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  DELFINGEN INDUSTRY company press release from 06/05/2022

  06/05/2022 - 17:45

DELFINGEN INDUSTRY: Net sales for the 1st quarter 2022


  • Reported net sales above €100 million
  • Significant automotive market outperformance in all regions
  • Good performance of the industrial business at constant scope of consolidation

Sales

First quarter 2022 consolidated sales

In million euros Q1 2022* Q1 2021 Published   Organic Exchange rates Change of perimeter
Net sales 102.2 100.3 1.9%   0.6% 3.4% -2.1%
               
Mobility 87.7 84.7 3.5%   0.3% 3.2% -
Industrial ** 14.6 15.6 -6.6%   2.7% 4.4% -13.7%

* unaudited
** 2021 scope: sale of the technical straps and belts business on June 30, 2021

  • Mobility market: market outperformance of 4.8 points

Global automotive production fell by 4.5% in the first quarter in a still difficult context with tensions over electronic components, the Russian-Ukrainian crisis and health restrictions in China. DELFINGEN outperformed the market by 4.8 points and by 13.8 points excluding the geographical mix effect of its sales. The decline in automotive production is particularly marked in Europe (-18%), where the group generates 53% of its sales, with the temporary shutdown of many carmaker plants, notably in Germany.

At the end of March 2022, revenues at constant scope of consolidation were up slightly by 0.3% (+3.5% on a reported basis). The effect of exchange rates at the end of March was positive by €2.7 million, mainly due to the parity (€/$).

Cumulative net sales:

By business:

In million euros 2022* 2021 Published   Organic Exchange rates
Protection systems 70.1 69.7 0.5%   -2.3% 2.9%
Fluid transfer 15.0 12.5 20.5%   15.6% 4.9%
Others 2.5 2.6 -0.4%   -3.5% 3.0%

By region:

All regions outperformed the automotive market:

In million euros 2022* 2021 Published   Organic Exchange rates Evolution of the Automotive Market *** Performance vs. Organic (in pts)
Americas 30.9 25.2 22.5%   13.8% 8.7% -3.4% 17.2
Europe - Africa 46.2 50.3 -8.2%   -7.9% -0.3% -18.4% 10.5
Asia 10.6 9.2 15.4%   8.2% 7.3% 0.2% 8.0

*** Source: S&P Global Mobility April 2022

  • Industrial Market:

Industrial Market sales were up 2.7% at constant exchange rates and consolidation scope (-6.6% on a reported basis), with a negative impact (-13.7%) of the change in consolidation scope following the sale of the "Technical straps and belts" activity in June 2021.

The effect of exchange rates at the end of March 2022 is favorable by €0.7 million.


Perspectives

Uncertainty is weighing on the markets with multiple factors such as the situation in Ukraine and supply chain disruptions.

According to S&P Global Mobility (formerly IHS Markit) estimates published in April 2022, global automotive production should reach 80.6 million units, up 4% compared to 2021.

DELFINGEN remains very cautious about market expectations, however, given its strategic positioning in the protection of vehicle electrical wiring, its leadership and its global presence, DELFINGEN expects to outperform the market by 2 to 3 points.

DELFINGEN is adapting to these extreme economic conditions while at the same time seizing the growth opportunities linked to the market transformation towards cleaner and more responsible mobility.

« Safe Harbor » Statement

Although DELFINGEN's management believes that these forward-looking statements are reasonable as of the date of this document, investors are cautioned that forward-looking statements are subject to numerous factors, risks and uncertainties, many of which are difficult to predict and generally beyond DELFINGEN's control, that could cause actual results and events to differ materially from those expressed or implied in the forward-looking statements.

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

WWW.DELFINGEN.COM

EURONEXT Growth Paris
Code ISIN : FR 0000054132
Mnémonique : ALDEL
Next press release: July 29, 2022
First-half 2022 results
Contact : Mr. Christophe Clerc : +33 (0)3.81.90.73.00

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  Original Source: DELFINGEN INDUSTRY