Coffee Service

Eversys helps drive De Longhi Q4 2023 sales

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January 26, 2024

De' Longhi S.p.A., a Treviso, Italy-based coffee equipment manufacturer, lifted it Q4 2023 sales, driven in part by Eversys coffee equipment, according to a press release. Highlights include:

• Revenues rose 4.6% from Q4 2022 to €1.07 billion ($1.16 billion) in Q4 2023.
• Full year revenues fell 2.7% to €3.07 billion ($3.34 billion).
• Sales in the fourth quarter varied by geographic region.
• Europe sales rose 10.8% to €698.4 million ($758.81 million).
• Middle East, India and Africa sales rose 6.2% to €44.4 million ($48.24 million).
• Americas sales fell 10.6% to €183.2 million ($199.05 million).
• Asia Pacific sales fell 1.5% to €150.7 million ($163.73 million).

The company highlighted the growth of Eversys professional coffee machines, which maintained a consistent expansion during the year with a 30% sales growth.

The coffee machine sector in general reached mid-single digit growth in the fourth quarter, supported by an acceleration at a low teens pace in the super-automatic machines category.

Shares traded at $32.78 today against a 52-week range of $21.23 to $32.78.

"During the year, we were able to significantly improve the group's growth, profitability and cash generation," Babio de Longhi, CEO, said in the press release. "In particular, in the second part of 2023, the continuous expansion of coffee machines and the path back to growth of the nutrition and food preparation sector, the latte supported mainly by the development of both the Nutribullet and Braun brands, allowed the group to achieve organic growth at a high single-digit rate in the last six months."