Slide 1: 9 Months 2020 Results
DéLonghiGroup | KENWoop BRAUN
Slide 2: Foreword
9 MONTHS 2020 RESULTS Foreword Since Oct. 1st 2019, some contributions to customers (previously included within the financial charges section of the Profit & Loss scheme) were treated as commercial premiums, hence netting revenues. However, for comparative purposes, in some cases, the figures herein
Slide 3: Definitions & assumptions
9 MONTHS 2020 RESULTS Definitions & assumptions In this presentation: • Adjusted stands for “before non recurring items and inputed costs of the stock option plan” • ForEx or FX stand for Foreign Exchange Rates; • “M” stands for million and “bn” stands for billion. • Normalized stands for excluding
Slide 4: Contents
CONTENTS • Update on business evolution • New products • 9 months 2020 results
Slide 5: Media spending, consumers engagement and new launch journey
9 MONTHS 2020 RESULTS Media spending, consumers engagement and new launch journey More investments in the Virtual digitalization process of the PR launch events events New activities in the on-line Live space to enhance the customer demos engagement Supplementary efforts to renew Perfect the focus o
Slide 6: Media spending, consumers engagement and new launch journey
9 MONTHS 2020 RESULTS Media spending, consumers engagement and new launch journey INFLUENCERS New social media strategy to increase brand awareness, to Social enlarge our audience and to media improve the conversion Spending dedicated to enlarge the New coffee category and build up the events brand
Slide 7: Distribution channels
9 MONTHS 2020 RESULTS Distribution channels YTD revenues growth On-line and Off-line channels 60.0% During this complex period, people have 40.0% changed the consumption priorities and shifted their demand patterns, embracing 20.0% new purchasing styles and choices. 0.0% -20.0% -40.0% Jan Feb Mar Ap
Slide 8: Contents
CONTENTS • Update on business evolution • New products • 9 months 2020 results
Slide 9: Coffee Makers: new products
9 MONTHS 2020 RESULTS Coffee Makers: new products PRIMADONNA SOUL La Specialista Maestro ELETTA Capuccino EVO Full-auto coffee machine Pump coffee machine Full-auto coffee machine Bean Adapt Technology, New advanced settings New LCD display with a High precision dedicated to the different more frien
Slide 10: Cooking & Food Preparation: new products
9 MONTHS 2020 RESULTS Cooking & Food Preparation: new products COOKING CHEF XL NEW MULTIQUICK 9 TITANIUM CHEF Kitchen Machine Hand Blender PATISSIER XL Machine connected; New functionality (imode Kitchen Machine CookAssist™ technology); ActiveBlade The ultimate baking and touchscreen, preset Technol
Slide 11: Comfort & Home Care: new products
9 MONTHS 2020 RESULTS Comfort & Home Care: new products HSX DIGITAL CARESTYLE 1 EX130 Portable heater Steam Generator Irons Portable Air Conditioner Digital precision DoubleSteam Technology Optimal balance of thermostat; countdown and FreeGlide 3D temperature and timer for delayed humidity; up to 30
Slide 12: Contents
CONTENTS • Update on business evolution • New products • 9 months 2020 results
Slide 13: Highlights (9 months normalized)
9 MONTHS 2020 RESULTS Highlights (9 months normalized) Strong trend Favorable in sales trend in H1, in sales thanks in the 9M,to revenues' growth % +13.9% robust performance boosted of Coffee by an acceleration of and the Food over the last Q growth over the last quarter Marginexpansion Margin expan
Slide 14: The topline
9 MONTHS 2020 RESULTS The topline reported normalized reported normalized reported 9M 2020 9M 2020 9M 2019 Q3 2020 Q3 2019 (Eur million) Revenues 1,473.2 1,484.6 1,303.7 580.9 458.2 change % 13.0% 13.9% 26.8% organic ch. % 14.8% 29.8% In the nine months of 2020 the normalized revenues grew by 13.9
Slide 15: Revenues by region
9 MONTHS 2020 RESULTS Revenues by region 9 months organic chg. organic chg. Normalized figures - EUR million chg. % Q3-2020 chg. % 2020 % % South West Europe 614 20.3% 20.0% 240 35.9% 35.6% North East Europe 407 13.0% 15.2% 169 26.4% 31.6% EUROPE 1,021 17.3% 18.0% 409 31.8% 33.9% MEIA (MiddleEast/In
Slide 16: Revenues by market (normalized)
9 MONTHS 2020 RESULTS Revenues by market (normalized ) Russia, Ukr. & CIS 7.7% others SW_EU MAIN ORGANIC UPS & DOWNS 10.8% others NE-EU 14.9% Germany, UK France, UK, Poland 4.8% UP DOUBLE DIGIT Australia & New Zealand, China & HK, US & Canada MEIA France 5.3% 7.1% 9M 2020 UP SINGLE DIGIT Italy, Swit
Slide 17: Revenues by product (normalized)
9 MONTHS 2020 RESULTS Revenues by product (normalized ) Cooki ng & Food MAIN ORGANIC UPS & DOWNS Prep. 27.8% full-auto machines, manual pump machines, UP DOUBLE DIGIT kitchen machines, air conditioning, vacuum cleaner 9M 2020 UP SINGLE DIGIT Food processor, toaster, drip coffee and others coffee pro
Slide 18: Margins
9 MONTHS 2020 RESULTS Margins reported normalized reported normalized reported 9M 2020 9M 2020 9M 2019 Q3 2020 Q3 2019 (Eur million) net ind. margin 721.6 733.0 615.9 289.7 216.4 % of revenues 49.0% 49.4% 47.2% 49.9% 47.2% adjusted Ebitda 208.7 220.0 157.9 101.2 60.1 % of revenues 14.2% 14.8% 12.1%
Slide 19: Nine months adjusted Ebitda bridge (normalized)
9 MONTHS 2020 RESULTS Nine months adjusted Ebitda bridge (normalized ) 14.3 4.7 19.7 72.2 among others, increases in A&P and duties on the US market. 220.0 157.9 adj. ebitda 9M 19 volumes price/mix FX other costs adj. ebitda 9M 20 normalized 19
Slide 20: Balance sheet (reported)
9 MONTHS 2020 RESULTS Balance sheet (reported) reported reported reported Sept. 30, Sept. 30, EUR million Change Dec. 31, 2019 Change 2020 2019 Net Working Capital 222.1 387.8 -165.7 318.8 -96.7 Net Equity 1,265.3 1,103.5 161.8 1,190.5 74.9 Net debt / (Net cash) 451.5 101.5 350.0 277.8 173.7 N.W.C.
Slide 21: The net cash flow in the nine months 2020 (reported)
9 MONTHS 2020 RESULTS The net cash flow in the nine months 2020 (reported ) 2.0 24.9 58.7 NO dividend distributed in the Included IFRS16 205.5 9 months negative impact 173.7 of 77 M€ 451.5 277.8 NFP at Dec. 31, Operating CF CF fromNWC CF from Equity Capex Free Cash Flow NFP at Sept. 30, 2019 (other)
Slide 22: A&P by quarters
9 MONTHS 2020 RESULTS A&P by quarters 16.0% 120 14.0% 100 Over the last quarters, the 12.0% 80 Group has increased the 10.0% level of A&P in order to 8.0% 60 sustain the future growth, to take advantage of the 6.0% 40 positive momentum and to 4.0% retain the leadership across 20 2.0% the main market
Slide 23: 2020 outlook
9 MONTHS 2020 RESULTS 2020 outlook Massimo Garavaglia, Group C.E.O.: “We have always been convinced of the strength of our brands and the potential of our products: beyond the contingent conditions of the market, we believe in the superiority of iconic products supported by investment campaigns that
Slide 24: Disclaimer
APPENDIX 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 ex
Slide 25: Contacts
THANK YOU. Contacts: Investor Relations: Fabrizio Micheli / Samuele Chiodetto T: +39 0422 4131 investor.relations@delonghigroup.com