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 ResultsReported 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 improvement compared to €482.8 million the previous year;
Free Cash Flow (before dividends, buybacks, and acquisitions) was negative at €44.1 million in the quarter. This was due to typical seasonality affecting net working capital, which involved restocking inventory following significant sales in the fourth quarter.
Capital expenditure amounted to €18.9 million, down €9.6 million compared to 2025
Household business growth, capitalizing on positive coffee market developments and expanding categories through product innovation and strategic A&P investments
Professional coffee expansion, sustained by structural tailwinds, including rising global consumption, specialty shop proliferation, and a shift toward premiumization
Volume expansion coupled with a better mix
Continued investment in A&P to support growth, while optimizing cost incidence on revenues
Controlled Opex increases to strengthen the organizational structure
Investor Relations:
Samuele Chiodetto, Sara Mazzocato
T: +39 0422 4131
e-mail: investor.re!ationsOdelonghigroup.com
Media relations:
T: +39 0422 4131
e-mail: media.re!ations@delonghigroup.com
On the web:
www.de!onghigroup.com
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