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  DELFINGEN INDUSTRY company press release from 05/05/2023

  05/05/2023 - 17:40

Record revenue in Q1 2023


PRESS RELEASE

Anteuil, May 5th, 2023

Record revenue in Q1 2023

  • Growth of +14 %, to €116.6m
  • Double-digit growth over all business lines

Upward revision of 2023 revenue target to €465m

Reaffirmation of the current operating margin target of 6 % in 2023

in € millions
unaudited
Q1 2023 Q1 2022 Change Organic
change
[1]
Mobility 99.3 88.7 +12.0 % +12.4 %
Industrial 17.2 13.5 +27.6 % +24.0 %
Total revenue 116.6 102.2 +14.0 % +13.9 %

In Q1 2023, DELFINGEN recorded revenue of €116.6m, up +14.0 % (+13.9 % at constant scope and exchange rates), thus posting its best revenue ever recorded in one quarter, continuing the growth acceleration initiated in the second half of 2022. The foreign currency effect as at late March 2023 is positive, at +1.7 %, mainly due to the parity (€/$).

Over the period, the Mobility and Industrial markets, contributed to this performance.

  • Sales derived from the Mobility market totalled €99.3m, up +12.0 % (+12.4 % at constant scope and exchange rates), benefiting from the market environment stabilization that began in the second half of 2022. The textile activity recorded revenue of €19.6m, up +36.4 %, confirming its strong potential as a growth relay for the Group.

Although still operating in a macroeconomic context impacted by shortages of electronic components and the Russia-Ukraine war, DELFINGEN is capitalising on its strategic positions with its primary global cable manufacturers in order to over-perform on the automotive market (+6.7 pts), particularly in the Americas (+2.3 pts) and Asia (+28 pts) markets, which are recording strong growth this quarter.

  • Sales derived from the Industrial market, one of the Group's development priorities, totalled €17.2m, up a strong +27.6 % (+24.0 % at constant scope and exchange rates).

Analysis of consolidated revenue by geographical area

All regions posted increases over the period:

in € millions
unaudited
Q1 2023 Q1 2022 Change Organic
change
[2]
Europe - Africa 55.4 50.8 +9.0 % +9.7 %
Americas 47.4 40.6 +16.9 % +11.7 %
Asia 13.7 10.8 +26.7 % +27.4 %
Total revenue 116.6 102.2 +14.0 % +13.9 %

Upward revision of 2023 revenue target

Considering the acquisitions of REIKU and AHN Chem[3], carried out in Germany and South Korea respectively, and consolidated from April 1st, 2023, DELFINGEN is announcing an upward revision of its revenue target. The Group now anticipates €465m in revenue over the financial year, as opposed to the €450m initially announced.

Reaffirmation of the 2023 current operating margin target

DELFINGEN also reaffirms its current operating margin target of 6 % (compared to 5 % in 2022).

About DELFINGEN (www.delfingen.com)

DELFINGEN is an automotive supplier and world leader in on-board network protection solutions and fluid transfer tubes for the mobility and industrial markets.

A family-owned company, DELFINGEN has 4,000 employees and operates worldwide, close to its customers, with 40 locations in 21 countries on 4 continents: Americas, Europe, Africa and Asia.

DELFINGEN is at the heart of the new mobility challenges: electrification, connectivity, autonomous driving, safety and environmental requirements.

DELFINGEN is listed on the Euronext Growth Paris market (FR0000054132 - ALDEL) and is a member of the MiddleNext association.

DELFINGEN
Christophe Clerc
Executive Vice President - Finances
cclerc@delfingen.com
T. +33 (0)1 81 70 37 00
ACTIFIN
Investors relations
Lucie Morlot
lucie.morlot@actifin.fr
T. +33 (0) 1 80 18 26 33
ACTIFIN
Press relations
Isabelle Dray
idray@actifin.fr
T. +33 (0)1 56 88 11 29

Declaration « Safe Harbor »

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.


[1] At constant scope and exchange rates

[2] At constant scope and exchange rates

[3] Press Release of 3 April 2023


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  Original Source: DELFINGEN INDUSTRY