De'longhi S.p.a. · MIL:DLG
De'longhi — Q3 2021 Earnings Presentation
25 slides from De'longhi's earnings presentation, Nov 10, 2021
Slide 1: 9 Months 2021 Results
i DéLonghi Group 9 MONTHS 2021 RESULTS DéLonghiGroup | KENWooD BRAUN nutribullet. -friete.
Slide 2: Forward-looking statements disclaimer
9 MONTHS 2021 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
Slide 3: Definitions used in this presentation
9 MONTHS 2021 RESULTS 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 • ForEx or FX stand for Foreign Exchange Rate
Slide 4: Recent Developments
: tg SECTION 1 ( “e= obees > ery RECENT DEVELOPMENTS: * THE AMBASSADOR CAMPAIGN * NEW PRODUCT LAUNCHES * OUR COFFEE LOUNGE STORE IN SYDNEY * THE GLOBAL LIGHTHOUSE NETWORK
Slide 5: First global coffee campaign starring Brad Pitt
9 MONTHS 2021 RESULTS On Sept. 2nd we launched our first global campaign in the coffee starring Brad Pitt, with the goal to affirm the De' Longhi brand as the Global Leader and Authority in the Coffee space for households. The campaign is aimed • to increase penetration of machines The campaign is p
Slide 6: Ambassador campaign in premium locations
9 MONTHS 2021 RESULTS Burj Khalifa, Dubai THE AMBASSADOR CAMPAIGN HAS BEEN SHOWING UP IN PREMIUM AND SUPER- PREMIUM LOCATIONS ALL OVER THE PLACE 6
Slide 7: High reach, high quality media focus
Focus on high reach / high 9 MONTHS 2021 RESULTS quality media: prime time TV (first time in some markets), Digital Out of Home, High end Print, Premium in Store execution, Social Media. 7
Slide 8: New coffee machine launches
9 MONTHS 2021 RESULTS Full-auto coffee machine Pump coffee machine Pump coffee machine A user-friendly interface Authentic manual The stylish pump, with My and a customized selection experience; simple and Latte Art steam wand; a of beverages, delivered with rewarding thanks to a full better result
Slide 9: New kitchen machine launches
9 MONTHS 2021 RESULTS Mixer Kitchen machine Kitchen machine The iconic K Chefette bowl Direct to bowl weighing, 1200W motor and the .85 and stand mixer has had a plus you can customise your silver model feautures high sleek new makeover and machine with 8 different quality stainless steel tools incl
Slide 10: 9 MONTHS 2021 RESULTS
9 MONTHS 2021 RESULTS 10
Slide 11: Treviso plant admitted to Global Lighthouse Network
9 MONTHS 2021 RESULTS In order to step up competitiveness, the The De' Longhi's Italian plant has been De’ Longhi Treviso plant invested in admitted to the Global Lighthouse digital and analytics to become: Network of the WORLD ECONOMIC more agile (reducing minimum order FORUM, a community of worl
Slide 12: 9 MONTHS 2021 RESULTS
9 MONTHS 2021 RESULTS 12
Slide 13: 9 months highlights
9 MONTHS 2021 RESULTS Like for like Strong Strongtrend growthin sales driveninby H1, thethanks core to revenues' growth % +46% robust performance products of Coffee and the increased and attention +32% Food over the last of consumers Q “stay at home” for the Volumes Margin and price-mix expansion pr
Slide 14: 9M 2021 revenues and adjusted EBITDA
9 MONTHS 2021 RESULTS At constant Change of (Eur million) 9M - 2021 9M - 2020 perimeter perimeter Revenues 2,149.5 1,943.9 205.6 1,473.2 change % 45.9% 31.9% at constant fx ch. % 49.2% 34.4% Ebitda adjusted 357.0 314.9 42.1 208.7 % of revenues 16.6% 16.2% 20.5% 14.2% The 9M-2021 revenues at consta
Slide 15: Revenues by region
9 MONTHS 2021 RESULTS 9 months Q3 2021 at 2021 at var. % at var. % at EUR milion var. % constant var. % constant constant FX constant FX perimeter perimeter South West Europe 816.6 35.0% 35.0% 256.3 8.5% 8.5% North East Europe 521.5 28.7% 32.6% 175.2 3.8% 4.2% EUROPE 1,338.1 32.5% 34.0% 431.5 6.6% 6
Slide 16: Main ups and downs by region
9 MONTHS 2021 RESULTS Russia, Ukr. & CIS UK 7.3% 4.6% Main Ups & Downs (at constant FX) others NE-EU 14.9% others SW_EU Germany, France, Italy, Spain, 9.8% UP US & Canada, double-digit Russia, UK, Poland, Scandinavia, MEIA, Japan MEIA France 7.2% 8.3% UP single-digit Greater China, Australia & NewZe
Slide 17: Main ups and downs by product category
9 MONTHS 2021 RESULTS Main Ups & Downs (at constant FX) Cooking & Food Prep. 28.4% Coffee makers Coffee Makers UP Cooking & Food Prep 52.8% double-digit Portable heaters, Floor Care, Air conditioning UP Ironing, single-digit Air treatment, Down ====== Comfort & Home care 14.5% Others 4.2% 17
Slide 18: Revenue breakdown by region
9 MONTHS 2021 RESULTS Russia, Ukr. Russia, Ukr. & CIS & CIS 6.6% UK 7.3% UK others NE-EU 4.6% 4.8% 14.0% others NE-EU 14.9% others SW_EU others SW_EU 9.8% 9.0% MEIA 6.8% MEIA France 7.2% France 8.3% 7.5% Americas 17.8% Germany Americas Germany 14.5% 12.2% 13.3% Australia & NZ Australia & NZ 4.8% 4.6
Slide 19: Revenue breakdown by product category
9 MONTHS 2021 RESULTS Cooking & Cooking & Food Food Prep. Prep. 28.4% 33.8% Coffee Makers 52.8% Coffee Makers 49.2% Comfort & Comfort & Home Home care care 14.5% 13.2% Others Others 3.8% 4.2% 19
Slide 20: Reported income statement
9 MONTHS 2021 RESULTS reported 9M-2021 9M-2020 (Eur million) Net industrial margin, equal to 1,079.7M€ improved by 49.6% 1,079.7 721.6 from 49% to 50.2% of revenues, net ind. margin thanks above all to higher volumes % of revenues 50.2% 49.0% and the positive contribution of price-mix (58.1 M€ in
Slide 21: Adjusted EBITDA bridge
9 MONTHS 2021 RESULTS 2.4 58.1 141.6 42.1 187.3 among others: Increased A&P (68.4 M) increases in transport- ation costs 357.0 314.9 208.7 adj. ebitda 9M-20 volumes price/mix FX other costs adj. ebitda 9M-21 change of perimeter adj. ebitda 9M-21 (LFL) (reported) 21
Slide 22: Net financial position and working capital
9 MONTHS 2021 RESULTS reported reported reported Sept. 30, Sept. 30, Change Dec. 31, Change EUR million 2021 2020 12m 2020 9m Net Working Capital 123.5 222.1 -98.6 96.2 27.4 Net Equity 1,453.4 1,265.3 188.1 1,267.4 186.0 Net debt / (Net cash) 216.1 451.5 -235.5 232.0 -15.9 N.W.C. / Revenues 4.1% 9.8
Slide 23: Net financial position bridge
9 MONTHS 2021 RESULTS The Eversys 97.2 21.9 transaction was finalized on May 3, 2021 92.5 366.8 Due to higher inventory level 134.1 198.9 80.8 232.0 216.1 NFP at dec. Operating CF CF from NWC CF from Equity Capex Free Cash Acquisitions Dividend NFP at Sept. 31, 2020 (other) Flow before 30, 2021 DVD
Slide 24: CEO comments and FY 2021 outlook
9 MONTHS 2021 RESULTS Massimo Garavaglia, Group C.E.O.: "The third quarter showed a robust growth trend at a high single digit rate, despite the challenging comparison with the same quarter of last year, which recorded a tremendous growth of +26% versus 2019. The exceptional results obtained in this
Slide 25: Contacts
9 MONTHS 2021 RESULTS Contacts: Investor Relations: Fabrizio Micheli, Samuele Chiodetto T: +39 0422 4131 e-mail: investor.relations@delonghigroup.com Media relations: Mattia Rosati T: +39 0422 4131 e-mail: media.relations@delonghigroup.com On the web: www.delonghigroup.com 25