De'Longhi : Solid performance in H1: sales growth 4.2% l-f-l and Adjusted EBITDA margin increase by 200bp. 2024 guidance unchanged
>L-f-l growth 4.2% in H1 and 1.5% in Q2 (affected by the comfort segment) - De’Longhi has published H1 results close to expectations. H1 revenue was up 10.3% to € 1,423.7m (ODDO BHF: € 1,429.7m, cons: € 1,429.8m), including organic growth of 4.2%. For Q2 alone, organic growth totalled 1.5% (ODDO BHF: 4.0%e), impacted by a significant slowdown in the Comfort segment (~3/4% of consolidated revenue; -35% estimated) due to an unfavourable weather season as well as the sh...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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