De'longhi S.p.a. · MIL:DLG
De'longhi — H1 2013 Earnings Presentation
16 slides from De'longhi's earnings presentation, September 2013
Slide 1: De'Longhi Group: H1 2013 results
De’Longhi Group: H1 2013 results September 2013
Slide 2: Disclaimer
De’Longhi: H1 2013 results Disclaimer For the purpose of providing greater details, in some cases we may refer to management accounts’ figures (instead of reported figures), as expressly indicated in the footnotes of the relevant pages. 2
Slide 3: Table of contents
Table of contents o H1 2013 results o Appendix: pp summaryy of 2011-2013 q quarterlyy results 3
Slide 4: Results overview
The Group H1 2013 results Results overview o A +4.1% revenues performance in H1 2013 (including the consolidation of Braun Household), despite a difficult market environment o Adverse ForEx impact weighted on revenues and on industrial margin o Growth at constant FX would have been +5.9% o By market
Slide 5: Results overview (cont'd)
The Group H1 2013 results Results overview (cont’d) ( ) o EBITDA and EBIT (post non-recurring items) improved both in absolute values and as a % of revenues o positive mix effect and higher volumes more than offset… o …higher fixed and promotional costs also associated to Braun o Eur 7.5 million ill
Slide 6: Revenues and net industrial margin
The Group H1 2013 results Revenues and net industrial margin Net Revenues Eur million 360 0 360.0 350.3 EUR million H1 2013 H1 2012 Change H1 2013 - H1 2012 350.0 340.0 Revenues 670.8 644.4 26.5 4.1% 330.0 326 7 326.7 320.5 Net Ind. Margin 327.9 305.3 22.6 7.4% 317.7 320.0 % of revenues 48.9% 47.4%
Slide 7: EBITDA and EBIT adjusted
The Group H1 2013 results EBITDA and EBIT “adjusted” EUR million H1 2013 H1 2012 Change H1 2013 - H1 2012 EBITDA 83.3 82.2 1.1 1.4% before non recurring items % of revenues 12.4% 12.8% -33bp EBIT 62.1 66.1 -4.0 -6.0% before non recurring items % of revenues 9.3% 10.3% -99bp EBITDA adjusted (i.e. b
Slide 8: EBITDA, EBIT and Net Profit
The Group H1 2013 results EBITDA, EBIT and Net Profit f EUR million H1 2013 H1 2012 Change H1 2013 - H1 2012 Eur million EBITDA 50.0 44.5 EBITDA 82.9 74.2 8.6 11.6% 45.0 41.4 % of revenues 12 4% 12.4% 11 5% 11.5% +83bp 40.0 38.3 EBIT 61.7 58.2 3.5 6.1% 35.0 % of revenues 9.2% 9.0% +17bp 32.9 Net Pro
Slide 9: Revenues breakdown by product
The Group H1 2013 results Revenues breakdown by product(1) H1 2012 revenues breakdown by product H1 2013 revenues breakdown by product other el. heating 3.3% other 2.4% el heating el. mob.b a/c- / 3.1% 3 1% treatm. 2.0% coffee mob. a/c- 12.2% makers treatm. 37.2% 10.5% coffee makers ironing & 34.0%
Slide 10: Revenues breakdown by market
The Group H1 2013 results Revenues breakdown by market H1 2012 revenues breakdown by market H1 2013 revenues breakdown by market Rest of Europe Other East. Eu. 23.9% 3 1% 3.1% Rest of Europe Other O h East. E Eu. E 23.4% Ex-URSS Japan 3.4% 7.3% 2.5% Ex-URSS Japan N. America 6.8% 2.0% Germany 8.9% 11
Slide 11: The net debt position
The Group H1 2013 results The net debt position EUR million H1 2013 FY 2012 H1 2012 Change H1 2013 - H1 2012 Net Working Capital 214.2 243.4 233.1 -18.9 Net Equity 609.1 630.3 572.7 36.5 Net Financial Position -88.3 -92.9 75.2 -163.6 Net Financial Position -14.8 -19.9 56.0 -70.8 excluding non-bank l
Slide 12: The 6m cash flow performance
The Group H1 2013 results The 6m cash flow f performance f Eur million 80 0 80.0 60.0 (25.2) 40.0 70.8 63.0 63.0 103 7 103.7 (43 4) (43.4) 20.0 (95.9) 2.3 Eur 0.0 +4.6 m -20.0 -40.0 operating cash flow changes in changes in AR/AP capex dividends other equity inventories and other w.c. accounts 12
Slide 13: The 12m CF performance
The Group H1 2013 results The 12m CF performance f E million Eur illi 240.0 200.0 (20.5) (26.1) 160 0 160.0 (54.3) 120.0 (208.0) 207.5 80.0 (143.0) cash 40.0 00 paymentt 0.0 -40.0 ( (65.0) non-cash (Earnout) -80.0 -120.0 (43.4) Eur (18.7) (163.6) -160.0 m -200.0 operating cash changes in changes in
Slide 14: Table of contents
Table of contents o H1 2013 results o Appendix: pp summary y of 2011-2013 q quarterly y results 14
Slide 15: Appendix: Summary of 2011-2013 quarterly results
Appendix Summary off 2011-2013 quarterly results (Euro million) 2 0 1 1 (1) 2 0 1 2(1) 2013 HALF FULL HALF FULL HALF Q1-11 Q2-11 YEAR Q3-11 Q4-11 YEAR Q1-12 Q2-12 YEAR Q3-12 Q4-12 YEAR Q1-13 Q2-13 YEAR Revenues 287.8 301.1 589.0 324.4 516.1 1,429.4 317.7 326.7 644.4 344.4 541.3 1,530.1 320.5 350.3 6
Slide 16: Thank you!
Th k you!! Thank Contacts: Fabrizio Micheli – Finance Director & IRM – T: +39 0422 413235 Marco Visconti i i – Investor Relator – T: +39 0422 413764 [email protected]