DELFINGEN Industry : Net sales for the 1st quarter 2021

PRESS RELEASE - DELFINGEN

Net sales for the 1st quarter 2021

Anteuil, May 7th 2021

• Reported net sales above €100 million, up + 70 % (+ 13 % organic)
• Automotive market outperformed in all regions
• Sustained growth (+ 26 %) in the electrical wiring protection business
• Very good sales performance of the ex-Schlemmer EA perimeter

Sales

1st quarter consolidated sales

In million	Q1 2021*	Q1 2020	Published	Organic	Exchange	Perimeter
euros	rate	entry
Net sales	100.3	58.9	70.3 %	13.0 %	-7.0 %	64.3 %
In million	Q1 2021*	Q1 2020	Published	Organic	Exchange	Perimeter
euros	rate	entry
Automotive	51.2	48.2	6.3 %	13.2 %	-6.9 %	-
Industrial	11.2	10.7	4.6 %	12.1 %	-7.5 %	-
Schlemmer	37.9	-	-	-	-	64.3 %

* Unaudited

Bridge turnover 2020-2021 (in million euros)

• Automotive market

Sales at constant exchange rates were up 13.2 % at end-March 2021 (+ 6.3 % on a reported basis).

The exchange rate impact on Automotive sales at the end of March was a negative €3.3 million, mainly due to the exchange rate (€/$).

By business:

The "Protection systems" business grew by 26 %, driven by the transition to hybrid and electric vehicles.

The "Fluid transfer" business was down 10 %, mainly due to the cold snap that hit Texas in March, as well as the shortage of electronic chips that brought several customer plants to a halt in Mexico.

The "Logistics and assembly services" activity is down 63 %, following the shutdown of this activity at the Tangiers site in December 2020.

In million	2021	2020	Published	Organic	Exchange
euros	rate
Protection systems	39.9	33.6	18.9 %	26.2 %	-7.3 %
Fluid transfer	8.8	10.5	-16.5 %	-9.8 %	-6.7 %
Logistics and Assembly Services	1.1	2.8	-63.1 %	-63.0 %	-0.1 %
Interior Trim Fastening	1.5	1.3	17.3 %	29.1 %	-11.8 %

By region:

All regions outperformed the automotive market, particularly in Europe/Africa and the Americas:

In million					Exchange	Automotive	Performance
2021	2020	Published	Organic	market
euros					rate	evolution **	vs. organic
Americas	25.2	25.2	0.2 %	10.4 %	-10.2 %	-3.3 %	13.7
Europe - Africa	17.3	16.6	3.9 %	4.8 %	-0.9 %	-0.9 %	5.7
Asia	8.8	6.4	36.7 %	46.1 %	-9.5 %	32.6 %	13.5

** IHS sources end of March

• Industrial Market:

Industrial Market sales were up 12.1 % at constant exchange rates (+ 4.6 % on published data). At constant exchange rates :

• Sales of Drossbach North America increased by 22.2 % (+ 11.7 % on published data);
• The "Electrical and Thermal Insulation" activity increased by 11.3 % (+ 3.0 % on published data);
• The "Technical Straps and Belts" business declined by 7.6 % (same change on published data).

The exchange rate impact on Industrial Market sales at the end of March was unfavorable by - €0.8 million.

• Schlemmer

The sales of Schlemmer perimeter, which was fully integrated from January 1st, 2021, reached

€37.9 million at the end of March, representing 38 % of the group's total sales. The level of activity is higher than expected at the time of the acquisition.

Perspectives

As long as market conditions (automotive production, raw material prices, supply delays, and the evolution of the dollar) do not decline beyond those experienced in the first quarter, Delfingen confirms its financial objectives, i.e., a turnover of around €370 million and an operating margin of 8 to 9 %.

General Assembly

Following the publication of the governmental plan announcing the third stage of unlockdown on June 9, 2021, the Board of Directors has decided to convene its Annual Shareholders Meeting on June 14, 2021 at 11:00 a.m. at the Company's headquarters, and not on June 4, 2021, as initially announced in its Universal Registration Document published on April 28.

The Company's shareholders will have access in the next few days, in accordance with the legal requirements, to the notice of meeting and to the documents relating to the Annual Shareholders Meeting.

DELFINGEN, a global leader in protection and routing solutions

for electric and fluid on-board networks

WWW.DELFINGEN.COM