De' Longhi, + 36.8% revenues in 2021
The coffee machine segment shows double-digit growth
De 'Longhi closed 2021 with revenues of 3,217 million euros, up by 36.8% (+38.2 at constant exchange rates) and by 24.1% on a like-for-like basis. In particular, growth in the fourth quarter was 21.6% (+ 10.9% on a like-for-like basis). CEO Massimo Garavaglia defined 2021 as an "extremely favorable year, despite the difficulties in production and distribution". He was confident for 2022, when organic sales are expected to grow at a mid-single-digit rate. "We will continue our strategy of strengthening our global presence and increase our investments in communication, innovation and marketing", he commented.
The coffee machine segment recorded double-digit growth in both the twelve months and the fourth quarter, supported by the expansion of both super-automatic and manual machines. The partnership with Nespresso is also growing. The cooking and food preparation segment closed 2021 with double-digit growth, driven by an expansion of the main product categories such as kitchen machines and hand blenders. The comfort sector data (domestic air conditioning) was also positive, while the home care sector (domestic cleaning and ironing) held. Finally, Capital Brands and Eversys contributed to the growth of the Group by bringing revenues of € 299.4 million in the year and € 93.7 million in the fourth quarter, with a trend in line with management expectations.
South West Europe achieved double-digit performance in both the twelve months and the fourth quarter, thanks to the expansion of major countries such as Germany, France, Italy and the Iberian peninsula. The Meia area recorded an increase in twelve months of 42.1%, higher than the Group average. The America area achieved double-digit growth supported by a significant acceleration in the coffee segment. The Asia Pacific region achieved 10.3% growth in 2021, thanks to expansion at a double digit rate in major markets such as China and Hong Kong, Australia and New Zealand.
EFA News - European Food Agency