Business
De'Longhi S p A : Corporate Presentations 9M 2025
De'Longhi S p A : Corporate Presentations 9M
About this update from De'longhi S.p.a.
9M & Q3 2025 Presentation November 12th 2025 9M & Q3 2025 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; "pro-forma" means including the consolidation of La Marzocco for 9 months in 9M 2024; "ForEx" or "FX" stand for Foreign Exchange Rates; "M" stands for million and "bn" stands for billion; "Q3" stands for third quarter (July 1 st - September 30 th ); "9M" stands for nine months (January 1 st - September 30 th ); "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 and M&A; "Professional division" means the business combination between La Marzocco & Eversys; "Household division" includes the business not part of the professional division. DéLonghi Group 9M & Q3 2025 Results YoY % growth reported - Household division +7% +4% +6% +High-single% CAGR Last 2Y 2% 7% 7% 6% (*) 12% 5% 7% Q1 Q2 Q3 Q4 2024 2025 (*) Q4 '25 extrapolated from Group's guidance Household division positive growth momentum continuous, backed by new product lunches and renewed commitment in media & communication investments 5 9M & Q3 2025 Results ca. US mitigation plan Tariff impact has been limited in the first 9 months of FY 25 thanks to the mitigation plan in place: Inventory build-up in early 2025 Unlocking higher flexibility through supply chain reorganization Implementation of price increases starting from H2 2025 Expected net impact on Ebitda Adjusted in FY 25 of €M ca.15 already incorporated in FY guidance US sourcing expo. (%) South East Asia Europe China Other Total 6 Data based on management accounts DéLonghi Group 9M & Q3 2025 Results DéLonghi Group Solid performance sustained by the positive momentum for household & acceleration of professional coffee Profitability rose by 70bps vs 9M24 thanks to both household & professional division growth Improving net financial position notwithstanding ca. €M 252 of dividends distribution & buyback over last 9m Solid free cash flow generation in the 12m notwithstanding higher level of inventory expected to normalize in Q4 9M & Q3 2025 Results +29.2% pro-forma Professional Coffee Up double digit 9M & Q3 2025 Results Home Coffee Nutrition Other Up high single digit Down low-mid single digit Up low teens Europe Up high single digit to low teens America Up high single digit APAC Up mid teens MEIA Up mid teens 9M & Q3 2025 Results 9M & Q3 2025 Results In the quarter: the net industrial margin stood at €M 461.6, equal to 52.6% of revenues compared to 51.6% in 2024; adjusted Ebitda amounted to €M 148.8, or 17.0% of revenues, improving by 70 bps vs 2024, thanks to the stronger contribution of the professional division. 9M & Q3 2025 Results Among others: Higher labour and logistic costs US duties 9M & Q3 2025 Results Among others: Higher labour and logisitc costs US duties Higher media & advertising 9M & Q3 2025 Results In September 2025, the Group's Net Cash Position stood at € 308.7 million, an improvement compared to € 266.1 million in September 2024; In the first 9m, cash flow before dividends, buybacks and acquisitions was negative for €82.2 million, mainly due to the effect of the cash absorption related to the increase in inventory (absorbing € 288.1 million in cash), which peaks in Q3 following the ordinary seasonality of the business; With regards to cash generation, the cash flow before dividends, buybacks and acquisitions was € 298.3 million in the 12 months. 9M & Q3 2025 Results NET CASH FLOW (9 MONTHS) DéLonghi Group 389 643 (71) (50) (82) 309 NFP @ 31Dec24 Cash flow Cash flow Capex Other FCF before dividends, Dividends, buyback NFP @ 30Sep25 from current operations from NWC buyback and M&A & M&A 9M & Q3 2025 Results NET CASH FLOW (12 MONTHS) DéLonghi Group 266.053 (6.541) 298 308.663 NFP @ 30Sep24 Cash flow Cash flow Capex Other FCF before dividends, Dividends, buyback NFP @ 30Sep25 from current operations from NWC buyback and M&A & M&A Household business growth , capitalizing on positive market developments and driving categories expansion through product innovation and A&P investments Professional coffee expansion, continuous structural market growth, targeted luxury home partnership, together with two months of perimeter expansion Volume expansion coupled with a better mix ▪ Perimeter expansion with two additional months of La Marzocco consolidation Continuous investments in A&P supportive of growth, optimising the incidence on revenues ▪ ▪ Negative impact of tariffs on the US market Controlled Opex increase to strengthen organizational structure Investor Relations: Samuele Chiodetto, Sara Mazzocato T: +39 0422 413 1 e-mail: investor.re!ationsOdelonghigroup.com Media relations: T: +39 0422 413 1 e-mail: [email protected] On the web: www.de!onghigroup.com