De'Longhi

Earnings Release • Sep 17, 2020

PRESS RELEASE

De' Longhi S.p.A.

A third quarter expected with a strong double-digit growth.

The De' Longhi Group, based on the evidence of July and August, estimates a strong growth in sales in the high-teens in the third quarter.

In terms of underlying trends, the performance of the period is in continuity with the first half of the year, both at the level of markets and product segments, but with a marked acceleration, higher than what was estimated at the time of closing of the first semester.

Although the macroeconomic scenario remains complex and risks and uncertainties persist on the markets, the current development of sales, reinforced by the actions taken to support the business, allows management to raise the guidance on sales for the year, now estimated to be growing at an organic mid-to-high single digit rate (from the previous mid-single digit), confirming at the same time the guidance of growth in absolute value for the adjusted Ebitda.

The Group, in continuity with its current strategy, confirms its commitment to invest in the development of new products, marketing and communication, with the aim of consolidating the Group's leadership in the key segments and distribution channels in the medium term.

In this difficult external context, the health and well-being of our employees remain a priority in all offices and plants, in Italy and abroad, by keeping the tight prevention measures implemented since the beginning of the year and the adoption, wherever possible, of smart working.

With this press release, as well as with previous communications, the Group aligns itself with the recent recommendations of the government and control authorities of the stock market on the need to provide more prompt updates on the performance of the company's activities.

The results of the third quarter will be disclosed on November 10th, as indicated in the financial calendar available on the company's corporate website.

Contacts

for analysts, investors and the press	Investor Relations: Fabrizio Micheli, Samuele Chiodetto T: +39 0422 4131 e-mail: investor.relations@delonghigroup.com
on the web	http://www.delonghigroup.com/en/investor_relations