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De’Longhi Group has reported strong third quarter results for 2024, attributing its performance to the consolidation of Eversys and La Marzocco into a single business in March.
The company’s revenues were reported at €805.5 million (US$853.7 million) in the third quarter, an increase of 14 per cent compared with the same period of 2023.
“These results were obtained in a geopolitical and macroeconomic environment that continues to be complex and to impact consumer confidence, above all in a few key European markets,” De’Longhi said in a statement.
“Not all categories of the small appliances sector were, however, affected by these dynamics with coffee machines, once again, and personal blenders showing good resilience.”
In the nine-month period revenues reached €2229.2 million ($US2363.2 million), an increase of 11.6 per cent against the €1997.8 million (US$2118.4 million) recorded in same period of 2023.
In the third quarter revenue growth was recorded across all geographies, except for Asia Pacific.
Europe recorded like-for-like revenues of €456.3 million (US$483.9 million) in the third quarter and €1304.7 million (US$1383.9 million) in the first nine months, an increase of 7.7 per cent and 8 per cent against the comparison periods, respectively.
Revenues in Americas rose 8.4 per cent in the third quarter to €149 million ($US158 million). In this region, there was further growth in the coffee segment due to fully automatic machine sales and the good performance of the Nespresso business.
The MEIA countries, which were impacted by regional geopolitical tensions, closed the third quarter with
like-for-like revenues up 2.6 per cent against the same period of 2023 at €45.3 million (US$48.05 million).
Lastly, Asia Pacific reported like-for-like revenues of €92.7 million (US$98.4 million) in the third quarter, an 8.7 per cent decrease compared to the same period in 2023, and €277.1 million (US$293.9 million) in the first nine months of the year – a 6.6 per cent decrease. The company said this result reflects the negative exchange rate effect and a few difficulties encountered in the Chinese market, specifically in the professional coffee sector.
In terms of the company’s business lines and consistent with prior reporting periods, coffee continues to be one of the main growth drivers. Fully automatic machines recorded robust growth, both in the quarter and in the first nine months of the year. Nespresso platform capsule machines also recorded good results, while sales for manual and drip coffee machines were weaker.
The post De’Longhi Group posts strong Q3 2024 results appeared first on Global Coffee Report.
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