Full Year 2025 De' Longhi SpA Earnings Call Transcript
Key Points
- De'Longhi SpA (DELHF) achieved solid revenue growth of 10.4% at fixed exchange rates in 2025, supported by both divisions.
- The acquisition of La Marzocco and robust organic expansion contributed significantly to revenue growth.
- The professional division maintained strong momentum, achieving over 40% revenue growth at constant exchange rates in Q4.
- The household division achieved a 5.2% revenue growth in Q4, aligning with the company's medium-term growth targets.
- The company generated a total free cash flow of about EUR800 million over two years, supporting significant shareholder returns.
- The nutrition segment experienced a mid-single-digit decline over the 12-month period, primarily due to a slowdown in the US market.
- Currency volatility and tariffs in the US market posed challenges, impacting profitability.
- The household division's price mix contribution was nearly flat for the full year, with a negative currency impact of approximately EUR8 million.
- Logistic costs increased slightly, and additional tariffs in the US market had a net impact of approximately EUR10 million-EUR15 million.
- The company anticipates a slight margin dilution in 2026 due to competitive pressures and potential currency effects.
Good afternoon. This is the Chorus call conference operator. Welcome and thank you for joining the De'Longhi full year 2025 consolidated results. (Operator Instructions)
At this time, I would like to turn the conference over to Mr. Fabio de' Longhi, Chief Executive Officer. Please go ahead, sir.
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Good afternoon, ladies and gentlemen, and thank you for joining the De'Longhi Group conference call for our full year 2025 results. With me on the call today are Nicola Serafin, Group General Manager; Stefano Biella, CFO; Samuele Chiodetto, Investor Relations Director and M&A Manager.
Very pleased with the results delivered in 2025, which strengthen our standing as a global leader in the coffee industry, extending our reach across both home and professional areas, while maintaining a significant presence in the domestic nutrition space. The market backdrop has been challenging over the last 12
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