De'longhi S.p.a. · MIL:DLG
De'longhi — H1 & Q2 2026 Earnings Presentation
14 slides from De'longhi's earnings presentation, Jul 30, 2026
Slide 1: H1 & Q2 2026 Results presentation
H1 & Q2 2026 Results presentation July 30th 2026
Slide 2: H1 & Q2 2026 Results
H1 & Q2 2026 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
H1 & Q2 2026 Results In this presentation: • “Adjusted” stands for before non recurring items and cost of the share-based incentive plans • “Constant exchange rates" means excluding the effects of exchange rates' variations and of hedging derivatives; • “ForEx” or “FX” stand for Foreign Exchange Rat
Slide 4: Solid performance, driven by positive organic growth in the Household division
YoY at constant fx Solid performance, driven by +170 bps margin expansion, positive organic growth in the driven by the strong growth of Household division and outstanding the Professional division and expansion in Professional duty refunds Further balance sheet Solid FCF generation supporting a str
Slide 5: H1 & Q2 2026 Results
H1 & Q2 2026 Results at constant fx
Slide 6: Home Coffee Nutrition Other / Professional Coffee
H1 & Q2 2026 Results Home Coffee Nutrition Other Professional Coffee Including accessories H1-26 Up low-single Down low-single at constant FX Up low-teens Up double-digit digit digit Q2-26 Up mid-single Down low-single Up double-digit Up double-digit at constant FX digit digit
Slide 7: Europe America APAC MEIA
H1 & Q2 2026 Results Europe America APAC MEIA H1-26 Up mid-single Up high-single Down low-single at constant FX Up high-teens digit digit digit Q2-26 Up high-single Up mid-single Up double-digit Low low-teens at constant FX digit digit
Slide 8: Adjusted EBITDA in the quarter
H1 & Q2 2026 Results In the quarter: Adjusted EBITDA amounted to €158 million, or 17.6% of revenues, representing a 260 basis point improvement compared to the prior year. This margin expansion was mainly supported by strong growth in the Professional division — which carries margins above the Gro
Slide 9: Margin drivers: product costs, A&P, duty refunds
H1 & Q2 2026 Results Among others: Lower product costs Higher A&P investments Net duties refunds ca. €15M
Slide 10: Net cash position and free cash flow
H1 & Q2 2026 Results In March 2026, the Group's Net Cash Position stood at € 687 million, representing a significant improvement compared to €346 million of last year; Free Cash Flow (before dividends, buybacks, and acquisitions) was positive at €78 million in the first half. This result was ach
Slide 11: Net Cash Flow (H1 2026)
H1 & Q2 2026 Results NET CASH FLOW (HI 2026) 78 (85) — 770 5) NFP @ 31Dec25 Cash flow from current operations Cash flow from NWC Capex Other FCF before dividends, buyback and M&A (162) Dividends, buyback & M&A DéLonghi Group 687 NFP @ 30Jun26
Slide 12: Outlook: Professional division momentum, Household in line
Professional division delivered remarkable momentum Household division tracking in line with expectations, following early-year channel destocking Strategic A&P investments reconfirmed to drive growth and brand equity Duty refunds of ~€15M included Cost pressures incorporated to reflect cu
Slide 13: Household and Professional growth drivers
Household business growth, capitalizing Volume expansion coupled with a better mix on positive coffee market developments and expanding categories through product Continued investment in A&P to support innovation and strategic A&P investments growth, while optimizing cost incidence on revenues
Slide 14: 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