De'Longhi SpA reported consolidated, full-year 2012 revenues of EUR 1,530.1 million, up 7.0% from 2011 revenues. Ebitda (before non-recurring items) was EUR 232.3 million, up 10.8% from 2011. Net income was EUR 118.0 million. Ebit was EUR 84.5 million, or 15.6% of revenues, up 20.8% from the previous year.
In the fourth quarter of 2012, revenues were EUR 541.3 million, up 4.9% from the fourth quarter of 2011. Ebitda before non-recurring items was EUR 93.9 million, or 17.4% of revenues, up by 14.9% in 4Q 2011. Ebit was EUR 84.5 million, or 15.6% of revenues, an increase of 20.8% from the previous year.
Fiscal year 2012 was De'Longhi Group's first year after the demerger of the Professional division. The Professional division became part of DeLclima S.p.A., a separate group listed on the Milan Stock Exchange, as of Jan. 1, 2012.
De'Longhi Group's 2012 significant investments included a perpetual licensing agreement of the Braun brand for Household products. As of Jan. 1, 2013, the group took over operations connected to Braun Household. Procter & Gamble had been managing the business during the transitional period that ended Dec. 31, 2012.
De'Longhi Group also invested in the expansion of production capacity in China and in Romania. This included the acquisition of a Romanian plant, where fully automatic coffee maker production began at the beginning of 2013. Further investments in the plant will expand production. When the plant reaches maximum capacity in 2014 it will also manufacture food preparation appliances.
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