De'longhi S.p.a. · MIL:DLG
De'longhi — Q3 2024 Earnings Presentation
33 slides from De'longhi's earnings presentation, Nov 12, 2024
Slide 1: Q3 & 9M 2024 Results
9M & Q4 2024 RESULTS Q3 & 9M 2024 Results Nov 12th, 2024
Slide 2: Forward-looking statements disclaimer
Q3 & 9M 2024 RESULTS 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 e
Slide 3: In this presentation: definitions
Q3 & 9M 2024 RESULTS In this presentation: • “Adjusted” stands for before non recurring items and cost of the stock option plans • "At constant exchange rates" means excluding the effects of exchange rates' variations and of hedging derivatives • At “constant perimeter” or “Organic” or “Like for Lik
Slide 4: Major New Product Launches 2024
MAJOR NEW PRODUCT LAUNCHES 2024 DéLonghi Group
Slide 5: Global roll out: Rivelia
Global roll out Rivelia's Bean Switch Technology allows users to effortlessly switch between different coffee beans; Bean Adapt Technology automatically adjusts brewing parameters to match the unique characteristics of the selected coffee beans, ensuring optimal extraction and flavor preservation wi
Slide 6: Maximizing coffee and milk experience for mid-end consumers
All that maximizes coffee and milk experience for mid-end consumers. Dense and rich milk foam at the right temperature thanks to LatteCrema Hot; A wide range of tailor-made coffee and milk drinks (up to 13); Intuitive User Interface with 2.4’’ colour display w/navigation controls; Customization of t
Slide 7: Quality coffee, crafted effortlessly
“Quality coffee, crafted effortlessly” with 15 grind settings and variable temperature balance to accommodate different coffee beans, roasting levels and hot or cold brew preferences with the Cold Brew Technology Experience powerful steam with the My LatteArt cool touch steam wand, powered by the Ad
Slide 8: The new Kenwood Go collection
The new Kenwood Go provides excellent performance, great results, ingenious features and the premium design that Kenwood is renowned for. All appliances in the Kenwood Go Collection fit into a deep pan drawer or cupboard (30cm) and feature easy carry handles. Built to last, with intuitive interfaces
Slide 9: Compact food processor, stand mixer and hand mixer
Compact Food processor Compact Stand mixer Compact Hand mixer 9
Slide 10: Blender + Insulated Tumbler In One
Blender + Insulated Tumbler In One The blending cup is a fully functional insulated tumbler, making it distinctive. It’s made from double-walled insulated stainless steel, which can keep ingredients and blends cold up to 24 hours. Can blend ice, most frozen fruits, and many fresh ingredients to make
Slide 11: Full-sized blender with 1500 Watts
This sleek, full-sized blender is designed for ease and precision, with 1500 Watts of power and 5 variable speed settings. It also features a smart auto cycle, which senses ingredient load and automatically adjusts speed, time, and function to deliver optimal results. 11
Slide 12: CareStyle 9 and Multifry 3
The new CareStyle 9, with its blend of automatic Braun’s exclusive FastSteam Technology maximizes The new Multifry 3 includes 8 Automatic programs and 4.3 L descaling, intelligent steam control, powerful steam output, letting you sanitizing your outfits. drawer. RealAir Technology, allowing Super-ho
Slide 13: Continuous Investments in Brand & Product Communication
CONTINUOUS INVESTMENTS IN BRAND & PRODUCT COMMUNICATION DéLonghi Group
Slide 14: Q3 & 9M 2024 RESULTS
Q3 & 9M 2024 RESULTS
Slide 15: Kenwood Go collection launch
Q3 & 9M 2024 RESULTS «Go Collection» «Kenwood Go» collection launch Digital Media Campaign
Slide 16: Nutribullet launch in France & Spain
Q3 & 9M 2024 RESULTS Nutribullet launch in France & Spain Pier party in Santa Monica (California)
Slide 17: Launch campaign in Belgium
Q3 & 9M 2024 RESULTS Various markets Launch campaign in Belgium
Slide 18: Porsche x La Marzocco
«PORSCHE X LA MARZOCCO» la marzocco COLLECTION lamarzocco
Slide 19: De'Longhi Group
Q3 & 9M 2024 RESULTS DéLonghi Group
Slide 20: Revenue growth, adjusted EBITDA margin, free cash flow, net financial position
Q3 & 9M 2024 RESULTS Revenues increased by ca.12% over 9M, revenues' growth % +11.6% primarily to perimeter expansion and another quarter of solid performance in the core categories Continuous profitability improvement vs LY adjusted Ebitda % margin 15.1% thanks to La Marzocco consolidation, operati
Slide 21: Nine-month top line and organic growth
Q3 & 9M 2024 RESULTS In the first nine months of 2024, the top line grew by double digits, driven by La Marzocco consolidation for seven months along with solid organic growth at a mid- single digit rate, with core categories extending the positive momentum of the previous quarters. Organic grow
Slide 22: Q3 results by geographic area
Q3 & 9M 2024 RESULTS In the quarter: The South-Western European area recorded an increase of 7.4% in turnover, corresponding to a low-single-digit organic growth favoured by the performance of certain countries such as Switzerland, Austria, and Iberia, sustained by the expansion of fully-auto; N
Slide 23: Revenue growth by region
Q3 & 9M 2024 RESULTS Apac 15% South West Czech Republic & Slovakia MEIA Europe 34% UP Switzerland 6% double-digit Iberia / Austria Saudi Arabia Australia & New Zealand UP Poland France single-digit UK Americas Greece 19% UAE China North East Europe Down South Korea 26% 23
Slide 24: Revenue growth by product category
Q3 & 9M 2024 RESULTS Other 5% Comfort & Coffee makers Home Care 62% 8% Fully-Auto UP Personal blenders double-digit Hand blenders Ironing Capsule systems UP Blenders single-digit Kitchen machines Nutrition & Food Prep. 24% Manual coffee makers Down Comfort Sector 24
Slide 25: Net industrial margin and adjusted EBITDA
Q3 & 9M 2024 RESULTS In the quarter: the net industrial margin stood at € 416M, equal to 51.6% of revenues compared to 49.0% in 2023, benefitting from the further easing of inflationary pressures on certain production costs and the increase in volumes; adjusted Ebitda amounted to € 131M, or 16.3
Slide 26: Margin drivers
Q3 & 9M 2024 RESULTS among others: lower industrial costs higher A&P higher logistic costs 26
Slide 27: Margin drivers
Q3 & 9M 2024 RESULTS among others: lower industrial costs higher A&P higher logistic costs 27
Slide 28: Net financial position, free cash flow and working capital
Q3 & 9M 2024 RESULTS The Group ended the first nine months of 2024 with a positive Net Financial Position of € 266 million, slightly lower than from September 2023 after the finance of the business combination in the professional business, dividends, and Capex; Free Cash Flow before dividends an
Slide 29: Net cash flow (9 months)
NET CASH FLOW (9 MONTHS) NFP at Cash flow by Cash flow Dec. 31, 2023 current operations from NWC (85) Capex Zz Other DéLonghi Group FCF before dividend & M&A Dividends & M&A NFP at Sep. 30, 2024 29
Slide 30: Net cash flow (12 months)
NET CASH FLOW (12 MONTHS) 507 (4) 326 NFP at Cash flow by Cash flow Sep. 30, 2023 current operations from NWC Capex (2) Other DéLonghi Group FCF before dividend & M&A Dividends & M&A NFP at Sep. 30, 2024 30
Slide 31: Key takeaways
Q3 & 9M 2024 RESULTS KEY TAKEAWAYS In the Q3, the Group's revenues climbed by 14%, following La Marzocco's consolidation and the expansion of the household business, which recorded another strong quarterly performance, 1 accelerating from the first half Recent advertising initiatives have succeeded
Slide 32: In the words of the C.E.O., Fabio de' Longhi
Q3 & 9M 2024 RESULTS In the words of the C.E.O., Fabio de' Longhi: + 32
Slide 33: Contacts
Contacts: Investor Relations: Samuele Chiodetto, Sara Mazzocato 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