De' Longhi ups 2021 full-year sales guidance after strong Q1 results
12/05/2021 12:44
May 12 (Reuters) - Italian home appliances maker De' Longhi
DLG.MI revised upwards its 2021 sales guidance on Wednesday
after posting strong first-quarter results driven by sales of
coffee machines, kitchen utensils and new products.
The company said it expected consumers' attention towards
the home and kitchen environment to continue and saw for the
rest of the year a "very robust and more sustained sales trend"
than previously expected.
It forecast full-year revenues to grow between 29%-33% at
constant exchange rates compared to the 22-26% range forecast
in March. urn:newsml:reuters.com:*:nFWN2L9089.
In the January-March period the group's adjusted earnings
before interests, taxes, depreciation and amortization (EBITDA)
were up to 128.6 million euros ($155.95 million) from 42.1
million euros in the same quarter of 2020. Revenues in the
quarter rose 72.6% to 678.7 million euros.
The new guidance and results sent the group's shares up more
than 2% on the Milan bourse before retreating some of the gains.
At 1140 GMT they were up 1.5%, outperforming Milan's all-share
index .FTITLMS .
($1 = 0.8246 euros)
(Reporting by Federico Maccioni, editing by Giulia Segreti)
((Federico.Maccioni@thomsonreuters.com; +48 58 7696595))