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DELFINGEN Industry: Net Sales for 4th quarter 2020

DELFINGEN Industry
·5 min de lecture

PRESS RELEASE
Anteuil, February 5th, 2021


Fourth quarter net sales up 57.5 %
Organic growth in the Automotive Division of 19 %
and outperformance of the Automotive Market by 17 points


Consolidated sales for 4th quarter

In millions euro

Q4 2020*

Q4 2019

Published

Organic

Exchange
rates

Change of
perimeter

Net sales

90.8

57.6

57.5 %

16.0 %

- 5.4 %

47.0 %

In millions euro

Q4 2020*

Q4 2019

Published

Organic

Exchange
rates

Change of
perimeter

Automotive

54.2

47.8

13.5 %

19.0 %

- 5.5 %

-

Industrial

9.5

9.8

- 3.9 %

1.4 %

- 5.3 %

-

Schlemmer **

27.1

-

-

-

-

47.0 %


2020 consolidated sales

In millions euros

2020*

2019

Published

Organic

Exchange rates

Change of
perimeter

Net sales

241.9

230.5

5.0 %

- 9.0 %

- 1.8 %

15.8 %


In millions euro

2020*

2019

Published

Organic

Exchange rates

Change of
perimeter

Automotive

169.7

186.8

- 9.2 %

- 7.2 %

- 2.0 %

-

Industrial

35.8

43.6

- 18.0 %

- 16.8 %

-1.2 %

-

Schlemmer **

36.4

-

-

-

-

15.8 %

* Unaudited
** Excluding sites held in joint ventures


CONSTANT PERIMETER

Automotive market: 9.2 % decline in a market that went down by 16.3 %***

Sales at constant exchange rates went down by 7.2 % at the end of December 2020 (-9.2 % based on published data), while worldwide automotive production fell by 16.3 %***.
The impact of exchange rates on -Automotive- sales at the end of December was unfavorable at €3.7 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

120.6

132.4

- 8.9 %

- 6.9 %

- 2.0 %

Fluid transfer

35.8

38.9

- 7.9 %

- 6.3 %

- 1.6 %

Logistics and Assembly Services

9.1

10.1

- 10.1 %

- 9.5 %

- 0.6 %

Interior Trim Fastening

4.2

5.4

- 22.4 %

- 16.8 %

- 5.6 %

By region:

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

In millions euro

2020

2019

Published

Organic

Exchange rates

Americas

85.7

94.6

- 9.5 %

- 7.1 %

- 2.4 %

Europe - Africa

59.0

63.5

- 7.2 %

- 6.4 %

- 0.8 %

Asia

25.1

28.7

- 12.5 %

- 9.4 %

- 3.1 %

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

Automotive market
evolution ***

Performance

vs. organic

Americas

- 9.5 %

- 7.1 %

- 2.4 %

- 22.0 %

14.9 pts

Europe - Africa

- 7.2 %

- 6.4 %

- 0.8 %

- 21.1 %

14.7 pts

Asia

- 12.5 %

- 9.4 %

- 3.1 %

- 11.4 %

2.0 pts

By quarters:

In millions euros

2020

2019

Published

Organic

Exchange rates

Automotive
market
evolution ***

Performance

vs. organic

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

Q4

54.2

47.8

13.5 %

19.0 %

- 5.5 %

2.1 %

16.9 pts

Industrial Market:

Industrial Market decreased by 16.8 % at constant exchange rates ( -18 % on published data).
At constant exchange rates,

  • Drossbach North America sales went down by 13 % ( -14.6 % on published data),

  • The “Electrical and thermal insulation” business went down by 15.7 % ( -17.2 % on published data),

  • The “Technical Belts and straps” business went down by 26.2 % (same change on published data).

The impact of the exchange rates on - Industrial market - sales was unfavorable by - 0.5 m€ at the end of December.

CHANGE IN PERIMETER

Schlemmer’s Europe-Africa activities

Considering the very recent integration of Schlemmer’s Europe/Africa perimeter, Schlemmer is for the moment isolated from the historical perimeter of DELFINGEN. Figures at the end of December are significantly better than those expected at the time of the acquisition. A proforma analysis of sales for this activity shows a breakdown of around 93 % in the Automotive Market and 7 % in the Industrial Market.

Net sales from sites held in joint ventures (Italy, Morocco and Tunisia) are not included in the published revenues because these sites are placed on an equivalence.
Between September and December, the amount of this turnover is 6.7 m€. Following the acquisition of 51 % of Schlemmer Italy previously held by Intercable, the Schlemmer Italy, Morocco and Tunisia entities will be fully consolidated from December 31st, 2020. (see December 23rd, 2020 Press Release).

Perspectives :

DELFINGEN’s strong commercial performance in Q4 confirms the company’s strategic positioning in a rapidly changing Automotive Market with accelerating demand for hybrid and electric vehicles.

DELFINGEN’s mission is to protect the electrical wiring, the real vehicles’ nervous system.

In this context, and as announced in the press release of December 23rd, 2020, DELFINGEN expects a current operating margin of around 8.0 % of turnover.


*** Source: IHS December 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: March 26th, 2021 - 2020 Annual Results
Contact: Mr Christophe Clerc : +33 (0)3.81.90.73.00

www.delfingen.com



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