Slide 1: H1 & Q2 2023 Results
nghi Group Jab & Q2 2023 RESULTS
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: In this presentation: definitions
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: Key financial highlights
Revenues growth was affected by some revenues' growth % -10.9% temporary factors in H1, but excluding the discontinuity in the USA, Q2 sales were up +1.8% vs LY H1 margins almost align with pre-covid adjusted Ebitda % margin 12.4% period (’19 and ’18), thanks to cost control and positive price-mix.
Slide 5: Revenues
H1-23 H1-22 Q2-23 Q2-2022 (Eur million) Revenues 1,291.2 1,444.8 688.8 709.3 change % -10.6% -2.9% at constant fx % -10.0% -0.9% H1-23 revenues were down by 10.6%, but the Q2 was up excluding the impact from the discontinuity in the US market. The start of the year was impacted by some already a
Slide 6: Revenues by region
var. % at var. % at EUR million H1 - 2023 var. % Q2 - 2023 var. % constant FX constant FX South-West Europe 462.6 -13.4% -13.9% 246.8 -1.2% -1.7% North-East Europe 321.6 3.0% 4.7% 164.3 15.5% 19.3% EUROPE 784.2 -7.3% -7.1% 411.1 4.9% 6.0% America 225.9 -21.9% -22.5% 129.9 -16.9% -15.4% MEIA 85.8 -18
Slide 7: Revenue trends by product category
UP double-digit UP single-digit Down 7
Slide 8: Revenue trends by product category
UP double-digit UP single-digit Down 8
Slide 9: Profit and loss: margins, EBITDA, net income
H1-23 H1-22 Change % Q2-23 Q2-2022 Change % (Eur million) net ind. margin 640.2 696.2 -8.0% 335.8 320.6 4.7% % of revenues 49.6% 48.2% 48.8% 45.2% adjusted Ebitda 160.1 149.1 7.4% 85.8 49.0 75.0% % of revenues 12.4% 10.3% 12.5% 6.9% Ebitda 159.0 150.5 5.7% 83.5 57.1 46.4% % of revenues 12.3% 10.4% 1
Slide 10: Adjusted EBITDA drivers
among others: lower A&P, lower logistic costs. 10
Slide 11: Net income drivers
among others: lower A&P, lower logistic costs. 11
Slide 12: Operating NWC, Net Equity, Net Financial Position
EUR million change change 30.6.2023 30.6.2022 31.12.2022 (12 months) (6 months) operating NWC 206.6 414.6 -208.1 288.8 - 82.2 Net Equity 1,639.2 1,591.5 47.7 1,663.4 -24.2 Net Financial Position 311.7 55.4 256.3 298.8 12.9 Net Bank Position 403.8 132.7 271.1 389.5 14.4 oper. NWC / Revenues 6.9% 12.8
Slide 13: Net cash flow (6 months)
Q2 & H1 2023 RESULTS NET CASH FLOW (6 MONTHS) DéLonghi Group NFP at Dec. 31, Operating CF CF fromNWC__CF from Equity Capex Free Cash Flow 2022 (other) before DVD | DeLonghi) KENWOOD BRAUN nutribullet. -Ariece. Dividend NFP at Jun 30, 2023 13
Slide 14: Net cash flow (12 months)
Q2 & H1 2023 RESULTS NET CASH FLOW (12 MONTHS) DéLonghi Group 30.2 NFPatJun30, OperatingCF CFfromNWC_ CF from Equity Capex FCF before DVD 2022 (other) | DeLonghi) KENWOOD BRAUN nutribullet. -Ariece. Dividends NFP at Jun 30, 2023 14
Slide 15: Key takeaways
Q2 & H1 2023 RESULTS KEY TAKEAWAYS The H1-23 was characterized by an unfavourable and complex geopolitical and macroeconomic backdrop, in continuity with the scenario encountered in the second half of ’22. The Group closed the H1-23 with a positive Net Financial Position improved to € 311,7 M, thank
Slide 16: In the words of the CEO, Fabio de' Longhi
In the words of the C.E.O., Fabio de' Longhi: + 16
Slide 17: Contacts
Contacts: Investor Relations: Fabrizio Micheli, Samuele Chiodetto T: +39 0422 4131 e-mail: investor.relations@delonghigroup.com Media relations: T: +39 0422 4131 e-mail: media.relations@delonghigroup.com On the web: www.delonghigroup.com DéLonghi Group