(Finance) – De’ Longhia group listed on Euronext Milan and active in the small household appliance sector dedicated to the world of coffee, cooking, air conditioning and home care, expects an increase in sales for the three-year period 2024-2026 with a CAGR at constant exchange rates between 7% and 9%, including the consolidation of La Marzocco from 1 March 2024. This expectation of an increase in turnover is supported by an expansion at a constant perimeter, in continuity with the growth trend achieved by the Group in the medium term, in the mid single digit range. We read it in a note preceding the Capital Markets Day of tomorrow.
Profitability projections predict for the new perimeter a adjusted Ebitda as a percentage of revenues improving between 130 and 230 basis points in 2026, compared to the value reported at the end of last year (equal to 14.4% of turnover). This improvement is in line with the progression anticipated in the current guidance relating to 2024 and will see a potential further consolidation in the coming years based on the current market growth estimate.
In continuity with what was announced in the previous strategic plan, and in light of the recent extraordinary operations, the Group estimates a cash generationbefore dividends and any acquisitions, between 280 million and 320 million euros on average per year, with a level of industrial investments (Capex) around 150 million euros per year.
In terms of strategic use of the cash generated, the Group reiterates a strong focus on possible external growth opportunities, reconfirming its M&A strategy focused on geographical and product expansion with the aim of strengthening growth trends and leadership positioning on international markets.
Regarding the rremuneration of shareholdersthe current dividend policy remains in place which provides for a pay-out ratio of 40% of net profit, which can be modified in the event of significant changes in financial leverage.
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