De'Longhi : Activity remains resilient in Q3 (l-f-l: 3.0%e) despite a demanding comparison base
>Q3 preview: organic growth anticipated at 3.0% and an 80bp improvement in the EBITDA margin to 15.7%e - De’Longhi is due to publish its Q3/9M 2024 results on 12 November. Our estimates for Q3 are based on: Reported sales growth of 12.1% to € 792.4m est. (cons.: € 791m est.), Q3 organic growth is anticipated at 3.0%e, compared to l-f-l growth of 4.2% in H1, of which 1.5% in Q2 alone (impacted by the slowdown in the comfort segment). Our estimates factor in the co...De Longhi is a holding company. Through its subsidiaries, Co. operates three divisions: Household, Professional and Corporate. The Household division operates in the domestic appliances market with products for air cooling and treatment, heating, food preparation and cooking, domestic cleaning and ironing. The Professional division operates in the market for large thermo-cooling systems, hydronic terminals, heat pumps and wall-mounted air-conditioning units. The Corporate division which mainly provides corporate services to the group with the functions of setting strategy, of control, co-ordination and management of centralized activities and resources.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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