De'Longhi (DLG) Q2 2026 earnings summary

Executive summary

• Delivered strong H1 2026 results with revenues of €1,676.3 million, up 5.8% year-over-year, and exceptional momentum in the Professional division alongside consistent organic growth in Household, despite market and geopolitical uncertainties.

• Adjusted EBITDA for H1 2026 was €283.7 million, up 17.8% year-over-year, with margin expansion supported by Professional division growth and duty refunds.

• Net financial position improved to €686.6 million from €346 million a year earlier, providing strategic flexibility for capital allocation.

• Free cash flow before dividends, buybacks, and acquisitions was €78.3 million in H1 and €508 million on a trailing 12-month basis.

• The group demonstrated resilience amid macroeconomic and geopolitical uncertainty, focusing on cost control and investment in innovation.

Financial highlights

• H1 2026 revenues: €1,676M, up 5.8% year-over-year; Q2 revenues: €899M, up 8.4%.

• Adjusted EBITDA: €284M (16.9% margin) in H1; €158M (17.6% margin) in Q2, up 260 bps year-over-year.

• EBIT for H1 2026 was €218M (13.0% margin), up 29.6% year-over-year.

• Net income for H1 2026 was €169M (10.1% margin), up 30.6% year-over-year.

• Net cash position improved to €687M from €346M last year.

Outlook and guidance

• Full-year revenue growth guidance confirmed at mid-single digit; adjusted EBITDA guidance raised to €670–690 million, reflecting €15 million duty refunds and strong Professional growth.

• Household division expected to deliver low to mid single-digit growth for the full year; Professional division to maintain double-digit growth, normalizing to high single digit in H2.

• Cost pressures and geopolitical uncertainties are incorporated into guidance.