the medium-term trends of our core segments and the resilience and flexibility shown by our Group and in particular by our people – commented the company’s CEO Massimo Garavaglia -. Results obtained despite the critical issues that the entire industrial world is facing globally, such as the increase in freight costs and raw materials and the supply flows of some components. The De’ Longhi Group responds to these challenges with a renewed commitment to investments in innovation, production facilities and communication and marketing activities in support of our brands and products. The increased investments, in turn, are made possible by the safeguard of operating margins, also achieved through a careful pricing policy. Furthermore, in the last three years, the decision to expand the budget for communication and marketing activities has been fundamental in order to seize all the opportunities that the market offers.

In particular, in line with this strategy and the medium-long term plan, the second half of this year will see the Group launching an important global communication campaign in the coffee segment, which we believe will allow us to further consolidate and increase our global leadership in the sector. For what has been said, we believe we can continue to look with positivity at the evolution of the business in the near future.

For this 2021 we now see the Group’s revenues (including Capital Brands) grow at constant exchange rates at a rate in the upper end of the range previously communicated (28%-33%) and an adjusted Ebitda improving versus last year, both in value and as a percentage of revenues. Furthermore, the consolidation of Eversys will bring about 2 percentage points of additional revenue growth and an adjusted Ebitda, as a percentage of revenues, in line with the rest of the Group.»

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