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DELFINGEN Industry: Net Sales for 3rd quarter 2020

DELFINGEN Industry
·4 min de lecture

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 solutions
for electric and fluid on-board networks

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


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