Slide 1: Q3 & 9M 2022 Results
7. DéLonghi Group Q3 BS 9M 2022 RESULTS DéLonghiGroup | KENWooD BRAUN nutribullet. -friete.
Slide 2: Forward-looking statements disclaimer
This presentation might contain certain forward-looking statements that reflect the company’s current views with respect to future events and financial and operational performance of the company and its subsidiaries. Forward looking statements are based on De' Longhi’s current expectations and proje
Slide 3: Definitions used in this presentation
In this presentation: • “Adjusted” stands for before non recurring items and notional cost of the stock option plans • "At constant exchange rates" means excluding the effects of exchange rates' variations and of hedging derivatives • “ForEx” or “FX” stand for Foreign Exchange Rates; • “M” stands fo
Slide 4: Q3 - 9M 2022 Results
Q3 — 9M 2022 RESULTS
Slide 5: Revenues, adjusted EBITDA, free cash flow and net financial position
Revenues substantially in line vs 2021 revenues' growth % -1% record year, sustained by coffee and expansion on the extra-European areas Declining from 16.6%, due mainly to adjusted Ebitda % margin 10% cost inflation, warehousing extra-costs and ca. 32M€ increase in A&P expend. 12 months Free Cash F
Slide 6: Headwinds and actions
Q3 - 9M 2022 RESULTS HEADWINDS AND ACTIONS EXTERNAL HEADWINDS COST INFLATION WAREHOUSING INVENTORY EXTRA COSTS REDUCTION DEMAND DéLonghiGroup | Delonghi) KENWOOD BRAUN nutribullet. -Ariete. 6 ACTIONS PUT IN PLACE PRICE INCREASES
Slide 7: Source: Bloomberg data, USD
Source: Bloomberg data, USD 7
Slide 8: Source: internal analysis, reported figures EUR
Source: internal analysis, reported figures EUR 8
Slide 9: Headwinds and actions /3
Q3 - 9M 2022 RESULTS HEADWINDS AND ACTIONS /3 DEMAND SOFTENING % HIGHER A&P DEMAND SOFTENING. UKR-RUS GEOPOLITICAL BUSINESS DROP TENSIONS HIGHER INTEREST RATES DéLonghiGroup | Delonghi) KENWOOD BRAUN nutribullet. -Ariete. CONFIRMING THE INVESTMENTS PLANS ON A&P EXPENDITURES INCREASED EFFORTS ON MEDI
Slide 10: Revenues change %
9M-2022 9M-2021 Q3-2022 Q3-2021 (Eur million) Revenues 2,128.7 2,149.5 683.8 717.7 change % -1.0% -4.7% organic ch. % -5.4% -10.3% 9M-2022 revenues down by 1%, including a positive currency effect of 4.4%; the expansion of extra-European geographies - all up in the 9 months (Asia Pacific, North
Slide 11: Revenues by geographic area
var. % at var. % at EUR million 9M - 2022 var. % Q3 - 2022 var. % constant FX constant FX South-West Europe 761.1 -7.6% -8.4% 226.9 -12.6% -13.7% North-East Europe 483.4 -11.6% -13.5% 171.3 -6.8% -9.5% EUROPE 1,244.5 -9.2% -10.4% 398.2 -10.2% -11.9% America 418.5 9.4% -1.6% 129.3 -7.9% -21.2% MEIA 1
Slide 12: Product segment trends
UP double-digit UP single-digit Down 13
Slide 13: Product segment trends
UP double-digit UP single-digit Down 14
Slide 14: Profitability: margins, adjusted EBITDA, EBIT, net income
9M-2022 9M-2021 Q3-2022 Q3-2021 net ind. margin 1,015.5 1,079.7 319.4 358.3 % of revenues 47.7% 50.2% 46.7% 49.9% adjusted Ebitda 212.0 357.0 62.9 105.6 % of revenues 10.0% 16.6% 9.2% 14.7% Ebitda 217.8 344.9 67.2 103.9 % of revenues 10.2% 16.0% 9.8% 14.5% Ebit 141.2 277.2 40.9 79.7 % of revenues 6.
Slide 15: Adjusted EBITDA drivers
among others: Increased A&P Product costs inflation Additional warehousing costs 16
Slide 16: Operating NWC, net equity and net financial position
EUR million change change 30.9.2022 30.9.2021 31.12.2021 (12 months) (9 months) operating NWC 472.7 308.1 164.7 199.7 273.0 Net Equity 1,648.0 1,462.8 185.2 1,570.6 77.4 Net Financial Position 28.8 216.1 -187.3 425.1 -396.3 op. NWC / revenues 14.8% 10.2% 4.6% 6.2% 8.6% Net financial position as at
Slide 17: Working capital cash flow
Mainly due to slowdown in the procurement activity for production -271.8 18
Slide 18: Net cash flow, 12 months
Q3 - 9M 2022 RESULTS 12 MONTHS NET CASH FLOW i DéLonghi Group NFP at Sep 30, 2021 Operating CF CF fromNWC_ CF from Equity Capex FCF before DVD DéLonghi (other) KENWoop BRAUN nutribullet. -Ariere. DVD NFP at Sep 30, 2022 19
Slide 19: FY 2022 guidance
Q3 - 9M 2022 RESULTS FY 2022 GUIDANCE In the words of Fabio de’ Longhi, CEO: "The third quarter was in line with our guidance and with market expectations for the full year. In a context of great uncertainty of the macroeconomic scenario, we have seen a demand slowdown and a consequent inventory exc
Slide 20: Contacts
Contacts: Investor Relations: Fabrizio Micheli, Samuele Chiodetto T: +39 0422 4131 e-mail: investor.relations@delonghigroup.com Media relations: Mattia Rosati T: +39 0422 4131 e-mail: media.relations@delonghigroup.com On the web: www.delonghigroup.com DéLonghi Group