Business
De' Longhi S.p.A.: first quarter results
De' Longhi S.p.A.: first quarter
About this update from De'longhi S.p.a.
Q1 2026 Results presentation May 12th 2026 Q1 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 Rates; "M" stands for million and "bn" stands for billion; Q1 stands for first quarter (January 1st - March 31st); "NWC" stands for Net Working Capital; "Capex" stands for capital expenditures, i.e. investments in fixed assets; "FCF" stands for free cash flow before dividends, Buyback and M&A; "Professional division" means the business combination between La Marzocco & Eversys; "Household division" includes the business not part of the professional division. Q1 2026 Results 1 Big Campaign Idea: The Smallest Coffee Shop at Home 1500 Hours of craftsmanship with designer Simon Weisse 5 De'Longhi Coffee Machines reimagined 55+ Influencers & journalists from over 12 markets 3000+ Consumer visits + coffees consumed YoY at constant fx Solid performance, sustained by positive organic growth in household and an outstanding 40% growth in professional +80bps margin expansion, driven by professional division expansion and slight moderation in household margins Further balance sheet strengthening provides maximum strategic flexibility for capital allocation Solid FCF generation supporting a disciplined capital allocation strategy with over €300M in dividends and €61M buyback in two years Q1 2026 Results at constant fx Professional Coffee Up double digit Q1 2026 Results Reported figures Home Coffee Including accessories Nutrition Other Slightly negative Down mid-single digit Up low-single digit Q1 2026 Results MEIA Down mid-single digit Up mid-single digit APAC Up high-single digit Up high-teens America Up high-single digit Up high-teens Europe Reported figures Constant FX Up low-single digit Up low-single digit In the quarter: Adjusted EBITDA amounted to €126 million, or 16.2% of revenues, an improvement of 80 basis points compared to the previous year. This improvement was mainly supported by the strong growth of the Professional division, which carries margins above the Group average. Among others: Lower product costs Higher US duties In March 2026, the Group's Net Cash Position stood at € 721 million, representing a significant im...