H1 & Q2 2026 Results
presentation
July 30th2026
H1 & Q2 2026 Results
Disclaimer
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 audit on Consolidated Half Year Financial Statementsis still in progress 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.
H1 & Q2 2026 Results Definitions & assumptions 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;
•“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.
revenues growth
YoY+8.0%
at constant fx Solid performance, driven by positiveorganic growth in the Household division and outstanding expansion 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 margin expansion, driven by the strong growth of the Professional division and
duty refunds
net financial position
€m 687
Further balance sheet
strengthening provides
maximum strategic flexibility for capital allocation12 months free cash flow before DiviDenDs, buyback & m&a
€m 508
Solid FCF generation supporting a disciplined capital allocation strategy with over €300M in dividends and €80M buyback in two years
supporting investments
in meDia & communication
Driving consumer
engagement by
integrating paiD, earneD anD owneD meDIafinancial highlights h1 2026
business highlights
H1 & Q2 2026 Results
total group
revenues
YoY %
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 97 13.5% 16.9% 32.0%
H1 & Q2 2026 Results revenues by proDuct lines (h1 2026)
Home Coffee
52%Nutrition
19%Other Professional Coffee 11%
18%householD
professional
Including accessories
Up low-single
digitDown low-single
digitUp low-teens Up double-digit
Up mid-single
digitDown low-single
digitUp double-digit Up double-digitH1-26
at constantFX
Q2-26
at constantFX
H1 & Q2 2026 Results revenues by market (h1 2026) Europe America APAC MEIA 60% 19% 15% 5%
total group
Up mid-single
digitUp high-teensUp high-single
digitDown low-single
digit
Up high-single
digitUp double-digitUp mid-single
digitLow low-teensH1-26
at constantFX
Q2-26
at constantFX
H1 & Q2 2026 Results p&l In the quarter :
Adjusted EBITDA amounted to €158 million, or 17.6% of revenues, representing a 260 basis point improvement compared to the prior year. This margin expansion was mainly supported by strong growth in the Professional division — which carries margins above the Group average — and a net positive impact of approximately €15 million from duty refunds.(Eur million) H1 2026 chg. chg.% Q2 2026 chg. chg.% Revenues 1,676.3 92.1 5.8% 898.7 69.7 8.4% net ind. margin 892.0 54.7 6.5% 476.7 34.2 7.7% % of revenues 53.2% 53.0% adjusted Ebitda 283.7 43.0 17.8% 157.7 33.3 26.8% % of revenues 16.9% 17.6% Ebit 217.6 49.7 29.6% 126.2 38.5 43.9% % of revenues 13.0% 14.0% Net Income 169.0 39.6 30.6% 97.0 30.5 45.8% % of revenues 10.1% 10.8% Net Income pertaining to the Group 141.4 24.8 21.2% 79.7 20.5 34.5% % of revenues 8.4% 8.9%
H1 & Q2 2026 Results briDge to aDjusteD ebitDa (h1 2026) (*) Including contribution Professional divisionAmong others:
Lower product costs Higher A&P investments Net duties refunds ca. €15M
H1 & Q2 2026 Results
balance sheet
In March 2026, the Group's Net Cash Position stood at € 687 million, representing a significant improvement compared to €346 million of last year;
Free Cash Flow (before dividends, buybacks, and acquisitions) was positive at €78 million in the first half. This result was achieved thanks to the excellent contribution from operating activities, which offset the usual seasonality of net working capital related to inventory rebuilding following fourth-quarter sales Capexamounted to €45.4 million, an increase of €2.6 million compared to 2025EUR million 30 June 2026 30 June 2025 Net working Capital (14.3) 58.0 NWC / Revenues -0.4% 1.6% Net Cash Position (686.6) (345.8) Dividends and buyback (156.4) (251.7) Cash Flow for the period (83.4) (297.5) Free Cash Flow (before DVD, buyback and acquisitions)78.3 (45.8)
H1 & Q2 2026 Results net cash flow (h1 2026)
fy 2026 guIDance
upgraDe
revenues growth => miD-single Digit (confirmed) ebItDa aDjusteD => between 670 anD 690 €m (upgraded) Professional division delivered remarkable momentum Household division tracking in line with expectations, following early-year channel destocking Strategic A&P investments reconfirmed to drive growth and brand equity Duty refunds of ~€15M included Cost pressures incorporated to reflect current geopolitical and macroeconomic uncertainties
fy 2026 guiDance
revenues growth
miD-single Digit
supporteD by:
Household business growth , capitalizing on positive coffee market developments and expanding categories through product innovation and strategic A&P investments Professional coffee expansion, sustained by structural tailwinds, including rising global consumption , specialty shop proliferation, and a shift toward premiumization
ebItDa aDjusteD
between 670 anD 690 €m
generateD by:
Volume expansion coupled with a better mix Continued investment in A&P to support growth, while optimizing cost incidence on
revenues
Controlled Opex increases to strengthen the
organizational structure
Contacts:
InvestorRelations:
Samuele Chiodetto, Sara Mazzocato