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
Attachment
