De'longhi S.p.a. · MIL:DLG
De'longhi — Q1 2022 Earnings Presentation
17 slides from De'longhi's earnings presentation, May 12, 2022
Slide 1: Q1-22 Results
i DéLonghi Group Qt-22 RESULTS DéLonghiGroup | KENWooD BRAUN nutribullet. -friete.
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 • “ForEx” or “FX” stand for Foreign Exchange Rates; • "Like-for-lik
Slide 4: 4
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Slide 5: Q1 2022 key figures
Solid growth driven by the coffee revenues' growth % +8.4% business and the strength of the presence in the international areas A decline of the margin, due mainly to adjusted Ebitda margin 13.6% cost inflation, negative FX and the increased spend in A&P 12 months Free Cash Flow Solid cash generatio
Slide 6: Revenues and adjusted EBITDA Q1 2022 vs Q1 2021
(Eur million) Q1 - 2022 Q1 - 2021 Revenues 735.5 678.7 change % 8.4% at constant perimeter % 5.5% Ebitda adjusted 100.1 128.6 % of revenues 13.6% 18.9% Q1-2022 revenues grew by 8.4% or 5.5% at constant perimeter; The main geographic areas, with the exception of North-Eastern Europe, closed the q
Slide 7: Revenues by geographic area
var. % at EUR million Q1 - 2022 var. % constant FX • South-western Europe grew by 3.9% in the quarter, thanks to the expansion of Germany at a double digit growth rate and the high single digit development of the Iberian region South-West Europe 284.5 3.9% 3.5% and Austria; North-East Europe 170.0 -
Slide 8: Revenue trend by product category
UP double-digit UP single-digit Down 8
Slide 9: Revenues by product category
Cooking & Food Prep. 28.1% Coffee Makers 56.5% UP double-digit UP single-digit Down Comfort & Home care 10.8% Others 4.6% 9
Slide 10: Net industrial margin, EBITDA, EBIT and net income
Q1-2022 Q1-2021 net industrial margin, stood at (Eur million) 51.1% of revenues compared to 52.3% last year, (but at constant net ind. margin 375.6 355.1 exchange rates, the margin would % of revenues 51.1% 52.3% have stood at 52.6%, improving vs. last year); adjusted Ebitda 100.1 128.6 adjusted
Slide 11: Adjusted EBITDA drivers
among others: Increased A&P (ca.18 M) increases in transportation costs and raw materials and components 11
Slide 12: Operating NWC, net equity and net financial position
EUR million change change 31.3.2022 31.12.2021 31.3.2021 (3 months) (12 months) operating NWC 334.7 199.7 135.0 253.1 81.5 Net Equity 1,632.3 1,570.6 61.7 1,372.8 259.5 Net Financial Position 274.6 425.1 -150.5 314.1 -39.5 Net financial position as at 31.3.2022 stood at 274.6 M€, decreasing from 2
Slide 13: Net cash flow Q1-22
Q1-22 RESULTS 3 MONTHS NET CASH FLOW - — | NFP at dec. 31, 2021 Operating CF CF from NWC CF from Equity (other) Capex NFP at March 31, 2022 DéLonghiGroup | Delonghi) KENWOOD BRAUN nutribullet. -Ariete.
Slide 14: The Eversys transaction was finalized in Q2-21
The Eversys transaction was finalized in Q2-21 14
Slide 15: Key takeaways
Q1-22 RESULTS KEY TAKEAWAYS Positive growth in Q1-2022, despite the difficult comparison with Q1-2021 (which was up by ca. 60% LFL), thanks to the still strong trend in coffee. Albeit in a scenario of evolving uncertainty, the first months results and the feedback received from the markets support u
Slide 16: FY 2022 guidance (confirmed)
FY 2022 guidance + (confirmed) 16
Slide 17: Investor Relations
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 DéLonghiGroup | KENwoop BRAUN nutribullet. 17