Actusnews Wire - Entreprise française spécialisée dans la diffusion d'information réglementée

  Communiqué de la société DELFINGEN INDUSTRY du 03/11/2023

  03/11/2023 - 17:45

Delfingen : Business activity up 4.6% in Q3 2023. Double-digit growth (+11.0%) maintained at September 30th, 2023. 2023 targets confirmed.


PRESS RELEASE

Anteuil, November 3rd, 2023

Business activity up 4.6% in Q3 2023

  • Revenue of €115m, up 6.3% in organic terms
  • Global automotive market outperformed again (by 4.8 points)

Double-digit growth (+11.0%) maintained at September 30th, 2023

2023 targets confirmed

DELFINGEN INDUSTRY (DELFINGEN), a global auto parts manufacturer, leader in onboard network protection solutions and fluid transfer tubes, posted its revenue for the 3rd quarter of 2023 and for the first nine months of 2023.

In €m
unaudited
  Q3   9M
  2022 2023 Δ Δ
organic
  2022 2023 Δ Δ
organic
Mobility   93.2 97.5 +4.5% +8.6%   268.2 295.1 +10.0% +12.0%
Industry   16.8 17.6 +4.9% -6.1%   45.8 53.9 +17.7% +6.7%
Total   110.0 115.0 +4.6% +6.3%   313.9 348.9 +11.1% +11.2%

Business activity up 4.6% in Q3 2023

DELFINGEN grew its revenue once again in Q3 2023, up 4.6% to €115.0m.

At constant scope and exchange rates, excluding the contribution of REIKU GmbH and AHN Chem Co. Ltd, acquired in early April 2023, and excluding a -5% exchange rate effect resulting from the unfavourable trend in the €/$ exchange rate over the quarter, business activity grew 6.3%.

Sales from the Mobility market amounted to €97.5m, up 4.5% (+8.6% at constant scope and exchange rates), outperforming Global automotive market by 4.8 percentage points beside the strike launched in mid-September at three of the major automakers in the United States. The situation is now returning to normal, an agreement having been reached a few days ago between one of the automakers and the US auto syndicate.

The Textile activity confirmed its potential as a growth driver for the Group, with revenue of €20.7m, up 14% after increases of 37% in the first and second quarters of 2023.

Sales from the Industry market amounted to €17.6m, up 4.9% (-6.1% at constant scope and exchange rates), following growth of 28% in Q1 2023 and 23% in Q2 2023.

Double-digit growth maintained in the first nine months of 2023

DELFINGEN posted revenue of €348.9m in the first nine months of 2023, up 11.1% (+11.2% at constant scope and exchange rates).

Over the period, the Mobility and Industry markets both generated double-digit growth. Mobility market sales increased 10.0% (+12.0% at constant scope and exchange rates) and Industry market sales rose 17.7% (+6.7% at constant scope and exchange rates).

Through its leading strategic positions with the main global cable manufacturers, DELFINGEN continued to outperform the global automotive market at September 30th, 2023 (+3 pts), driven in particular by the Asia region (+15.8 pts) and the Americas region (+2.5 pts).

Analysis of consolidated revenue by geographical area

All the regions posted increases over the period:

In €m
unaudited
  Q3   9M
  2022 2023 Δ Δ
organic
  2022 2023 Δ Δ
organic
Europe - Africa   48.5 52.8 +8.9% +4.4%   146.9 163.9 +11.6% +9.7%
Americas   47.7 47.7 +0.0% +7.4%   131.7 142.6 +8.3% +10.1%
Asia   13.9 14.6 +5.2% +9.6%   35.4 42.4 +19.8% +21.5%
Total   110.0 115.0 +4.6% +6.3%   313.9 348.9 +11.1% +11.2%

2023 targets confirmed

In view of the activity recorded in the first nine months of the year, DELFINGEN is confirming its objectives for FY 2023:

  • Revenue of €465m;
  • Current operating margin of 6.5%.

Next event:

XX February 2024: publication of Q4 2023 revenue

About Delfingen (www.delfingen.com)

Delfingen is a global leader in onboard network protection solutions and fluid transfer tubes in the mobility and industry markets.

A family-owned company dating back more than 70 years, the Group has 4,000 employees and a global presence that ensures proximity to its customers, with 42 offices in 22 countries on four continents: Americas, Europe, Africa and Asia. 

Delfingen is at the heart of the new challenges of mobility today and tomorrow: electrification, connectivity, autonomous driving, safety and environmental standards.

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 - Finance
cclerc@delfingen.com
T: +33 (0)1 81 70 37 00
SEITOSEI.ACTIFIN
Investor Relations
Alexandre Commerot
acommerot@actifin.fr
T. +33 (0)1 56 88 11 18
SEITOSEI.ACTIFIN
Press Relations
Isabelle Dray
idray@actifin.fr
T. +33 (0)1 56 88 11 29

"Safe Harbor" statement

Although Delfingen's Management believes that the expectations reflected in such forward-looking statements are reasonable at the time of publication of this document, investors are cautioned that forward-looking information and statements are subject to various elements, risks and uncertainties, many of which are difficult to predict and generally beyond the control of Delfingen, that could cause actual results and developments to differ materially from those expressed in or projected by the forward-looking statements.


This publication embed "🔒 Actusnews SECURITY MASTER".
- SECURITY MASTER Key: mp1qZphvYWqclm+dZ5dtmmSYnGZpxGjKaGiVmpdrlJaVapxkm5uXZpecZnFjnGZo
- Check this key: https://www.security-master-key.com.



  Original Source : DELFINGEN INDUSTRY