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    DLX   DE000A0MZ4B0

DELIGNIT AG

(DLX)
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Delignit : Half-year Report 2021

08/20/2021 | 01:24am EST

Contents

Brief portrait of the Delignit Group

3

Delignit Group at a glance

4

Greetings from the Management Board

5

Group management report for the fiscal half-year from

1 January to 30 June 2021 Delignit AG, Blomberg

7

1.

General description of the company

7

2.

Business and framework conditions

7

3.

Market environment of the Delignit Group

8

4.

Organisation

9

5.

Results of operations, financial position and net assets

11

6.

Hedging transactions

12

7.

Risk report

13

8.

Strategic orientation and opportunities of the Delignit Group

13

9.

Sustainability/financial and non-financial performance indicators

15

10. Events after the reporting period

15

11. Other information

15

12. Guidance

16

IFRS interim consolidated statement of financial position of Delignit AG

(unaudited) as at 30 June 2021

18

IFRS interim consolidated statement of comprehensive income (unaudited)

for the fiscal half-year from 1 January to 30 June 2021 of Delignit AG

20

Disclosures on accounting

21

Financial calendar

21

Contact

21

Page 2 of 21 pages

Brief portrait of the Delignit Group

The Delignit Group develops, manufactures and sells ecological, usually hardwood-based, materials and system solutions based on the natural, renewable and CO2-neutral raw material wood.

As a development, project and serial supplier for technology industries, such as the automotive industry, aviation industry and railway industry, business activity today is focused on creating and implementing technological and customised applications and systems.

These applications and systems are used in the form of specific - predominantly ready-to-install - parts, components, system solutions and module solutions. The foundation for this is provided by the Delignit material, which is primarily based on beech wood. Use of Delignit materials as a substitute for applications made of non-renewable raw materials improves the environmental balance of our customers' products and meets their increasing ecological requirements.

The Delignit Group's operating business is divided into two target markets:

Automotive target market:

The Automotive target market is divided into the product groups light commercial vehicles (LCV), motor caravans and passenger cars. The business activity focuses on the manufacture and sale of cargo bay protection systems and security systems (interior) for the LCV class. For example, these systems are used extensively by leading manufacturers of light commercial vehicles as original equipment (OEM) and retrofit equipment (after-sales) as cargo bay floors, walls and partition walls. Interior furnishings, such as cabinet systems, are supplied for the motor caravan sector. In the passenger car sector, for example, trunk covers are used by well-known OEMs.

Technological Applications target market:

The products of the Technological Applications target market are divided into the product groups Building Equipment, Compressed Wood, Railfloor and Special Applications. In the Building Equipment business, for example, flooring solutions for automotive manufacturing plants, and for goods distribution centres and beech multiplex assortments are supplied by the timber trade. The Compressed Wood business consists of highly-compressed and medium-compressed materials that are used for plant construction, machine construction and transformer construction applications. The Railfloor business provides manufacturers of rail vehicles with floor system solutions for fulfilment of international fire protection and sound insulation concepts. The Special business includes various special products for applications, such as model making, musical instruments and sports equipment.

Page 3 of 21 pages

Delignit Group at a glance Fiscal year (01.01. - 30.06.)

Earnings figures Revenue Total operating performance Cost of materials Staff costs Other operating expenses EBITDA EBITDA margin EBIT EBIT margin EBT EBT margin

Consolidated net income for the first half of the year

Number of shares

EPS in €

Statement of financial position figures

Non-current assets

Current assets

Cash and cash equivalents contained therein

Subscribed capital (share capital) Other equity Total equity Equity ratio Non-current liabilities and provisions Current liabilities and provisions Total assets

Net financial debt (net debt (-)/net cash (+))

Employees (reporting d30.06.)

Germany

2021

2020

2021 /

IFRS

IFRS

2020

€ thousand

€ thousand

%

36,327

25,633

41.7 %

37,776

25,472

48.3 %

-21,918

-14,026

56.3 %

-9,330

-7,792

19.7 %

-3,289

-2,077

58.4 %

3,239

1,577

105.4 %

8.6 %

6.2 %

2.4%*

2,071

269

669.9 %

5.5 %

1.1 %

4.4 %*

2,000

124

1,512.9 %

5.3 %

0.5 %

4.8 %*

1,411

48

2,839.6 %

8,193,900

8,193,900

0.0 %

0.17

0.01

2,839.6 %

€ thousand

€ thousand

%

17,294

19,603

-11.8 %

22,300

20,930

6.5 %

2,721

1,103

146.7 %

8,194

8,194

0.0 %

14,643

11,456

27.8 %

22,837

19,650

16.2 %

57.7 %

48.5 %

9.2 %*

5,721

7,375

-22.4 %

11,036

13,508

-18.3 %

39,594

40,533

-2.3 %

-4,185

-11,976

-65.1 %

390

380

2.6 %

*Change in percentage points, differences due to commercial rounding

Page 4 of 21 pages

Greetings from the Management Board

Dear shareholders,

Dear employees,

The Delignit Group set a new record for half-year revenue in the first half of 2021 despite a continued difficult market environment. After a drop in revenue on account of the pandemic at the start of last year, the markets began a clear recovery in the second half of 2020 that continued into the first six months of 2021. Consolidated revenue for the first half of the year therefore increased significantly by 41.7 % year-on-year to € 36.3 million. Earnings before interest, taxes, depreciation and amortisation (EBITDA), more than doubled, rising by

105.4 % year-on-year to € 3.2 million.

While last year was dominated by the COVID-19 pandemic, shortages of electronics components and associated plant closures at various OEMs caused corresponding production disruptions at our plants in the first half of 2021. While the supply disruption as a result were moderate compared to the previous year, nonetheless this caused us very particular planning challenges as these interruptions in production typically occur at very short notice and lead to not inconsiderable efficiency losses at our plants. As the demand on our end markets is very high at the same time, the advised call-off figures are at a level which is fulfilled by overtime and component purchases due to short reaction times. These necessary measures, in combination with spontaneous plant closures, are squeezing profitability. While the supply situation on the international semiconductor market is still fraught with considerable uncertainty, our key OEM customers are anticipating a gradual easing in the second half of 2021 and significant backlog effects from prior plant closures.

The development of the serial supply contract for the motor caravan market in particular proved positive and stable in the first six months of fiscal 2021. Driven by consistently strong customer demand, revenue increased significantly compared to the same period of the previous year.

We anticipate further impairments in the remaining fiscal 2021 due to the coronavirus pandemic and the ongoing shortage of electronics components. We are also monitoring developments on the international raw materials markets with all due caution, where a number of raw materials are being hit by steep price increases and supply shortages. Fortunately, the Group's main raw material, beech, is an exception to this development and remains relatively resilient in terms of price and availability. The occasional sharp shortage of freight availability and the associated price increases have also caused us challenges as an export-oriented company.

Page 5 of 21 pages

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Delignit AG published this content on 20 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 August 2021 05:23:05 UTC.


© Publicnow 2021
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Sales 2021 70,1 M 79,5 M 79,5 M
Net income 2021 2,50 M 2,84 M 2,84 M
Net cash 2021 0,70 M 0,79 M 0,79 M
P/E ratio 2021 33,5x
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Markus Büscher Chief Executive Officer
Gert-Maria Freimuth Chairman-Supervisory Board
Christof Nesemeier Member-Supervisory Board
Anton Breitkopf Vice Chairman-Supervisory Board
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