De'Longhi : L-f-l growth of 5.3% in Q3 (3%e) underpinned by B2C coffee segment. EBITDA margin improvement of 140bp to 16.3%. Full-year guidance upgraded
>L-f-l growth of 5.3% in Q3 and EBITDA margin expansion of 140bp to 16.3% - For Q3 2024, De’Longhi posted better-than-expected results. Q3 revenues increased by 14% to € 805.5m (ODDO BHF: € 792.4m, css: € 776.5m), with organic growth of 5.3% (ODDO BHF: 3%e; H1 revenues: +4.2% l-f-l). For the first nine months of the year, revenues came in at € 2.229bn, up 11.6% (+4.6% l-f-l). We note the consolidation of La Marzocco for Q3 revenues of € 62.3m (€ 65m est.). Profitabil...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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