De'Longhi (DLG) investor relations material

Executive summary

• Delivered strong H1 2026 results with 8% organic revenue growth at constant FX, driven by robust Professional division expansion and Household's return to mid-single digit growth, despite macroeconomic and geopolitical headwinds.

• Celebrated 25th anniversary as a public company, with revenues scaling from under EUR 1 billion to nearly EUR 4 billion expected in 2026 and net profits up tenfold over 25 years.

• Adjusted EBITDA margin expanded to 16.9% in H1 2026, supported by Professional division growth and duty refunds.

• Net financial position strengthened to EUR 687 million, providing strategic flexibility for capital allocation.

• The group demonstrated resilience through cost control and investment in innovation.

Financial highlights

• H1 2026 revenues reached EUR 1,676 million, up 5.8% year-over-year; Q2 revenues were EUR 899 million, up 8.4%.

• Adjusted EBITDA for H1 2026 was EUR 284 million (16.9% margin), with Q2 at EUR 158 million (17.6% margin), up 260 bps year-over-year.

• Net income for H1 2026 was EUR 169 million (10.1% margin), up 30.6% year-over-year.

• Free cash flow before dividends, buybacks, and acquisitions was EUR 78.3 million in H1; trailing 12-month free cash flow at EUR 508 million.

• Net financial position improved to EUR 687 million from EUR 346 million YoY.

Outlook and guidance

• Full-year revenue growth guidance confirmed at mid-single digit; adjusted EBITDA guidance raised to EUR 670–690 million, reflecting EUR 15 million duty refunds and strong Professional division growth.

• Household division expected to grow low to mid-single digits for the full year; Professional division to maintain double-digit growth, normalizing to high single digits in H2.

• Margin expansion expected to stabilize, with Professional division normalized EBITDA margin seen at ~30% mid-term.

• Cost pressures and geopolitical uncertainties incorporated into guidance.