DELFINGEN INDUSTRY : 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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