De'Longhi 2013 Revenues Up 6.7%
Feb 5, 2014
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De’Longhi Group reported preliminary consolidated 2013 revenues of EUR 1,633 million, up about 6.7% (up about 10% at constant exchange rates).

Fourth quarter revenues were about EUR 595 million, up about 9.9% (up about 15% at constant exchange rates).

De’Longhi saw revenues growing in West Europe markets. This was driven by the group's core markets, such as Germany and Italy, as well as growth in Benelux (Belgium, Netherlands, and Luxembourg), France, and Spain.

The MEIA region (Middle East, India, Africa) recorded particularly strong performance. Revenue growth was about +53.2%
over full-year 2013.

Revenues in East Europe markets increased, thanks to strong performance in markets like Poland and Ukraine; sales in Russia, however, were significantly below expectations.

The company saw good performance from its food preparation appliance segment, with very strong growth of Kenwood-brand kitchen machines and Braun-brand appliances.

The espresso coffee makers segment was down slightly from 2012. Sales of DolceGusto brand showed strong growth, but this was offset by a slowdown of Nespresso-brand coffee makers. Sales of fully automatic coffee makers were approximately in-line with 2012.

Comfort appliances were negative in 2013.

De’Longhi completed the integration of the Braun brand during 2013 The line's 2013 revenues about matched expectations, but were lower than the line produced in 2012, when it was a part of Procter & Gamble. De’Longhi sees the potential for volume recovery and further development for Brain in 2014.

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