Slide 1: H1 & Q2 2024 Results
| DeLonghi Group H1 & Q2 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: H1 2024 key figures
Revenues growth was pushed by the revenues' growth % +10.3% partial consolidation of La Marzocco and the organic growth in the household segment (+7% excluding comfort) H1 margins significantly higher than last adjusted Ebitda % margin 14.4% year, thanks to operating leverage and the consolidation o
Slide 5: H1-24 revenues up 10.3%
H1-24 revenues were up by 10.3% (+11.0% in Q2-24), thanks to the change in perimeter and the continuation of the positive momentum for the Group’s core categories (coffee and nutrition and food prep.). Organic growth in Q2-24 (+1.5% vs Q2-23) was affected by the weakness of the comfort segment i
Slide 6: Growth by geography in the quarter
All geographies recorded a positive growth rate in the quarter, in particular: South-West Europe grew by 6.5%, corresponding to a mid-single digit organic growth that was partially affected by the weakness of the comfort business. Within this context, certain markets such as Austria, Switzerland a
Slide 7: Revenues by key market H1-24
Q2 & H1 2024 RESULTS REVENUES BY KEY MARKET (%) H1-24 SOUTH WEST EUROPE 35% AMERICAS 18% NORTH EAST EUROPE 26% DéLonghi Group Main Ups & Downs (at constant FX and perimeter) USA and Canada Greater China, Japan, Italy
Slide 8: Revenues by product line H1-24
Q2 & H1 2024 RESULTS REVENUES BY PRODUCT LINE (%) H1-24 OTHER Main Ups & Downs COMFORT & HOME (at constant FX and perimeter) CARE H1-24 NUTRITION & F¢ PREP. 24% COFFEE MAKERS 62% Pump coffee makers Deep fryers, Comfort DéLonghi Group
Slide 9: Q2 net industrial margin and adjusted EBITDA margin
In the quarter: net industrial margin was up to 51.2% of sales from 48.8% in 2023; positive contributions from the price-mix and certain industrial costs; adjusted Ebitda margin strongly improved reaching 14.5% of sales from 12.5% in 2023. Improvement in profitability was driven by the turnover’
Slide 10: Bridge to Adjusted EBITDA Q2-2024
Q2 & H1 2024 RESULTS BRIDGE TO ADJUSTED EBITDA Q2-2024 3.1 Es 27 a (9.1) among others: > higher labour costs, > higher logistic costs. EBITDA Adj. Q2 23 Volume (*) Price/Mix Other costs Forex EBITDA Adj. Q2 24 DéLonghi Group (*) Including the impact of the consolidation of La Marzocco
Slide 11: Bridge to Adjusted EBITDA H1-2024
Q2 & H1 2024 RESULTS BRIDGE TO ADJUSTED EBITDA H1-2024 17 PC } 08 (6.8) among others: > higher labour costs, EBITDA Adj. 1H 23 Volume (*) Price/Mix Other costs Forex EBITDA Adj. 1H 24 DéLonghi Group (*) Including the impact of the consolidation of La Marzocco a
Slide 12: Positive Net Financial Position at half year
The Group closed the first half of 2024 with a positive Net Financial Position at € 305.3 million, in line with 2023 notwithstanding the cash absorption experienced in 1Q-24 for the acquisition of La Marzocco; Free Cash Flow before dividends and M&A was equal to € 74.3 million in the six months
Slide 13: Net cash flow (6 months)
Q2 & HI 2024 RESULTS NET CASH FLOW (6 MONTHS) 186.1 (79.3) 662.6 (60.0) NFP at Cash flow by Cash flow Capex Dec. 31, 2023 current operations from NWC DéLonghi Group 27.5 Other FCF before dividend & M&A (431.6) Dividends & M&A i Including €326.8 M of net absorption in relation to the closing of the b
Slide 14: Net cash flow (12 months)
Q2 & H1 2024 RESULTS NET CASH FLOW (12 MONTHS) 475.6 311.7 NFP at Cash flow by Jun, 30, 2023 current operations DéLonghi Group 54.3 Cash flow from NWC (134.2) Capex 29.5 P| Other TTT H : ‘ : ‘ H ‘ : i : q 425,2 q ‘ H ‘ : i : ‘ : ‘ H ‘ : i : ‘ : t H FCF before dividend & M&A Including €326.8 M of net
Slide 15: Key takeaways
Q2 & H1 2024 RESULTS KEY TAKEAWAYS The Group confirmed its positive momentum in H1-24, capitalising on structural coffee market growth and meeting new consumers’ 1 nutrition and food preparation needs. Strong profitability improvement compared to H1-23 thanks to turnover's expansion, easing of indus
Slide 16: FY 2024 Guidance
Q2 & H1 2024 RESULTS FY 2024 GUIDANCE In the words of the C.E.O., Fabio de’ Longhi: “The Group achieved an expansion in turnover of more than 10% also in the second quarter, benefiting both from the consolidation of the professional coffee area and from the continuation of development in the core ca
Slide 17: 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 DéLonghi Group