Slides
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H1 & Q2 2026 Results presentationJuly 30th2026
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H1 & Q2 2026 ResultsDisclaimerThis 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 audit on Consolidated Half Year Financial Statements is still in progressThese 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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H1 & Q2 2026 ResultsDefinitions & assumptionsIn 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;•“ForEx”or “FX” stand for Foreign Exchange Rates;•“M” stands for million and “bn” stands for billion;•“Q2” stands for second quarter (April 1st – June 30th);•“H1” stands for first half year (January 1st – June 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, Buyback 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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revenues growth YoY+8.0%at constant fxSolid performance, driven by positiveorganic growth in the Householddivision and outstandingexpansion in Professional Intensifying strategic investments to Drive the group towarD the technological frontier several activations to spreaD coffee culture aDj ebitDa %16.9%+170 bps marginexpansion, driven by the strong growth of the Professional division and duty refundsnet financial position€m 687Further balance sheet strengthening provides maximum strategic flexibility for capital allocation12 months free cash flowbefore DiviDenDs, buyback & m&a€m 508Solid FCF generation supporting a disciplined capital allocation strategy with over €300M in dividends and €80M buyback in two years supporting investments in meDia & communicationDriving consumer engagement by integrating paiD, earneD anD owneD meDIafinancial highlights h1 2026 business highlights
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H1 & Q2 2026 Results total grouprevenuesYoY %YoY% at constant fx€m 1,676 householD professional€m 1,380 €m 303+1.2%+3.1%+5.8%+8.0%+36.3% +40.0%revenues by Divisions (h1 2026) aDj ebitDa% mrg€m 284 €m 187 €m 9713.5%16.9% 32.0%
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H1 & Q2 2026 Results revenues by proDuct lines (h1 2026) Home Coffee52%Nutrition 19%OtherProfessional Coffee 11% 18%householD professionalIncluding accessories Up low-single digitDown low-single digitUp low-teensUp double-digitUp mid-single digitDown low-single digitUp double-digitUp double-digitH1-26 at constant FXQ2-26 at constant FX
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H1 & Q2 2026 Results revenues by market (h1 2026) Europe America APAC MEIA60% 19% 15% 5% total group Up mid-single digitUp high-teensUp high-single digitDown low-single digitUp high-single digitUp double-digitUp mid-single digitLow low-teensH1-26 at constant FXQ2-26 at constant FX
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H1 & Q2 2026 Results p&l In the quarter:Adjusted EBITDAamounted to €158 million, or 17.6% of revenues, representing a 260 basispoint improvement compared to the prior year. This margin expansion was mainly supportedby strong growth in the Professional division — which carries margins above the Groupaverage — and a net positive impact of approximately €15 million from duty refunds. (E ur million)H1 2026chg. chg.%Q2 2026chg. chg.%Revenues1,676.3 92.15.8%898.7 69.78.4%net ind. margin892.0 54.76.5%476.7 34.27.7%% of revenues 53.2% 53.0% adjus ted Ebitda283.7 43.017.8%157.7 33.326.8%% of revenues 16.9% 17.6%Ebit217.6 49.729.6%126.2 38.543.9%% of revenues 13.0% 14.0%Net Income169.0 39.630.6%97.0 30.545.8%% of revenues 10.1% 10.8%Net Income pertaining to the Group141.4 24.821.2%79.7 20.534.5%% of revenues 8.4% 8.9%
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H1 & Q2 2026 Results briDge to aDjusteD ebitDa (h1 2026) (*) Including contributionProfessional divisionAmong others:Lower product costsHigher A&P investmentsNet duties refunds ca. €15M
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H1 & Q2 2026 Results balance sheetIn March 2026, the Group'sNet Cash Positionstood at € 687 million, representing asignificant improvement compared to €346 million of last year;Free Cash Flow (before dividends, buybacks, and acquisitions)was positive at €78 millionin the first half. This result was achieved thanks to the excellent contribution fromoperating activities, which offset the usual seasonality of net working capital related toinventory rebuilding following fourth-quarter salesCapexamounted to €45.4 million, an increase of €2.6 million compared to 2025 E UR million30 J une 2026 30 J une 2025Net working Capital(14.3) 58.0NWC / Revenues-0.4% 1.6%Net Cas h Pos ition(686.6) (345.8)Dividends and buyback(156.4) (251.7)Cas h F low for the period(83.4) (297.5)F ree Cas h F low (before DVD, buyback and acquis itions )78.3 (45.8)
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H1 & Q2 2026 Resultsnet cash flow (h1 2026)
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fy 2026 guIDance upgraDe revenues growth => miD-single Digit (confirmed)ebItDa aDjusteD => between 670 anD 690 €m(upgraded)Professional division delivered remarkable momentumHousehold division tracking in line with expectations, following early-year channel destockingStrategic A&P investments reconfirmed to drive growth and brand equityDuty refunds of ~€15M includedCost pressures incorporated to reflect current geopolitical and macroeconomic uncertainties
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fy 2026 guiDance revenues growth miD-single Digit supporteD by:Household business growth, capitalizing on positive coffee marketdevelopments and expanding categories through product innovation and strategic A&P investmentsProfessional coffee expansion, sustained by structural tailwinds, including rising global consumption, specialty shop proliferation, and a shift toward premiumization ebItDa aDjusteD between 670 anD 690 €mgenerateD by:Volume expansion coupled with a better mixContinued investment in A&P to support growth, while optimizing cost incidence on revenuesControlled Opex increases to strengthen the organizational structure
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Contacts:Investor Relations:Samuele Chiodetto, Sara MazzocatoT: +39 0422 4131e-mail: investor.relations@delonghigroup.comMedia relations:T: +39 0422 4131e-mail: media.relations@delonghigroup.comOn the web:www.delonghigroup.com