De'Longhi — Investor Presentation 2025

Nov 12, 2025

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9M & Q3 2025 Presentation

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This presentation might contain certain forward-looking statements that reflect the company's current views with respect to future events and financial and operational performance of the company and its subsidiaries. Forward looking statements are based on De' Longhi's current expectations and projections about future events. The forward looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those contained in the forward looking statements. Potential risks and uncertainties include such factors as general economic conditions, foreign exchange fluctuations, competitive product and pricing pressures and regulatory developments, many of which are beyond the ability of De' Longhi to control or estimate. Consequently, De' Longhi S.p.A. cannot be held liable for potential material variance in any looking forward in this document. Any forward-looking statement contained in this presentation speaks only as of the date of the document. Any reference to past performance or trends or activities of De' Longhi S.p.A. shall not be taken as a representation or indication that such performance, trends or activities will continue in the future. De' Longhi S.p.A. disclaims any obligation to provide any additional or updated information, whether as a result of a new information, future events or results or otherwise.

This presentation does not constitute a public offer under any applicable legislation or an offer to sell or solicitation of an offer to purchase or subscribe for securities or financial instruments or any advice or recommendation with respect to such securities or other financial instruments.

The officer responsible for preparing the company's financial reports declares, pursuant to paragraph 2 of Article 154 bis of Legislative Decree no. 58 of February 24 1988, that the accounting information contained in this presentation corresponds to the results documented in the books, accounting and other records of the company. Finally, it should be noted that the financial data as of September 30th 2025 are not audited.

These are published financial data which, given the extension of the analysis period, may not be entirely comparable as a result of changes in the scope of consolidation or in the applicable accounting principles.

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In this presentation:

• "Adjusted" stands for before non recurring items and cost of the share-based incentive plans
• "Constant exchange rates" means excluding the effects of exchange rates' variations and of hedging derivatives;
• "pro-forma" means including the consolidation of La Marzocco for 9 months in 9M 2024;
• "ForEx" or "FX" stand for Foreign Exchange Rates;
• "M" stands for million and "bn" stands for billion;
• "Q3" stands for third quarter (July 1 st – September 30th);
• "9M" stands for nine months (January 1 st – September 30th);
• "NWC" stands for Net Working Capital;
• "Capex" stands for capital expenditures, i.e. investments in fixed assets;
• "FCF" stands for free cash flow before dividends and M&A;
• "Professional division" means the business combination between La Marzocco & Eversys;
• "Household division" includes the business not part of the professional division.

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9M 2025 HIGHLIGHTS

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YoY % growth reported – Household division

Household division positive growth momentum continuous, backed by new product lunches and renewed commitment in media & communication investments

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ca.

Tariff impact has been limited in the first 9 months of FY 25 thanks to the mitigation plan in place:

• Inventory build-up in early 2025
• Unlocking higher flexibility through supply chain reorganization
• Implementation of price increases starting from H2 2025

Expected net impact on Ebitda Adjusted in FY 25 of €M ca.15 already incorporated in FY guidance

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OUR COMMITMENT TO SPREAD COFFEE CULTURE

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9M & Q3 2025 RESULTS

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Solid performance sustained by the positive momentum for household & acceleration of professional coffee

Profitability rose by 70bps vs 9M24 thanks to both household & professional division growth

Improving net financial position notwithstanding ca. €M 252 of dividends distribution & buyback over last 9m

Solid free cash flow generation in the 12m notwithstanding higher level of inventory expected to normalize in Q4

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REVENUES BY DIVISIONS (9M 2025)

	TOTAL GROUP	HOUSEHOLD	PROFESSIONAL
REVENUES	€M 2,461	€M 2,121	€M 343
% ON TOTAL	100%	86%	14%
YOY (%)	+10.4%	+6.0%	+48.7%+29.2% pro-forma
		MARKET

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REVENUES BY PRODUCT LINES (9M 2025)

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TOTAL GROUP

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9M & Q3 2025 Results

(Eur million)	9M 25	var.%	Q3 25	var.%
Revenues	2,461.4	10.4%	877.2	8.9%
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net ind. margin	1,298.9	13.7%	461.6	11.0%
% of revenues	52.8%		52.6%
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adjusted Ebitda	389.5	16.0%	148.8	13.4%
% of revenues	15.8%		17.0%
Ebit	273.2	13.5%	105.3	8.5%
% of revenues	11.1%		12.0%
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Net Income*	187.6	8.0%	71.0	5.0%
% of revenues * pertaining to the Group	7.6%		8.1%
pertaining to the Group

In the quarter:

• the net industrial margin stood at €M 461.6, equal to 52.6% of revenues compared to 51.6% in 2024;
• adjusted Ebitda amounted to €M 148.8, or 17.0% of revenues, improving by 70 bps vs 2024, thanks to the stronger contribution of the professional division.

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EUR million	Sep-25	Sep-24	Chg. 12months	Dec-24	Chg. 9months
Net working Capital	182.6	103.2	79.4	(96.9)	279.5
NWC / Revenues	4.9%	3.1%	1.8%	-2.8%	7.7%
operating NWC	356.4	252.9	103.5	84.9	271.6
Net Cash Position	308.7	266.1	42.6	643.2	(334.6)

• In September 2025, the Group's Net Cash Position stood at € 308.7 million, an improvement compared to € 266.1 million in September 2024;
• In the first 9m, cash flow before dividends, buybacks and acquisitions was negative for €82.2 million, mainly due to the effect of the cash absorption related to the increase in inventory (absorbing € 288.1 million in cash), which peaks in Q3 following the ordinary seasonality of the business;
• With regards to cash generation, the cash flow before dividends, buybacks and acquisitions was € 298.3 million in the 12 months.

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• Household business growth, capitalizing on positive market developments and driving categories expansion through product innovation and A&P investments

• Professional coffee expansion, continuous structural market growth, targeted luxury home partnership, together with two months of perimeter expansion

• Volume expansion coupled with a better mix

• Perimeter expansion with two additional months of La Marzocco consolidation

• Continuous investments in A&P supportive of growth, optimising the incidence on revenues

• Negative impact of tariffs on the US market

• Controlled Opex increase to strengthen organizational structure

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Contacts:

Investor Relations:

Samuele Chiodetto, Sara Mazzocato T: +39 0422 4131 e-mail: investor.relations@delonghigroup.com

Media relations:

T: +39 0422 4131 e-mail: media.relations@delonghigroup.com

On the web:

www.delonghigroup.com