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Daily News

De' Longhi S.p.A. Reports Increase in Second Half Results
Jul 26, 2007
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Italian appliance maker De' Longhi S.p.a. reported that second quarter revenues were up 10.5% compared to the same period last year. Both the company's Household and Professional divisions contributed to the increase, but with more emphasis on the latter, thanks to recent acquisitons.

Within the Household division, the leading product segments were coffee makers, food processors, portable air-conditioners, electric fryers and ironing systems. The company's heating business was negatively affected by a mild winter.

Growth was spread throughout all Europe (including Italy), but was specifically seen in Germany and Russia. The UK, North American, and Asian markets were less performing.

"We are very satisfied with these results," said CEO Fabio de' Longhi, "in a quarter where we were hit by a very extraordinary events, like the fire in our Treviso plant, that impacted on the sales of some of our product lines. So, despite some lost opportunities, the growth in the second quarter demonstrates the strenght of our brands and products, as well as, above all, the power to react of all the company, management, employees and workers."

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