DELFINGEN Industry: Net Sales for 3rd quarter 2020

DELFINGEN gets back to growth and significantly outperforms the market 

In the third quarter, in a 5 %** market down, the Automotive Division grew by 7 % on a constant perimeter basis. In September, Delfingen achieved its highest ever revenue level, up + 15 % compared to September 2019 at constant scope of consolidation and + 63 % with the consolidation of Schlemmer’s Europe-Africa activities.

Consolidated sales for 3rd quarter

In millions euro Q3 2020* Q3 2019 Published Organic  Exchange rates  Change of perimeter
Net sales 67.1 58.4 14.9 %  2.3 % - 3.3 % 16.0 %

  

In millions euro Q3 2020* Q3 2019 Published Organic Exchange rates  Change of perimeter
Automotive 49.0 47.5 3.3 % 6.7 % - 3.4 % -
Industrial 8.8 10.9 - 19.8 % - 16.7 % - 3.0 % -
Schlemmer 9.3 -  -   -  - 16.0 %

* Unaudited

Consolidated sales at the end of September 2020

In millions euro    2020*     2019   Published    Organic   Exchange rates  Change of perimeter 
Net sales 151.1 172.9 - 12.6 % - 17.3 % - 0.6 % 5.4 %

 

In millions euro              2020*  2019 Published  Organic  Exchange rates Change of perimeter
Automobile 115.5 139.1 - 17.0 % - 16.2 % - 0.8 % -
Industriel 26.3 33.8 - 22.1 % - 22.1 % 0.0 % -
Schlemmer  9.3 - - - - 5.4 %

* Unaudited

CONSTANT PERIMETER

Automotive market : a 17 % decline in a market that went down by 26 %** Sales at constant exchange rates went down by 16 % at the end of September 2020 (-17 % based on published data), while worldwide automotive production fell by 23 % **. The impact of exchange rates on -Automotive- sales at the end of September was unfavorable at €1.1 million mainly due to the exchange rate (€/$).

By business:All businesses outperformed the automotive market, with the exception of the “Interior Trim Fastening” business, which was mainly impacted by the sharp decline in the Indian market. 

In millions euro   2020     2019     Published    Organic   Exchange rates 
Protection systems 82.0 100.4 - 18.3 % - 17.4 % - 0.8 %
Fluid transfer 24.1  27.3 - 11.5 % - 11.4 % - 0.1 %
Logistics and Assembly Services 6.7 7.4 - 9.4 % - 8.9 %  - 0.5 %
Interior Trim Fastening 2.7 4.0 - 33.8 % - 29.9 % - 3.9 %

By region :All regions have been affected at the same level by the crisis.

 In millions euro    2020     2019     Published    Organic   Exchange rates 
Americas 58.9     70.7 - 16.7 % - 16.1 % - 0.6 %
Europe - Africa 40.0     47.2 - 15.2 % - 14.6 % - 0.6 %
Asia 16.6     21.2 - 21.7 % - 19.9 % - 1.8 %

In the Americas and Europe - Africa regions, which account for 85 % of its automotive sales, DELFINGEN clearly outperformed the market.

 In millions euro     Published     Organic    Exchange rates 
Americas - 16.7 %   - 29.0 % 12.3 pts
Europe - Africa - 15.2 %   - 29.0 % 13.8 pts
Asia - 21.7 %   - 17.0 % - 4.7 pts

By quarters:

 In millions euro  2020   2019      Published      Organic   Exchange rates    Automotive market evolution   Performance 
Q1 48.2 45.8 5.2 % 3.6 % 1.6 % - 23.0 % 26.6 pts
Q2 18.3 45.8 - 60.1 %   - 59.7 %   -0.4 % -39.4 % -20.3 pts
Q3 49.0 47.5   3.3 % 6.7 % - 3.4 %   - 4.6 %   11.3 pts  

Industrial Market:Industrial Market decreased by 22.1 % at constant exchange rates and on a published data.

At constant exchange rates,

• Drossbach North America sales went down by 19.8 % (same change on a published data); • The “Electrical and thermal insulation” business went down by 17.4 % (-17.5 % in published data); • The “Technical Belts and straps” business went down by 29.4 % (same change on a published data). 

The impact of the exchange rates on - Industrial market - sales was not significant at the end of September.

CHANGE OF PERIMETER

Schlemmer’s Europe-Africa activities Schlemmer’s Europe-Africa perimeter was integrated on September 1st. The September figures are in line with those expected at the time of acquisition. The proforma analysis of sales shows a breakdown of approximately 93 % in the Automotive Market and 7 % in the Industrial Market.

Perspectives:Delfingen’s strong commercial performance in the third quarter confirms the company’s strategic positioning in a fast-changing automotive market with accelerating demand for hybrid and electric vehicles. Delfingen’s mission is to protect the electrical wiring, the true vehicles’ nervous system. 

The Group estimates the decline in activity for the 2020 fiscal year (excluding changes in the scope of consolidation) to be in the range of -15 to -20 % with, nevertheless, a positive operating margin from recurring operations. 

Investors are invited to refer to the Press Release regarding the launch of a capital increase with maintenance of the preferential subscription right, published today.

 ** source : IHS octobre 2020  

DELFINGEN, a global leader in protection and routing solutionsfor electric and fluid on-board networks

EURONEXT Growth Paris - Code ISIN : FR 0000054132 - Mnemonic: ALDELNext press release:  February 5th, 2021 - Fourth quarter 2020 net sales Contact: Mr. Christophe Clerc : +33 (0)3.81.90.73.00 - www.delfingen.com

 

Attachment

  • PR Q3 2020
Delfingen Industry (EU:ALDEL)
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