De’ Longhi, record growth in the first 9 months

Net revenues of € 2,149.5 million, up 45.9%

De’ Longhi, a group active in the small household appliance sector dedicated to the world of coffee, cooking, air conditioning and home care, recorded net revenues of 2,149.5 million euros in the first nine months of 2021, up 45.9% (49.2% at constant exchange rates) compared to the same period of 2020. Adjusted Ebitda amounted to € 357 million (314.9 million on a like-for-like basis), up 124.9% and equal to to 16.6% of revenues. Net profit was 243.5 million euros, up 134.2% and equal to 11.3% of revenues.

The CEO of the Massimo Garavaglia Group commented: “The third quarter showed a robust growth trend at a high single digit rate, despite the very challenging comparison with the same quarter last year which had recorded a marked growth of + 26% on 2019. The exceptional results obtained in this macroeconomic scenario were accompanied by the expected acceleration of investments in communication and marketing. For this reason 2021 we believe we can continue to look positively at the evolution of the business, in the face of the growing global difficulties in the distribution and production sectors, and therefore we confirm the objectives and guidance for 2021 previously communicated”.

Investments amounted to 92.5 million euros, an increase of approximately 33.8 million compared to last year. The positive net financial position at 30 September 2021 amounted to 216.1 million euros (451.5 million euros at 30 September 2020). The group recalls that over the last 12 months it has finalized two acquisitions, that of the American Capital Brands in December 2020 and that of the Swiss group Eversys in May 2021, for a total financial commitment of € 463.4 million. For 2021, the Group expects revenue growth at constant exchange rates, at a rate that is in the upper part of the 28% – 33% range and an adjusted EBITDA improvement compared to last year, both in value and percentage. of revenues.

Haier buy Fisher&Paykel Appliances Italy

Over the years Haier has been a fast-growing company in Europe thanks to organic growth and M&A, setting ambitious goals for growth and leadership.  
Today another important milestone along the transformation journey is achieved as Haier Europe announces the acquisition of Fisher & Paykel Appliances Italy under the framework of an intra-company acquisition within the Haier Smart Home Group. This operation will extend the company’s products and brands portfolio and boosts the leadership in the Cooking and Built-in category.
Fisher&Paykel Appliances Italy is a historic company based in Borso del Grappa that has been producing cooking appliances for over 70 years. The Company owns the #Elba brand and markets #DeLonghi’s household appliances under license. Thanks to this acquisition, both De’Longhi and Elba will become part of the #HaierEurope brand portfolio.

They welcome 400 new colleagues that will join them and look forward to further growth together!

Brad Pitt stars in De’Longhi’s first international campaign

Brad Pitt stars in De’Longhi’s first international campaign

De’Longhi launches its first international campaign directed by Damien Chazelle and starring Brad Pitt.

“De’Longhi has had extraordinary growth in recent years and the production of coffee machines for home use has played a key role in this growth,” commented CEO Massimo Garavaglia. “We believe that Brad Pitt is the Perfetto ambassador to speak to the world about De’Longhi, reflecting some traits of the De’Longhi spirit: bold and international, yet sophisticated and elegant at the same time.”

Thanks to this campaign, the viewer can enter a “day in the life of Brad Pitt.” From buying your coffee bean mix in the morning to riding around Los Angeles on your motorcycle and stopping at a gas station, these scenes depict a moment we all look forward to: getting home and finally relaxing with a delicious espresso or cappuccino, a moment A perfetto that comes true thanks to the De’Longhi super-automatic coffee machine, as it grinds coffee beans instantly and thanks to its technology transforms it without losing its authenticity into the perfect expression of Italian espresso.

Choosing Brad Pitt for this international campaign involves more than working with a recognized global icon – Pitt is an acclaimed actor and producer, a committed environmental advocate, an art collector, passionate about architecture and design. Above all, it maintains its essence, despite its worldwide fame. A spirit of humility that reflects the De’Longhi brand itself, a company linked to its roots with a typically Italian passion for harmony and elegance that goes beyond simple stereotypes and is accessible to everyone.

De’Longhi, positive Q1

During the first quarter 2021, De’ Longhi net revenues reached 678.7 million euro, up by 72.6%. Adjusted Ebitda, instead, recorded 128.6 million euro, up 205.3% and equal to 18.9% of revenues, with an improvement of 8.2% compared to the previous year. Ebit was of € 108.2 million euro, up by 516.3% and equal to 15.9% of revenues and net profit of 80.9 million euro, up 636.2%, equal to 11.9% of revenues. Morevoer the Group recorded a positive net financial position of 318.2 million euro, improving by 86.2 million euro in the quarter.

The extraordinary results achieved – commented De’Longhi CEO Massimo Garavaglia – further consolidate De’Longhi’s position among the leaders of the industry. The Group has been able to seize all the opportunities offered by the market in these months of great uncertainty, thanks not only to its brands and products portfolio but also to the great production flexibility and the adaptability of teams and organization. I take this opportunity to thank all the employees of the Group for the dedication, commitment and professionalism shown in recent months, without which we would not have been able to achieve these goals.

Looking at the next future – added garavaglia – the continuation of the development trend of coffee and kitchen, strengthened by the increased attention of consumers towards the home environment, support our positive expectations for the coming quarters. In particular, the signals that we receive from the markets in these first weeks of the second quarter reasonably suggest, for the remaining months of the year, a very robust and more sustained sales trend than initially expected; in light of this, therefore, we revise upwards our guidance for the current year and for the new perimeter including Capital Brands, now forecasting revenues growing at constant exchange rates at a pace between 28% and 33% (i.e. in the range 18 % – 22% on a like-for-like basis) and an adjusted Ebitda in line with 2020 as a percentage of revenues. This expected dynamic will allow us to continue the previously announced strategy of increasing investments in marketing and communication, in support of our brands and products, thus fueling a virtuous circle aimed at medium-long term growth strategy.

DeLonghi ha acquire Capital Brands Nutribullet and Magic Bullet brands.

DeLonghi has reached a definitive agreement with affiliates of Centre Lane Partners to acquire Capital Brands Holdings, Inc., a leader in the personal blenders segment with the Nutribullet and Magic Bullet brands.

The price payable by DeLonghi for Capital Brands is approximately $420 million. The closing of the transaction is expected to take place before the end of 2020.

With its research and development centers in Boston and in Connecticut, Capital Brands brings innovative technologies to the development of products that cater to an evolved concept of nutrition, the company said. Centre Lane Partners acquired Capital Brands in 2018. Nutribullet and Magic Bullet are highly recognizable brands that have earned a strong reputation among consumers. Capital Brands’ strengths and expertise will contribute to accelerate DeLonghi Group’s growth in the world of healthy foods, the company added.

Massimo Garavaglia, CEO of DeLonghi, said, “This acquisition is a perfect fit for the DeLonghi Group and is consistent with our objectives of geographical expansion and growth by external lines. Moreover, it represents a strategic value from several viewpoints: we add a young and dynamic brand to our portfolio; we enlarge our range of iconic products with an important presence in the blender segment; we increase our penetration in an expanding and strategically important market like the USA; and last, but not least, we strengthen the DeLonghi Group’s leadership in the sector of food preparation.”

DeLonghi Group owns such brands as DeLonghi, Braun, Kenwood and Ariete.

Founded in 2003 and headquartered in Los Angeles, Capital Brands develops and sells domestic appliances with a focus on wellness nutrition to households in over 100 markets worldwide under the Nutribullet and Magic Bullet brands. Capital Brands forecasts net revenues of approximately $290 million for year 2020, ahead of last year sales. With this transaction, the U.S. become the largest market for the DeLonghi Group, with aggregate turnover in excess of $500 million.

Rich Krause, CEO of Capital Brands, said, “We are very pleased to be joining the DeLonghi Group and to have the opportunity to align our strong brands with theirs. We are excited about the future growth opportunities that we will be able to exploit in the U.S. and internationally with the support of our new shareholder.”

De’Longhi new chief executive

Massimo Garavaglia has assumed the role of Chief Executive Officer (CEO) and General Manager of De’Longhi SpA on May 1, 2020. He succeeds Fabio de ‘Longhi, who remains in the company as Vice Chairman.

Fabio de ‘Longhi served as CEO for 15 years and will continue to play a significant role in the company. He will assist his successor in the transition phase and in the future will focus on employees and the corporate culture, innovations and M&A.

With Massimo Garavaglia, the De’Longhi Group will consistently continue the growth path it has embarked on in recent years and, at the same time, strengthen its management with an extremely experienced manager who will confidently meet the challenges and opportunities of a constantly changing market.

De Longhi launches new products

De’Longhi has just launched innovations in all its brands ( De’Longhi , Braun and Kenwood ), aimed at making life easier for consumers and with the common denominator of innovation.

De’Longhi has presented the Lattissima One coffee machine in black. This Nespresso capsule coffee machine features an integrated milk tank that automatically recognizes the amount of milk needed in the jar to prepare cappuccinos or other combinations at the touch of a button. It has also renewed its range of dehumidifiers, with three models with ecological gas R290. Apart from removing excess moisture, they have a clothes drying function and improve air quality. This gas is also present in the two new portable air conditioning models: the PAC N90 Eco Silent and the PAC AN98 ECO Real Feel.

Kenwood, meanwhile, launches two new accessories compatible with the kitchen robots of the Chef and kMix range: the Pure Juice KAX720PL and the Spiralizer KAX700PL. With the first, you can prepare juices easily with all the nutrients and vitamins of fruits and vegetables. The Spiralizer KAX700PL converts fruit and vegetables into spaghetti of different thicknesses.

Finally, Braun launches two new black and white blenders, the SJ3100. In the category of ironing centers, it relaunches the CareStyle 5 in black and white (IS 5145) with important improvements like the FreeGlide 3D sole, which allows ironing on any fabric and obstacle even backwards.