Brief: De' Longhi Sees Sales To Grow 10-12% in 2021-2023

De Longhi SpA

25/03/2021 07:24

March 25 (Reuters) - De' Longhi SpA  DLG.MI :
    * CONFIRMS GROWTH STRATEGY FOR 2021-2023 WITH SALES EXPECTED
TO
GROW AT CONSTANT EXCHANGE RATES AT CAGR BETWEEN 10% AND 12%
INCLUDING SINCE 2021 NEWLY ACQUIRED CAPITAL BRANDS
    * PROFITABILITY IS EXPECTED TO EXPAND WITH ADJUSTED. EBITDA
MARGIN
INCREASING AS PERCENTAGE OF REVENUES BETWEEN 40 AND 100 BASIS
POINTS BY YEAR 2023 (INCLUDING CAPITAL BRANDS) COMPARED TO 2020
REPORTED VALUE
    * INDUSTRIAL INVESTMENTS, ADDITIONAL TO ORDINARY ONES, ARE
PLANNED
IN 2021-2023 FOR APPROX. € 100 MILLION COMPARED WITH € 45
MILLION INCURRED IN 2018- 2020
    * FOR 2021-2023, CASH GENERATION, BEFORE DIVIDENDS AND
EXTRAORDINARY TRANSACTIONS, IS ESTIMATED ON AVERAGE AT AROUND €
250 MILLION PER YEAR
    * IN ADDITION TO DEVELOPMENT OF COFFEE, COMPONENT OF
EXPECTED
FUTURE GROWTH IS  REPRESENTED BY SEGMENT OF FOOD PREPARATION,
NUTRITION AND COOKING
    * WITH REGARD TO EXTERNAL GROWTH, CONTINUES TO EXPLORE EVERY
OPPORTUNITY FOR EXPANSION IN GEOGRAPHIES AND/OR PRODUCT
CATEGORIES

Source text for Eikon:  urn:newsml:reuters.com:*:nBIA1FmTwb
Further company coverage:  DLG.MI 

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