Italian coffee machine and appliance manufacturer’s half-year revenues grow 59.7% to €1.43bn as global at-home coffee trend shows no sign of slowing
DeLonghi CEO hails ‘extraordinary results’ as year-on-year profits grow 319.5% | Photo credit: DeLonghi
DeLonghi Group continues to benefit from strong global demand for at-home coffee equipment. The Italian appliance manufacturer reported net profit of €180.8m in the first six months of 2021, up a staggering 319.5% on the same period in 2020.
“The extraordinary results achieved in these first six months witness the solidity of the medium-term trends of our core segments and the resilience and flexibility shown by our group and in particular by our people,” said CEO Massimo Garavaglia.
DeLonghi highlighted its coffee appliance products as key performers, with demand for super-automatic coffee machines above the group’s average in both quarters.
The results indicate a sustained trend towards consumers investing in premium at-home coffee experiences, following hospitality business closures and lockdowns during the pandemic.
Swiss food and beverage giant Nestlé also reported strong half-year sales revenues for 2021, driven by substantial demand for Nescafé, Nespresso and Starbucks branded retail coffee products.
Strong sales of super-automatic coffee machines will be welcome news for Delonghi. In May 2021, the company completed its $164m acquisition of Swiss super-automatic espresso machine maker, Eversys, gaining the remaining 60% stake in the company in addition to the 40% it acquired in June 2017.