Slide 1: FY 2024 and Q4-24 Results
9M & Q4 2024 RESULTS FY 2024 and Q4-24 Results March 14th 2025
Slide 2: Forward-looking statements disclaimer
Q4 & FY 2024 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: Definitions used in this presentation
Q4 & FY 2024 RESULTS In this presentation: • “Adjusted” stands for before non recurring items and cost of the stock option plans • “Constant exchange rates" means excluding the effects of exchange rates' variations and of hedging derivatives • At “constant perimeter” or “Organic” or “Like for Like”
Slide 4: Key Trends
KEY TRENDS DéLonghi Group
Slide 5: Organic growth by quarter
Q4 & FY 2024 RESULTS 6th quarter in a row of organic growth, combined with La Marzocco consolidation 17.6% 14.0% 11.0% 9.4% 8.4% 4.7% 3.3% -2.9% -3.9% -4.7% -5.8% End of normalization with retailers de-stocking & US portable air conditioning discontinuity -18.1% 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q
Slide 6: Adjusted EBITDA by quarter
Q4 & FY 2024 RESULTS 250 18.0% 250 18.0% 250 18.0% 250 20.0% 16.3% 17.7% 17.0% 16.0% 16.0% 18.0% 14.9% 16.6% 14.5% 200 16.0% 200 200 200 16.0% 14.0% 14.0% 14.6% 12.5% 12.3% 15.0% 14.0% 13.6% 14.2% 12.0% 12.0% 150 14.0% 150 150 150 12.0% 10.0% 9.2% 10.0% 13.0% 10.0% 6.9% 8.0% 8.0% 100 12.0% 100
Slide 7: FCF before dividends and M&A; positive net financial position
Q4 & FY 2024 RESULTS FCF before dividends & M&A Positive Net financial position 663 643 425 436 407 416 364 299 228 2020 2021 2022 2023 2024 7
Slide 8: De'Longhi Group
Q4 & FY 2024 RESULTS DéLonghi Group
Slide 9: Sustainability initiatives
Q4 & FY 2024 RESULTS •Products refurbishment (Renova) •Diversity, Equity & Inclusion Policy •SBTi commitment •Eco-design guidelines for coffee makers 9
Slide 10: FY 2024 highlights
Q4 & FY 2024 RESULTS Solid organic growth of core categories in all +13.7% the quarters, combined with consolidation for 10 months of La Marzocco Robust improvement in profitability vs 2023 16.0% thanks to the consolidation of La Marzocco, premiumisation of product mix and tailwinds on production co
Slide 11: Quarter performance by region
Q4 & FY 2024 RESULTS In the quarter: Western Europe area achieved turnover growth of 13.5%, or 10.5% on a like-for-like basis, sustained by the internationalization of Nutribullet, the premiumization trend in coffee favoring De' Longhi-branded automatic machines, and the success of Braun-branded i
Slide 12: Regional growth overview
Q4 & FY 2024 RESULTS Asia Pacific 14% Czech Republic /Poland UP Western Europe 35% Saudi double-digit Switzerland Iberia/Austria Americas 18% Australia & New Zealand UP UK Germany single-digit France Turkey /Greece MEIA 6% Japan South Korea Down Noth Eastern Europe 27% 12
Slide 13: Product category growth overview
Q4 & FY 2024 RESULTS Comfort, homecare & other 14% Fully-Auto UP Personal blenders double-digit Hand blenders Ironing Nutrition & food Capsule systems prep 24% UP Blenders single-digit Kitchen machines Coffee makers 62% Manual coffee makers Down Comfort segment 13
Slide 14: Quarter industrial margin and adjusted EBITDA
Q4 & FY 2024 RESULTS In the quarter: the net industrial margin stood at €M 627, equal to 49.4% of revenues compared to 48.1% in 2023, benefitting from the increase in volumes and tailwinds on certain production costs; adjusted Ebitda amounted to €M 224, or 17.7% of revenues, improving by 110 bps
Slide 15: Cost drivers
Q4 & FY 2024 RESULTS Among others: Higher labour costs Higher logistics costs Higher media & advertising 15
Slide 16: Cost drivers: industrial costs, labour, advertising
Q4 & FY 2024 RESULTS (41) Among others: Lower industrial costs Higher labour costs Higher media and advertising 16
Slide 17: Net financial position and free cash flow
Q4 & FY 2024 RESULTS The Group ended the FY 2024 with a positive Net Financial Position of €M 643, substantially in line with FY 2023 levels, thanks to an excellent cash flow generation over Q4 24, notwithstanding the outflows related to dividends payment and M&A Free Cash Flow before dividends
Slide 18: Net cash flow (12 months)
Q4 & FY 2024 RESULTS DéLonghi Group NET CASH FLOW (12 MONTHS) 543 Le 416 . m7 z (128) 663 NFP @ 31Dec23, Cash flow Cash flow Capex Other FCF before Dividends NFP @ 31Dec24 from current operations from NWC dividends and M&A. & MBA 18
Slide 19: Organic growth, record adjusted EBITDA, cash generation
Q4 & FY 2024 RESULTS Sound organic GROWTH Record Adjusted EBITDA Over €m 400 cash driven by home coffee & with 16% margin generation (before dividends nutrition & M&A) granting flexibility on capital allocation Expansion in professional Effective media & €1.25 dividend per share, coffee, surfing the
Slide 20: Outlook drivers and headwinds
Q4 & FY 2024 RESULTS Volume expansion coupled with a better product mix Household business growth, capitalizing on positive market developments and Perimeter expansion with two additional driving categories expansion through months of La Marzocco consolidation product innovation and A&P invest
Slide 21: 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