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De'Longhi (DLG) investor relations material
De'Longhi Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record Q3 2025 revenues of €877.2 million, up 8.9% year-over-year (11.5% at constant currency), and nine-month revenues of €2,461.4 million, up 10.4% (11.7% at constant currency), driven by strong household and accelerating professional coffee segments.
Adjusted EBITDA margin reached 17.0% in Q3 and 15.8% for the nine months, with net income up 5.0% in Q3 and 8.0% for the nine months.
Professional Division posted over 40% organic growth in Q3, led by La Marzocco and Eversys, benefiting from premiumization trends in out-of-home coffee.
Household Division grew 7.6% at constant FX, with coffee category leading and successful marketing campaigns; nutrition and food preparation declined mid to high single digits due to U.S. tariffs and tough comps.
Net financial position strengthened to €309 million as of September 2025, despite €252 million in dividends and buybacks.
Financial highlights
Q3 adjusted EBITDA: €148.8 million (17.0% margin), up 13.4% year-over-year; nine-month adjusted EBITDA: €389.5 million (15.8% margin), up 16.0%.
Q3 EBIT: €105.3 million (12.0% margin); Q3 net income: €71.0 million (8.1% margin); nine-month net income: €187.6 million (7.6% margin), up 8.0%.
Free cash flow before dividends, buybacks, and acquisitions: €298 million positive over 12 months, but negative €82.2 million for nine months due to inventory build-up.
Net industrial margin for 9M 2025 was 52.8% of revenues; Q3 margin at 52.6%.
Outlook and guidance
Full-year 2025 revenue growth guidance raised to 7.5%-8.5%, with adjusted EBITDA expected between €610 and €620 million, factoring in tariff effects, higher marketing investments, and La Marzocco consolidation.
Expect continued positive contributions from both divisions in Q4, despite tough comparisons and tariff headwinds.
Ongoing investments in advertising and promotion, with controlled Opex increases.
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