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  DELFINGEN INDUSTRY company press release from 28/07/2023

  28/07/2023 - 17:50

Continued strong growth in Q2 2023


PRESS RELEASE

Anteuil, 28 July 2023

Continued strong growth in Q2 2023

  • Growth of 15.3 % to €117.3m (13.8% organic growth)
  • Fourth consecutive quarter of double digit growth

Excellent overall performance in H1 2023

2023 targets confirmed

In €m
unaudited
  Q2   H1
  2022 2023 Δ Δ organic   2022 2023 Δ Δ organic
Mobility   86.2 98.3 +14.0 % +15.3 %   174.9 197.6 +13.0 % +13.8 %
Industry   15.5 19.0 +22.9 % +5.4 %   29.0 36.3 +25.1 % +14.1 %
Total   101.7 117.3 +15.3 % +13.8 %   203.9 233.9 +14.7 % +13.8 %

Continued strong growth in Q2 2023

During the second quarter of 2023, DELFINGEN saw a continuation of the momentum observed during the first three months of the year, generating further solid revenue growth of €117.3m, incorporating a €3.9m contribution from REIKU GmbH and AHN Chem Co. Ldt, which were acquired in early April. With this performance, which represents an increase of 15.3 % (+13.8 % at constant scope and exchange rates), DELFINGEN has generated double-digit growth for the fourth consecutive quarter. The foreign currency effect in Q2 2023 was negative at -0.3 %, due to the €/$ exchange rate.

Over the Q2 2023, revenue derived from the mobility and industrial markets reached double-digit growth levels.

  • Revenue from the mobility market came to €98.3m, up 14.0 % (+15.3 % at constant scope and exchange rates). The textile activity, one of the Group's main growth drivers, saw confirmation of its potential, with revenue up 37 % to €39.8m.
  • Revenue from the industrial market, one of the Group's priority areas of development, came to €19.0m, up 22.9 % (+5.4 % at constant scope and exchange rates).

In cumulative terms in H1 2023, DELFINGEN posted revenue of €233.9 million, up 14.7 % (+13.8 % at constant scope and exchange rates).

Thanks to strategic preferred positions with the world's leading cable operators, DELFINGEN continued to outperform the global automotive market in H1 2023 (+2.6 pts). This outperformance was driven in particular by the Americas (+1.6 pts) and Asia (+21.4 pts) regions.

Breakdown of consolidated revenue by geographical area

All regions posted strong increases over the period:

in €m, unaudited   Q2   H1
  2022 2023 Δ Δ
organic
  2022 2023 Δ Δ
organic
Europe - Africa   47,6 55,8 17,1 % 11,9 %   98,4 111,2 +12,9 % +12,3 %
Americas   43,4 47,5 9,3 % 11,6 %   84,0 94,9 +13,0 % +11,6 %
Asia   10,6 14,0 31,9 % 31,1 %   21,5 27,8 +29,3 % +29,2 %
Total   101,7 117,3 15,3 % 13,8 %   203,9 233,9 +14,7 % +13,8 %

2023 targets confirmed

Thanks to the strong business levels recorded over the first half of the year, DELFINGEN confirms its targets for 2023, i.e.

  • Revenue of €465m;
  • Current operating margin of 6 %.

Next publication:

8 September 2023: H1 2023 results (after the stock market closes)

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.


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  Original Source: DELFINGEN INDUSTRY