Excellent news from America (+11%) and Asia (+16%) but in Europe, where the group generates 60% of its turnover, sales fell by 11% in the fourth quarter and by 10% in the whole of 2022 .De’ Longhi closed 2022 with consolidated revenues of 3.16 million euros, a decrease of 2% compared to 2021. In particular, the bad performance in the fourth quarter (-4%) weighed heavily. At constant exchange rates, i.e. without considering the effect of the euro falling against the dollar and other currencies, 2022 turnover would be 6% lower than that of 2021. De’Longhi, like the whole sector, had a good first semester and then suffered from the weakening of the demand for goods in the European area which represents around 60% of sales. In Europe De’Longhi sold 10% less than in 2021.
All non-European markets performed much better, in particular America (+10.8% to 624 million), the Middle East, India and Africa (+7.9% to 197 million) and the rest of Asia (+15.9% to 464 millions).
“ The fourth quarter performance ”, said the Chief Executive Officer Fabio De’Longhi , “ is a prelude to a possible trend in the margins of the year just closed in line with the high part of our guidance’, which estimated an adjusted EBITDA between 320 and 340 million. For 2023 De’ Longhi sees a year with sales ‘slightly down’, with ‘a second half of a slight recovery’ . The consolidated results will be approved by the board on 13 March.
The Board of Directors of De’ Longhi SpA has approved the appointment of Nicola Serafin as General Manager, reporting directly to the Chief Executive Officer Fabio de’ Longhi, thus completing the search process for a candidate for the role of Chief Executive Officer.
In the new position, which will take effect from 1 January 2023, Nicola Serafin will have ordinary administration powers for the management of the Group.
Nicola Serafin joined the De’ Longhi Group in 2000 after experiences in Danieli SpA and in the Benetton Group. Graduated with honors in Mechanical Engineering and with an Executive Master in Business Administration at the London Business School, Nicola Serafin held roles with increasing responsibilities in the technical and production fields until his appointment in September 2016 as Chief Operating and Technology Officer, across the entire R&D, supply chain, manufacturing and logistics platform, as well as being a member of the boards of directors of various Group companies. The curriculum vitae of Eng. Nicola Serafin – which as of today holds no. 1,400 De’ Longhi shares – is published on the company’s website
Capsule Desk Loop is the first De’Longhi fan heater made with 50% recycled plastic that makes you feel cozy and comfortable as you sit down to get the job done.Capsule Desk Loop is made with 50% recycled plastic and comes with fully recycled packaging, a significant step towards a more sustainable use of our resources Capsule Desk Loop delivers exactly the right degree of warmth while consuming 5.5 times less energy.* The new mindful fan heater directly warms your hands and chest, without wasting energy and creating the ideal comfort zone independently from the temperature and dimension of the room you’re in.
De’Longhi, world leader in the production of coffee machines, announces two new strategic partnerships with World Coffee Research (WCR) and Slow Food Coffee Coalition (SFCC).
Taking advantage of the experience of these organizations, De’Longhi aims to make its contribution to the coffee sector as a whole with initiatives to protect the quality of the offer and to safeguard the environment where coffee is grown, so as to improve living conditions of farmers and the business practices they use. These partnerships represent a crucial stage in the brand’s sustainability path and contribute to the De’Longhi Group’s sustainability strategy.
De’Longhi continues to expand its portfolio for coffee lovers with two models of coffee machines. The super-automatic Magnifica Evo allows you to instantly grind the coffee beans automatically and adjust the desired texture of the milk thanks to its LatteCrema system. In addition, it has an easy-to-use interface with up to 7 recipes that can be selected by simply pressing a button. Its design and efficiency have led it to be chosen Product of the Year 2022.
For its part, the Specialista Arte is a traditional pump coffee maker with an integrated grinder. It offers up to 4 technologies to enjoy a coffee with a unique flavor, 8 grinding settings and 3 brewing temperatures. Likewise, it incorporates 3 preconfigured recipes and is accompanied by a professional barista kit.
For its part, the new Braun glass blender , PowerBlend 9, is distinguished by the power of its motor that reaches 1,600 W along with its high speed that can reach 45,000 rpm. Its jug has a capacity of 2 and incorporates TriAction technology, which guarantees more precision and faster mixing of ingredients.
The brand also continues to bet on ironing centers with CareStyle Compact Pro, Braun’s most powerful, as it saves up to 50% time. It features FreeGlide 3D technology, inspired by snowboards, gliding effortlessly over buttons and zippers without getting stuck, even backwards. It also features DoubleSteam technology, which helps cut ironing time in half.
The brand bets on kneading machines with the launch of Titanium Chef Baker XL KVL65.001WH. The brand’s first customizable robot that allows you to change its top cover, with a wide selection of colors. It has an integrated scale, a LightLift head that makes it easy to add ingredients to the mixture at the touch of a button to achieve the lightest touch and 1,200 W of power
The new De’Longhi espresso machine with integrated grinder has been designed for “wannabe” Baristas. It allows you to manually reproduce all the essential steps for making an espresso, like a Barista, at home: from the preparation of coffee to milk drinks, with 2 exclusive technologies, including the new “My latte Art” technology thanks to a semi-professional steam nozzle for dense and creamy milk froth Welcome White Brown market itemsDe’Longhi: La Specialista Arte, the new Home Barista! [ brands ] De’Longhi: La Specialista Arte, the new Home Barista! The new De’Longhi espresso machine with integrated grinder has been designed for “wannabe” Baristas. It allows you to manually reproduce all the essential steps for making an espresso, like a Barista, at home: from the preparation of coffee to milk drinks, with 2 exclusive technologies, including the new “My latte Art” technology thanks to a semi-professional steam nozzle for dense and creamy milk froth. Designed for serious espresso lovers, the new espresso machine with integrated grinder will delight all coffee lovers. THE NEW HOME BARISTA: 2 INNOVATIVE TECHNOLOGIES TO SIMPLIFY PREPARATION.
My Latte Art , to succeed with all your milk froths and obtain creamy milky drinks ACTIVE TEMPERATURE CONTROL, 3 levels of extraction temperature, able to adapt to the variety of beans and their level of roasting 2 PRE-REGISTERED DRINKS , espresso, americano, hot water, to further customize your drinks 8 GRINDING FINES, specially developed to adapt to all varieties of coffee beans A COMPLETE BARISTA KIT, a tamping mat, a tamper and a funnel, to achieve a perfect tamping, like a barista
THE COFFEE LOUNGE
The dedicated virtual platform launched by De’Longhi for all enthusiasts, the curious or coffee addicts. They will find different sections there: recipes, quiz, directory of partner roasters, presentation of products, etc.
The Board of Directors of De’ Longhi SpA approved today the consolidated results of the first quarter of 2022: We are very satisfied with the results of this first quarter, even more significant in light of the difficult comparison with last year. Our group is responding with determination to the numerous challenges posed by a complex and evolving macroeconomic and geopolitical scenario, however, we remain convinced that the strategy of focusing on the core categories, of geographical development and of constant investment in products and our brands, remains the winning strategy for the creation of value in the long term” commented CEO, Massimo Garavaglia.
revenues up 8.4% to € 735.5 million (+ 5.5% on a like-for-like basis1); an adjusted2 Ebitda of € 100.1 million, equal to 13.6% of revenues, comparing with 18.9% of Q1-2021 (but improving vs. the 10.7% of 2020); an Ebit of € 69.1 million, equal to 9.4% of revenues compared to 14.9% of the previous year 3; a net profit of € 50.6 million, equal to 6.9% of revenues; a positive net financial position of € 274.6 million, resulting from the contribution of the 12 months free cash flow (before dividends and acquisitions) of € 170.7 million.
The consolidated results for 2021 have been approved by the Board of Directors of De ‘Longhi SpA.
The BoD also proposed the distribution of a dividend of € 0.83 per share, equal to a pay-out ratio of 40% in line with the Group’s dividend policy. In addition, today’s Board of Directors has also approved a total donation of € 1 million for non-governmental organizations, in support of the populations affected by the conflict in Ukraine
An extraordinary bonus was given to all the De’Longhi’s employees and collaborators for the positive results achieved during 2021. The Group’s Board of Directors approved the allocation of a bonus for a total amount of about 11 million euro, which will be paid within the first quarter of 2022.
«The excellent results obtained over the last few quarters – commented Massimo Garavaglia, Chief Executive Officer – are the result of the persistent commitment and extraordinary dedication of the employees in overcoming the challenges in a year of many complexities. The distribution of this bonus is meant to be a recognition of the support and strong spirit of belonging shown by our people towards the Group».
For the current year, as previously communicated, the De’Longhi Group expects to record revenues growing, at constant exchange rates, at a rate that is in the upper end of the 28% – 33% range and an adjusted Ebitda improving vs. last year both in value and as a percentage of revenues. Furthermore, the consolidation of Eversys will bring about a further 2 percentage points of revenues’ growth and an adjusted Ebitda, as a percentage of revenues, in line with the rest of the Group.