De'Longhi Revenues rise 9.9 Percent in Q4, 6.7 Percent in Fiscal Year
TREVISO, Italy-Sales in food-preparation products helped propel De'Longhi to a 9.9 percent increase in fourth-quarter revenues, which totaled EUR595 million (about $815 million), according to a preliminary statement on the company's 2013 financial performance.
For the fiscal year, revenues reached EUR1.6 billion (about $2.2 billion), up 6.7 percent. De'Longhi said its top line received a boost from the "very strong growth" in sales of Kenwood small appliances and a contribution from its Braun product line. The company completed the integration of the Braun brand into its product mix during 2013.
Sales of espresso makers were "slightly negative" compared to 2012. Home comfort products also turned in a "negative performance," the statement said.
On a regional basis, De'Longhi logged a 78.4 percent increase in sales for the quarter in the Middle East/India/Africa sector. Sales in Europe gained 16.8 percent, while sales in Asia/Pacific/Americas were down 12.7 percent.
Fabio De'Longhi, the company's CEO, said De'Longhi was satisfied with its 2013 results. Looking ahead to 2014, the company "has the potential to continue on its growth path," De'Longhi said, owing to the expansion of Braun products distribution in Europe among other factors.