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De’Longhi Group reports financial growth for first three quarters of 2021

De'Longhi financial report 2021

In the first nine months of 2021, the De’Longhi Group has achieved strong financial growth, with revenue of €2.15 million (about US$2.43 million), up 46 per cent since last year.

Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) reached €357 million (about US$404.2 million), an improvement of 2.4 per cent over 2020.

In the third quarter, De’Longhi achieved revenues of €717.7 million (about US$813.6 million), up 24.5 per cent since 2020, with an adjusted EBITDA of €105.6 million (about US$119.6 million), an improvement of 14.7 per cent from last year.

“The third quarter showed a robust growth trend at a high single digit rate, despite the challenging comparison with the same quarter of last year, which recorded a tremendous growth of 26 per cent versus 2019,” says De’Longhi Group chief executive officer Massimo Garavaglia.

De’Longhi achieved growth growth in revenues across all of its main geographies have for both the nine-month period and the third quarter.

Garavaglia says the last few months have been characterised by a macroeconomic scenario of increasing complexity on a global level, especially for related to production and supply chain issues. In this context, the De’Longhi Group has been able to give continuity to growth in almost all segments, without compromising on its strategy in terms of prices and industrial and product investments as well as in communication
and marketing.

“The exceptional results obtained in this macroeconomic environment were accompanied by the planned acceleration of investments in communication and marketing, which found maximum expression in the launch of the Group’s first global campaign starring Brad Pitt, the Group’s new Ambassador and perfect icon to represent the path we are making towards the affirmation of our brands in the “Life style” space,” Garavaglia says.

“For this 2021 we believe we can continue to look positively at the evolution of the business, in face of the growing global difficulties in the distribution and production areas, and therefore we confirm the targets and guidance for this 2021 previously communicated.”

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