DELFINGEN Industry: Net Sales for 4th quarter 2020


 

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 euroQ4 2020*Q4 2019PublishedOrganic Exchange
rates
Change of
perimeter
Net sales
90.857.657.5 % 16.0 %- 5.4 %47.0 %

 

In millions euroQ4 2020*Q4 2019PublishedOrganic Exchange
rates
Change of
perimeter
Automotive54.247.813.5 %19.0 %- 5.5 %-
Industrial9.59.8- 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
241.9230.55.0 %- 9.0 %- 1.8 %15.8 %


 

In millions euro  2020*    2019     Published     Organic Exchange ratesChange of
perimeter
Automotive169.7186.8- 9.2 %- 7.2 %- 2.0 %-
Industrial35.843.6- 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
120.6132.4- 8.9 %- 6.9 %- 2.0 %
Fluid transfer35.838.9- 7.9 %- 6.3 %- 1.6 %
Logistics and Assembly Services9.110.1- 10.1 %- 9.5 %- 0.6 %
Interior Trim Fastening4.25.4- 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  
Americas85.7 94.6 - 9.5 %- 7.1 %- 2.4 %
Europe - Africa59.063.5- 7.2 %- 6.4 %- 0.8 %
Asia25.128.7- 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   OrganicExchange ratesAutomotive 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
48.245.85.2 %3.6 %1.6 %- 23.0 %26.6 pts
Q218.345.8- 60.1 %  - 59.7 %  - 0.4 %- 39.4 %- 20.3 pts
Q349.047.53.3 %6.7 %- 3.4 %  - 4.6 %  11.3 pts  
Q454.247.813.5 %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 

 www.delfingen.com



 

Attachment



Pièces jointes

PR Q4 2020