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De'Longhi Q2 Revenues Rise 7.2 Percent

Posted on August 2, 2013 by HFN Staff

De'LonghiTREVISO, Italy-The De'Longhi Group reported second-quarter revenues of EUR350 million ($463.8 million), up 7.2 percent over last year's second quarter, according to a preliminary statement from the housewares manufacturer.

For the first half of the year, the company said revenues rose 4.1 percent to EUR671 million ($889.2 million), an increase of 4.1 percent. Fabio De'Longhi, the company's CEO, said the second quarter "showed an improvement versus the first quarter, especially if we take into account the marked slowdown of European markets as well as of some of the core non-European countries."

The statement added that some of De'Longhi's more mature geographical markets recorded "good performance," which it attributed in part to the Braun brand, which the company licensed for small electrics from Procter & Gamble last year.

"During the first six months of the year, we had to cope with some unexpected headwinds, like currencies and weak consumption," De'Longhi said. "On one side, this means that the group's expansion targets and the Braun integration will require even greater efforts, while on the other side it makes the current results very remarkable."=