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Earnings Calls

Last Earnings Call

Fiscal Period
Q1 2026
Call Date
May 12, 2026
AI Summary
Q1 2026

Solid start: De'Longhi said Q1 2026 was a solid start to the year, led by exceptional momentum in Professional and positive organic growth in Household, despite a volatile geopolitical backdrop.

Guidance held: Management reaffirmed full-year 2026 guidance for mid-single-digit revenue growth and adjusted EBITDA of EUR 640 million to EUR 660 million, saying the current situation is still consistent with that outlook.

Professional strength: The Professional division grew 40% to EUR 139 million, with broad-based strength across regions and brands, and management said it was the main driver of margin expansion.

Household improving: Household was slightly down reported but up at constant currency, with January held back by inventory destocking; management said February, March and April showed recovery.

Tariff headwind: The group saw about EUR 4 million of tariff impact in Q1, mainly hitting Household margins, but management said the current guidance already reflects the present tariff level if it persists.

Cash and balance sheet: Free cash flow was negative in the quarter because of seasonal inventory restocking, but trailing 12-month free cash flow reached EUR 464 million and net financial position improved to EUR 721 million.

Key Financials
Revenue growth
mid-single-digit
Adjusted EBITDA
EUR 126 million
Adjusted EBITDA margin
16.2%
Professional division sales
EUR 139 million
Household division turnover
EUR 641 million
Europe revenue growth
1.4%
EMEA revenue growth
4.2%
Americas revenue growth
18.2%
Asia Pacific revenue growth
8.7%
Net financial position
EUR 721 million
Free cash flow before dividends, share buyback and acquisitions
negative EUR 44 million
Trailing 12-month free cash flow before dividends, share buybacks and acquisitions
EUR 464 million
U.S. tariff impact in Q1
approximately EUR 4 million
Gulf countries share of group sales
3%
Air conditioning share of business
3%
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