Slide 1: Q1-23 Results
DéLonghi Group Q1-23 RESULTS 9 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: New product launches: drip coffee machine
Q1-23 RESULTS NEW PRODUCT LAUNCHES: DRIP COFFEE MACHINE 7 INTRODUCING , | frueBrew \ COFFEE, FROM BEAN TO CUP | IN JUST A TOUCH. ‘ —_ DéLonghiGroup | KENWoop BRAUN nutribullet. -Ariere.
Slide 5: TrueBrew
Q1-23 RESULTS TrueBrew™ © THE IDEAL GRIND, DOSAGE AND BREW Using De’Longhi's proprietary Bean Extract Technology, TrueBrew™ automatically grinds, doses, and brews each cup with precision and satisfying perfection. © 6 BREW SIZES TrueBrew™ crafts quality coffee for a more personalized experience © 5
Slide 6: Q1-23 results highlights
Revenues growth was affected by a revenues' growth % -18% challenging comparison vs previous years and a partial de-stocking from retailers Q1 margins still higher than pre-covid adjusted Ebitda % margin 12.3% period (’19 and ’20), thanks to cost control and the positive price-mix. Healthy positive
Slide 7: Revenues
Q1-23 Q1-22 (Eur million) Revenues 602.4 735.5 change % -18.1% at constant fx % -18.7% Q1-23 revenues were down by 18.1%, including a positive currency effect 0,6%; The start of the year was impacted by some already anticipated factors: • a challenging comparison with the extraordinary growth in
Slide 8: Revenues by geographic area
var. % at E UR million Q1-23 var. % cons tant FX S outh Wes t E urope 215.8 -24.1% -24.7% North E as t E urope 157.3 -7.4% -7.5% E UR OP E 373.2 -17.9% -18.3% ME IA (MiddleE as t/India/Africa) 44.3 -25.4% -28.2% Americas 96.0 -27.8% -30.6% As ia-P acific 89.0 0.3% 3.2% T OT AL R E VE NUE S 602.4 -18
Slide 9: Regional trends by area
UP double-digit UP single-digit Down 9
Slide 10: Regional trends by area
UP double-digit UP single-digit Down 10
Slide 11: Net industrial margin, EBITDA and net income
Q1-23 Q1-22 Change % (Eur million) net ind. margin 304.4 375.6 -19.0% % of revenues 50.5% 51.1% adjusted Ebitda 74.3 100.1 -25.7% % of revenues 12.3% 13.6% Ebitda 75.5 93.5 -19.2% % of revenues 12.5% 12.7% Ebit 50.1 69.1 -27.5% % of revenues 8.3% 9.4% Net Income (pertaining 38.7 50.6 -23.5% to the G
Slide 12: Adjusted EBITDA drivers
among others: slightly lower A&P and logistic costs 12
Slide 13: Operating NWC, net equity and net financial position
EUR million change 31.3.2023 31.3.2022 (12 months) operating NWC 256.6 334.7 -78.1 Net Equity 1,682.7 1,632.3 50.4 Net Financial Position 317.2 274.6 42.6 Net Bank Position 399.2 356.7 42.5 oper. NWC / Revenues 8.5% 10.2% -1.7% The Group closed the first quarter of 2023 with a positive Net Financi
Slide 14: Net cash flow, Q1 2023
Q1-23 RESULTS 3 MONTHS NET CASH FLOW a a Ea DéLonghi Group NFP at Dec. 31, Operating CF CF from NWC CF from Equity Capex 2022 (other) | DeLonghi) KENWOOD BRAUN nutribullet. -Ariece. Free Cash Flow before DVD NFP at Mar 31, 2023 14
Slide 15: Net cash flow, 12 months
Q1-23 RESULTS 12 MONTHS NET CASH FLOW DéLonghi Group 16.0 11.4 — jo) r T T T T T T 1 NFP at Mar 31, Operating CF CFfromNWC CF from Equity Capex FCF before DVD Dividends NFP at Mar 31, 2022 (other) 2023 DéLonghi KENWoop BRAUN nutribullet. -Ariere. 15
Slide 16: Key takeaways
Q1-23 RESULTS KEY TAKEAWAYS The Q1-23 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 Q1-23 with a positive Net Financial Position improving respect to the end of 202
Slide 17: In the words of the CEO, Fabio de' Longhi
In the words of the C.E.O., Fabio de' Longhi: + 17
Slide 18: 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