AI Terminal
De'Longhi
Earnings Release • Jan 27, 2022
4398_rns_2022-01-27_2ba3886b-97e8-40e2-948f-8ff6cdccc8af.pdf
Earnings Release
Open in ViewerOpens in native device viewer
Finally, it should be noted that the preliminary revenue figures shown in this press release have not been audited. The complete 2021 annual results will be approved by the Board of Directors scheduled for March 10, 2022.
1 The consolidated results for the twelve months of 2021 refer to the new scope of consolidation which also includes Capital Brands Holdings Inc. and its subsidiaries and, starting from 1 April, the Swiss group Eversys.
2 By "constant perimeter" we mean the consolidation area which excludes Capital Brands and Eversys.
2021 saw a constant expansion of the business in all quarters of the year, with an annual double digit growth in revenues at constant perimeter in all the reference macro regions. All the major product families showed an increase in turnover in the twelve months, significantly exceeding the challenging comparison with the previous year.
| milion E UR |
2021 | var. % | var. % at constant exch.rates |
4th quarter 2021 |
var. % | var. % at constant exch.rates |
|---|---|---|---|---|---|---|
| AT CONS T ANT P E R IME T E R | ||||||
| S outh-West E urope | 1,208.2 | 26.8% | 26.8% | 391.6 | 12.5% | 12.5% |
| North-E ast E urope | 822.6 | 21.8% | 23.6% | 301.1 | 11.5% | 10.2% |
| E UR OP E | 2,030.8 | 24.7% | 25.5% | 692.7 | 12.1% | 11.5% |
| ME IA (MiddleE as t/India/Africa) | 174.0 | 42.1% | 45.6% | 33.4 | -24.5% | -30.0% |
| America | 345.0 | 29.3% | 32.7% | 108.2 | 21.8% | 17.3% |
| AP A (As ia/P acific/Americas ) | 367.7 | 10.3% | 9.2% | 139.4 | 9.9% | 7.2% |
| T OT AL NE T R E VE NUE S AT CONS T ANT P E R IME T E R | 2,917.5 | 24.1% | 25.0% | 973.6 | 10.9% | 9.3% |
| T OT AL NE T R E VE NUE S | 3,216.9 | 36.8% | 38.2% | 1,067.4 | 21.6% | 19.7% |
In terms of revenue evolution at constant perimeter:
- South-Western Europe achieved double-digit performance both in the twelve months and in the fourth quarter, thanks to a significant and collective expansion of the main countries such as Germany, France, Italy and the Iberian markets;
- similar dynamics was highlighted in North-Eastern Europe, with double-digit growth in the year and in the quarter. Specifically, it is noted that almost all the countries in the region achieved double-digit growth in the twelve months, maintaining a significant pace of expansion even in the final quarter of the year;
- the MEIA region recorded a growth trend in the twelve months equal to 42.1%, above the Group average, thanks to the positive contribution of all the countries in the area, but down in the fourth quarter;
- the America region recorded an important expansion in the year, achieving double-digit growth supported by a significant acceleration in the coffee segment, also confirmed by the growth in the fourth quarter;
- finally, the Asia Pacific region achieved a growth of 10.3% in 2021, thanks to the double digit rate expansion in the main markets such as China and Hong Kong, Australia and New Zealand. In particular, in the fourth quarter, the double-digit growth pace of China and Hong Kong accelerated, thus supporting the growth of the entire region (+ 9.9% in the quarter).
Analyzing the product segments in detail, we highlight the double-digit growth in both the twelve months and the fourth quarter of the coffee machines segment, supported by robust expansion throughout the year from full-automatic and manual machines. The partnership with Nespresso in both periods analyzed also increased substantially, completing the positive scenario for the entire segment.
The cooking and food preparation segment closed 2021 with double-digit growth, driven by an expansion of the main product categories such as kitchen machines and hand blenders, both growing at a double-digit rate in the twelve months and in the last quarter of the year.
With regard to the remaining segments, we report the growth in the year of the comfort segment (domestic air conditioning) and the substantial stability of the home care segment (domestic cleaning and ironing).
Finally, Capital Brands and Eversys contributed to the growth of the Group by delivering revenues of € 299.4 million in the year and € 93.7 million in the fourth quarter, with a trend in line with management's expectations.
The manager responsible for the preparation of the company's accounts, Stefano Biella, hereby declares, as per article 154 bis, paragraph 2, of the "Testo Unico della Finanza", that all information related to the company's accounts contained in this press release are fairly representing the accounts and the books of the company.
Investor Relations: Fabrizio Micheli, Samuele Chiodetto T: +39 0422 4131 e-mail: [email protected]
Media relations: Mattia Rosati T: +39 0422 4131 e-mail: [email protected]
www.delonghigroup.com
