Slide 1: DeLonghi Group 9 months 2018 results
DeLonghi Group 9 months 2018 results| | KENWOOD BRAUN
Slide 2: Definitions & assumptions
9M 2018 RESULTS (“continuing operations”) Definitions & assumptions In this presentation: • Continuing Operations identify the consolidated perimeter exclusing NPE s.r.l.; • ForEx or FX stand for Foreign Exchange Rates; • Organic stands for effect net of ForEx and hedging derivatives; • Adjusted sta
Slide 3: Contents
CONTENTS • 9 months 2018 results • Appendix
Slide 4: Highlights
9M 2018 RESULTS (“continuing operations”) HIGHLIGHTS In the 9 months: Revenues up 5% to € 1,300.3 million (+ 9% organic), driven by coffee makers (+16.8% organic); Adjusted EBITDA, in organic terms, up to € 165.1 million equal to 12.3% of revenues (€ 152.6 M and 12.4% in 2017); Net Financial P
Slide 5: Sales and Net Industrial Margin
9M 2018 RESULTS (“continuing operations”) SALES AND NET INDUSTRIAL MARGIN EUR million 9M-2018 9M-2017 change change % Revenues 1.300,3 1.238,4 62,0 5,0% Net Ind. Margin 617,6 607,7 9,9 1,6% % of sales 47,5% 49,1% -1,6 pp +9% organic 9M, +7.4% organic 3Q The Q3 revenues grew by 5.7%, but net of the
Slide 6: Revenues Breakdown by Market
9M 2018 RESULTS (“continuing operations”) REVENUES BREAKDOWN BY MARKET 9M 2018 N. America 11% Italy 10% Germany 12% Russia, Ukraine & CIS 8% o In the 9M, at an organic MEIA level, all macro regions 7% Other N/E have grown; Europe 13% o USA became the second Other APA 7% market of the Group Australia
Slide 7: Revenues Breakdown by Market: South-West Europe
9M 2018 RESULTS (“continuing operations”) REVENUES BREAKDOWN BY MARKET organic chg. EUR million 9M 2018 chg. % 3rd Q 2018 chg. % organic chg. % % South West Europe 520,6 2,5% 3,4% 168,1 -1,2% -0,3% North East Europe 327,2 8,8% 14,3% 123,0 8,8% 14,8% EUROPE 847,8 4,8% 7,4% 291,1 2,8% 5,7% APA (Asia/P
Slide 8: Revenues Breakdown by Product
9M 2018 RESULTS (“continuing operations”) REVENUES BREAKDOWN BY PRODUCT 9M 2018 sales breakdown by product Cooking & Food Prep. 31% o The performance of the coffee machines segment is still the pillar of the growth; o Q3 delivered a strong bounce of the comfort category and of Braun’s ironing system
Slide 9: Revenues Breakdown by Product: Coffee Makers
9M 2018 RESULTS (“continuing operations”) REVENUES BREAKDOWN BY PRODUCT COFFEE MAKERS Others coffee 3% Capsules o In the coffee segment, all machines categories were growing, 13% excepted Dolce Gusto: in organic terms: Pump Machines o full auto up double digit, 5% o traditional pump and Nespresso: u
Slide 10: Revenues Breakdown by Product: Cooking & Food Preparation
9M 2018 RESULTS (“continuing operations”) REVENUES BREAKDOWN BY PRODUCT COOKING & FOOD PREPARATION Kitchen Machines Food 9% Processor Hand 3% In organic terms: Blenders & Blen. o the whole segment was rather 7% flattish yoy, due also the Others persistent weakness of the Kitchen reference global mar
Slide 11: Revenues Breakdown by Product: Comfort & Home Care
9M 2018 RESULTS (“continuing operations”) REVENUES BREAKDOWN BY PRODUCT COMFORT & HOME CARE o The comfort segment (portable heating and air treatment) grew strongly, with a marked acceleration in the 3Q driven by air conditioning and treatment; o Braun’s irons were up double digit, especially in the
Slide 12: EBITDA Margins and Net Profit
9M 2018 RESULTS (“continuing operations”) EBITDA MARGINS AND NET PROFIT EUR million 9M-2018 9M-2017 change change % adjusted EBITDA 162,2 159,5 2,7 1,7% % of sales 12,5% 12,9% -0,4 pp EBITDA 157,1 155,2 1,9 1,2% % of sales 12,1% 12,5% -0,5 pp adjusted Net Profit 85,8 82,4 3,4 4,1% Net Profit 82,0 90
Slide 13: Financial Position and Working Capital
9M 2018 RESULTS (“continuing operations”) FINANCIAL POSITION AND WORKING CAPITAL Sept. 30, Sept. 30, Dec. 31, EUR million Change Change 2018 2017 2017 Net Working Capital 386,6 340,4 46,3 257,8 128,9 Net Equity 958,5 936,9 21,6 1.023,3 -64,9 Net debt / (Net cash) -54,5 -94,6 40,1 -250,6 196,1 Net De
Slide 14: The 9M Cash Flow Performance
9M 2018 RESULTS (“continuing operations”) THE 9M CASH FLOW PERFORMANCE 44 mln worse than 2017, due to higher inventories 148,2 160,9 44,6 250,6 149,5 10,7 54,5 NFP at operating changes in capex dividends changes in NFP at 31.12.2017 cash-flow NWC Equity 30.09.2018 14
Slide 15: Contents: Appendix
CONTENTS • 9 months 2018 results • Appendix
Slide 16: Key P&L Figures 2016-2018
APPENDIX KEY P&L FIGURES 2016-2018 («continuing operations») (1) (Euro million) 2016 2017 2018 FULL FULL Q1-16 Q2-16 H1 Q3-16 Q4-16 Q1-17 Q2-17 H1 Q3-17 Q4-17 Q1-18 Q2-18 H1 Q3-18 YEAR YEAR Revenues 362,4 414,4 776,8 388,0 681,9 1.846,7 385,1 431,6 816,7 421,7 734,4 1.972,8 402,6 452,1 854,7 445,6 %
Slide 17: Thank You
THANK YOU Contacts: Investor Relations: Fabrizio Micheli / Samuele Chiodetto T: +39 0422 4131 investor.relations@delonghigroup.com