DeLonghi Half-Year Report 2023

The revenues recorded in the second quarter, which reached €688.8 million, were, in fact, only slightly lower than in the 2022 comparison period (-2.9%), and largely stable at constant exchange rates (-0.9%). This recovery with respect to the beginning of the year, made it possible to record revenues of €1,291.2 million in the half, 10.6% lower than in the comparison period.

Revenues amounted to €688.8 million in the second quarter of 2023, largely stable, at constant exchange rates, with respect to the same period of 2022 (-0.9%). Despite the weakness of the first quarter, this recovery made it possible to record revenues of €1,291.2 million, 10.6% less than in the comparison period. Revenues were impacted by highly volatile demand and the cautious approach of retailers who, as of the beginning of the year, took steps to reduce inventory.

In the second quarter of 2023 the net industrial margin came to €335.8 million, or 48.8% of revenues, higher than in the same period of 2022 (€320.6 million, 45.2% of revenues). The net industrial margin amounted to €640.2 million or 49.6% of revenues (€696.2 million or 48.2% of revenues in the first half of 2022).

EBITDA before non-recurring income (expenses)/stock option costs also improved in the half, coming in at €160.1 million (12.4% of revenues) versus €149.1 million or 10.3% of revenues in the first half of 2022.