Italian appliance manufacturer caps of an incredibly strong 12 months of trading as home coffee machine sales continue to soar
De’ Longhi Group CEO, Massimo Garavaglia | Photo credit: De’ Longhi Group
De’ Longhi Group has credited a “deep-rooted change in lifestyles at home” for fuelling exceptional performance across its business in 2021. The Italian appliance manufacturer said annual revenues rose 36.8% to €3.2bn ($3.6bn) over the last 12 months, with all of its global markets achieving double-digit sales growth.
Double-digit coffee machine segment growth was supported by strong fully automatic and manual machine sales alongside a successful partnership with Nespresso, De’ Longhi said. Meanwhile, Swiss super-automatic espresso machine manufacturer, Eversys
, and Nutribullet maker, Capital Brands, delivered combined revenues of €299m during 2021.
“After strong growth in 2020, 2021 was an extremely favourable year, in which the preference given by consumers to our brands – in a context of a deep-rooted change in lifestyles at home – offered, in all the main markets, important opportunities for growth that we were able to seize by leveraging the increase in investments in communication, innovation and marketing that the De’ Longhi Group has planned to support future growth objectives,” said De’ Longhi Group CEO, Massimo Garavaglia.
The results cap off a year of exceptional performance for De’ Longhi, which in July 2021 reported half-year profits grew 319.5%
to €180.8m. 2021 also saw the company complete its $164m acquisition of Eversys
, building on the 40% stake it acquired in June 2017.
Hospitality trading restrictions and lockdowns during the pandemic have boosted sales of premium at-home coffee
equipment as consumers seek to emulate the café experience at home. Those coffee rituals appear to be retaining momenum, with many operators introducing or expanding retail coffee ranges to keep pace with demand.
Looking to the year ahead, Garavaglia said De' Longhi was in a strong position to deliver “mid-single-digit” sales growth despite ongoing supply chain challenges around the world.