De'longhi S.p.a. · MIL:DLG
De'longhi — Q1 2021 Earnings Presentation
16 slides from De'longhi's earnings presentation, May 12, 2021
Slide 1: First Quarter 2021 Results
_pevongnigap FIRST 7 2021 RESULTS DéLonghiGroup | KENWwoop BRAUN nutribullet. -Ariece
Slide 2: Disclaimer
Q1 2021 RESULTS 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 cur
Slide 3: Definitions & assumptions
Q1 2021 RESULTS Definitions & assumptions In this presentation: • Adjusted stands for “before non recurring items and inputed costs of the stock option plans” • "At constant exchange rates" means escluding the effects of exchange rates' variations and of hedging derivatives • ForEx or FX stand for F
Slide 4: Highlights
Q1 2021 RESULTS HIGHLIGHTS Like for like Strong Strongtrend growthin sales driveninby H1, thethanks coffeeto revenues' growth % +73% robust performance and the of Coffee increased attention ofand +59% Food over the consumers forlast theQ“stay at home” Volumes Margin and price-mix expansion propelled
Slide 5: Top line & margins (at constant perimeter)
Q1 2021 RESULTS TOP LINE & MARGINS (at constant perimeter) At constant Change of (Eur million) Q1-2021 Q1-2020 perimeter perimeter Revenues 678.7 625.7 53.1 393.3 change % 72.6% 59.1% at constant fx ch. % 64.7% Ebitda adjusted 128.6 117.4 11.2 42.1 % of revenues 18.9% 18.8% 21.1% 10.7% In Q1-2021
Slide 6: Revenues by region (at constant perimeter)
Q1 2021 RESULTS REVENUES BY REGION (at constant perimeter) Q1-2021 a t var. % at var. % at EUR milio n Q1 - 2021 var. % c ons ta nt var. % c o ns tant FX c o ns tant FX pe rime te r S outh We s t E urope 273.8 60.1% 60.1% 273.1 59.7% 59.7% North E a s t E urope 182.9 64.7% 74.6% 176.6 59.0% 68.9% E
Slide 7: Revenues by market (at constant perimeter)
Q1 2021 RESULTS REVENUES BY MARKET (at constant perimeter) UK Russia, Ukr. & CIS 5.5% 7.3% MAIN UPS & DOWNS (organic) others SW_EU 10.0% others NE-EU Germany, 15.4% France, Italy, US & UP DOUBLE DIGIT Canada, Russia, UK, Australia & New Zealand France 8.9% MEIA Greece, Greater China Q1 2021 8.0% UP
Slide 8: Revenues by product line (at constant perimeter)
Q1 2021 RESULTS REVENUES BY PRODUCT LINE (at constant perimeter) MAIN UPS & DOWNS (organic) Coffe makers Cooking & Food Prep UP DOUBLE DIGIT Portable heaters Home Care Q1 2021 UP SINGLE DIGIT Air conditioning DOWN Air treatment
Slide 9: Markets portfolio: new vs. old perimeter
Q1 2021 RESULTS MARKETS PORTFOLIO: NEW vs. OLD PERIMETER Reported (new perimeter) Old perimeter Russia, Ukr. & CIS Russia, Ukr. & CIS UK UK 6.7% 7.3% 5.5% 5.5% others NE-EU 14.7% others SW_EU 10.0% others NE-EU others SW_EU 15.4% 9.3% MEIA France 7.7% 8.9% France Q1 2021 Q1 2021 8.3% MEIA 8.0% Germa
Slide 10: Product portfolio: new vs. old perimeter
Q1 2021 RESULTS PRODUCT PORTFOLIO: NEW vs. OLD PERIMETER Reported (new perimeter) Old perimeter Q1 2021 Q1 2021
Slide 11: Margins
Q1 2021 RESULTS MARGINS reported Q1-2021 Q1-2020 Net industrial margin, equal to (Eur million) 355.1 M€ improved from 50.4% to 52.3% (+79.1%) on revenues, net ind. margin 355.1 198.3 thanks above all to higher volumes % of revenues 52.3% 50.4% and the positive contribution of price-mix; adjusted E
Slide 12: Adjusted EBITDA bridge
Q1 2021 RESULTS ADJUSTED EBITDA BRIDGE among others, increases in transportation costs and A&P
Slide 13: Balance sheet
Q1 2021 RESULTS BALANCE SHEET March 31, 2020 12 months 3 months EUR million March 31, 2021 Dec. 31, 2020 (old perimeter) change change Net working Capital 101.4 256.6 -155.2 96.2 5.3 Net Equity 1,364.0 1,190.7 173.3 1,267.4 96.6 Net Financial Position 318.2 335.0 -16.8 232.0 86.2 Net Bank Position 3
Slide 14: 3 months net cash flow (reported)
Q1 2021 RESULTS 3 MONTHS NET CASH FLOW (reported) 33.2 10.3 19.8 128.9 318.2 232.0 NFP at dec. 31, 2020 Operating CF CF fromNWC CF from Equity (other) Capex NFP at Mar. 31, 2021
Slide 15: FY 2021 guidance
Q1 2021 RESULTS FY 2021 GUIDANCE Massimo Garavaglia, Group C.E.O.: "The extraordinary results achieved further consolidate De' Longhi's position among the leaders in the industry. (…) The signals that we receive from the markets in these first weeks of the second quarter reasonably suggest, for the
Slide 16: Contacts
CONTENTS • Q1 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