| The Board of Directors of De' Longhi S.p.A. has approved the consolidated results for the first nine months of 2024. |
| In the third quarter, the Group achieved: |
| Revenues of €805.5 million, up by 14.0% (5.2% on a like-for-like2 basis). |
| An adjusted Ebitda3 of €131.1 million, representing 16.3% of revenues and an increase of 25%; Ebit equal to € 97.0 million, representing 12.0% of revenues, increasing by 29.9%. |
| Over the nine months, the Group reported: |
| Revenues of €2,229.2 million, up by 11.6% (4.1% on a constant perimeter basis). |
| An adjusted EBITDA of €335.8 million, representing 15.1% of revenues and an increase of 26.7%; Ebit is equal to € 240.8 million, equal to 10.8% of revenues, increasing by 31.7%. |
| A net profit of €173.8 million, representing 7.8% of revenues (up from 7.1%, a rise of 22.2%). |
| Positive cash flow before dividends and M&A of €35.6 million. |
| As of September 30, 2024, the Group's net financial position was positive at €266.1 million. |
| CEO Fabio de’ Longhi commented: |
| “The Group improved the excellent performance of recent quarters, with a 14% increase in revenue, benefitting from both the consolidation of La Marzocco and acceleration in the household sector. |
| The past year and a half have shown stability and persistence in trends across our categories, thanks to a structurally expanding market, which we have supported through investments in innovation and communication. Specifically, in addition to the renewed commitment to De’Longhi’s global coffee campaign and Braun’s Restyle ironing products, we supported the launch of new products in the quarter, such as Nutribullet’s Flip and Kenwood’s ‘Go ‘collection, with dedicated events of and social media campaigns. |
| Moreover, in the professional coffee sector, La Marzocco has reaffirmed its market leadership, further developing its business and strengthening its presence in luxury household goods with targeted partnership initiatives, including the creation of an exclusive ‘Porsche X La Marzacco’product line. |
| I am fully satisfied with the improvement in profitability, with EBIT growing at double the pace of revenue growth. In addition to the expanding scope, these improvements benefited from stabilised production costs and favourable product mix effect, indicating the continued growth of our consumers’ interest in the premium segments of our product portfolio.” |
| For the full document click the link below: |
| De' Longhi S.p.A |
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