TREVISO, Italy – The De’ Longhi Group, based on the evidence of July and August, estimates a strong growth in sales in the high-teens in the third quarter. In the first half of 2020, the company highlighted a double-digit growth trend of coffee (supported by an expansion of full-automatic and manual machines).
In the first half of 2020, despite the difficulties that arose due to the pandemic, De’ Longhi achieved significant growth in the main product categories. In particular, the Group highlighted a double-digit growth trend of coffee (supported by an expansion of full-automatic and manual machines). The company has even added an overtime shift on Saturdays paying a 90% extra to accommodate the high demand.
In terms of underlying trends, the performance of the period is in continuity with the first half of the year, both at the level of markets and product segments, but with a marked acceleration, higher than what was estimated at the time of closing of the first semester.
Although the macroeconomic scenario remains complex and risks and uncertainties persist on the markets, the current development of sales, reinforced by the actions taken to support the business, allows management to raise the guidance on sales for the year, now estimated to be growing at an organic mid-to-high single digit rate (from the previous mid-single digit), confirming at the same time the guidance of growth in absolute value for the adjusted Ebitda.
The Group, in continuity with its current strategy, confirms its commitment to invest in the development of new products, marketing and communication, with the aim of consolidating the Group’s leadership in the key segments and distribution channels in the medium term.
“In this difficult external context, the health and well-being of our employees remain a priority in all offices and plants, in Italy and abroad, by keeping the tight prevention measures implemented since the beginning of the year and the adoption, wherever possible, of smart working” said the company in a statement.
The results of the third quarter will be disclosed on November 10th, as indicated in the financial calendar available on the company’s corporate website. The company