De'longhi S.p.a. · MIL:DLG
De'longhi — Q1 2024 Earnings Presentation
14 slides from De'longhi's earnings presentation, May 10, 2024
Slide 1: DeLonghi Group Q1 2024 Results
| DeLonghi Group Q1 2024 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 • "At constant perimeter” or “Organic" means excluding effects of t
Slide 4: Q1-24 highlights
The Q1-24 highlighted a trend continuity revenues' growth % 9.4% with the second part of last year, achieving an increase in organic turnover at constant exchange rates at a high single digit rate Volume growth, together with partial improvements in industrial costs, allowed a adjusted Ebitda % marg
Slide 5: Group turnover expanded by close to 10%
The Group has expanded its turnover by close to 10% thanks to the strong organic growth realised in recent months and the one-month consolidation of the business combination in professional coffee. Group's revenues reached €658.8 million, showing a 9.4% increase compared to the previous year, th
Slide 6: Regional organic growth commentary
South-Western Europe experienced organic growth of roughly 10%, in line with the main trends identified in the second half of 2023; North-Eastern Europe witnessed significant organic revenue growth for the fourth consecutive quarter, reinforced by the high-teens performance in the early months o
Slide 7: Revenue trends by region
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: Net industrial margin and adjusted EBITDA
the net industrial margin stood at €335.4 million, equal to 50.9% of revenues, compared to 50.5% in 2023, benefiting from a positive effect of the mix and an easing of inflationary pressures on product costs; the Ebitda adjusted was €93.8 million, or 14.2% of revenues compared to 12.3% the previ
Slide 10: EBITDA drivers: A&P, logistic and industrial costs
among others: flat A&P investments, lower logistic and industrial costs. 10
Slide 11: Net Financial Position and free cash flow
The Group ended the Q1 with a positive Net Financial Position of €307.6 million, after €326.8 million of net absorption in relation to the closing of the business combination; Free Cash Flow before dividends and acquisitions amounted to €389.2 million in the twelve months, thanks to a significan
Slide 12: Net cash flow (12 months)
Q1-24 RESULTS NET CASH FLOW (12 MONTHS) 3.5 NFP at Mar. Operating CF CF from NWC CF from Equity Capex D@Longhi 31, 2023 (other) T Free Cash Flow before DVD and M&A Dividend M&A NFP at Mar 31, 2024 12
Slide 13: CEO comments and guidance
In the words of the C.E.O., Fabio de' Longhi: + *Guidance on revenues and adj Ebitda estimated consolidating the business combination between La Marzocco and Eversys from March 1, 2024. 13
Slide 14: Contacts
Contacts: Investor Relations: 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