De’Longhi raises 2026 adjusted earnings range to €685–705 million
Key Facts
Italian group De’Longhi on November 11 raised its 2026 forecast for adjusted earnings before interest, taxes, depreciation and amortization to a range of €685 million to €705 million, from €670 million to €690 million, after reporting revenue and earnings growth in the third quarter. The group said in a statement that its forecast for revenue growth in the financial year remains at a mid-single-digit rate. The update lifts both the low and high ends of the previous range by €15 million, while leaving its revenue guidance unchanged. Chief Executive Fabio De’Longhi said the group had achieved its 13th consecutive quarter of organic revenue growth. The published results reflect an improvement in professional business revenue alongside continued growth in the home appliances segment.
In the first nine months of 2026, group revenue reached €2,621.3 million, up 6.5% from the same period in 2025, or 7.7% excluding the impact of foreign-exchange movements. Adjusted earnings before interest, taxes, depreciation and amortization reached €455.2 million, equivalent to 17.4% of revenue, compared with a 15.8% margin a year earlier. Net income attributable to the group also rose 20.4% to €225.8 million. These figures put the nine-month performance in the context of the new annual guidance, without changing the company’s reiterated revenue-growth forecast. The wider earnings margin compared with the year-earlier period points to improved profitability alongside sales growth.
In the third quarter alone, revenue increased 7.7% to €944.9 million, while adjusted earnings before interest, taxes, depreciation and amortization rose 15% to €171.6 million. The margin on these earnings was 18.2% of revenue, compared with 17.0% in the third quarter of 2025. Earnings grew faster than revenue during the quarter, also lifting the comparative margin for the first nine months. De’Longhi said the group had recorded organic revenue growth for the 13th consecutive quarter. The streak points to continued expansion across more than one quarterly period, while segment performance shows varying contributions to quarterly growth.
Professional business stood out as a key driver of the quarterly increase, with revenue rising 36.2% to €165.2 million, while revenue in the home appliances segment increased 3.6%. De’Longhi said professional business revenue had grown by more than 35% in both the third quarter and the first nine months, despite comparison with a strong 2025 base. This shows professional business growth extending across both periods, while the home appliances segment recorded slower growth in the quarter. By market, revenue rose 18.3% in the Middle East, India and Africa, 10.0% in the Americas, 8.5% in Asia-Pacific and 5.6% in Europe. All four regions recorded growth, with a clear variation in rates during the quarter.
The company had previously raised its adjusted earnings guidance in July to €670 million–€690 million, from the earlier range of €640 million–€660 million, while keeping its revenue-growth forecast at a mid-single-digit rate. The current revision follows that update and raises the estimate again based on results reported through the third quarter. In Italy, seasonally adjusted industrial production rose 1.2% in September compared with August, but the third-quarter average fell 0.4% from the second quarter. Year over year, the working-day-adjusted production index fell 0.1% in September. Italy’s statistics institute set December 11, 2026, as the date for the next industrial-production data release.
The group’s net financial position stood at €606.0 million on September 30, 2026, compared with €308.7 million in September 2025. The figure puts the financial position at the end of the period alongside the earnings and revenue growth recorded during the first nine months. The operating factor highlighted by the chief executive was growth in the professional business, which exceeded 35% in both the third quarter and the period since the start of the year. By comparison, the home appliances segment recorded quarterly growth of 3.6%. Revenue and adjusted earnings guidance, according to the statement, remain within the group’s 2026 expectations following the update.