Delignit generates record half-year revenue and confirms outlook for 2021
Blomberg, 20 August 2021. Delignit AG (ISIN DE000A0MZ4B0), leading manufacturer of ecological, hardwood-based products and system solutions based in Blomberg, has set a new record for half-year revenue in a challenging market environment. In the first six months of the current fiscal year, consolidated revenue 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. In addition, earnings per share amounted to ? 0.17, exceeding the previous year's figure of ? 0.01 by ? 0.16.
Positive business performance was driven primarily by high call-off figures in light commercial vehicles and in the strongly growing motor caravan business. Significant growth rates were also achieved in the light commercial vehicle export business with North America. Management Board expects the positive demand situation to persist going forward. In the motor caravan business, for example, a considerable increase in unit numbers was recently achieved for an existing serial supply contract, which will likely be reflected in revenue and earnings as early as the second half of 2021. In the first half of the year profitability was adversely affected by shortages of electronics components and the resulting disruptions to major OEM customers' production. Plant closures by various automotive customers, typically at very short notice, resulted in major planning challenges and partially substantial efficiency losses in production. Although the supply situation on the international semiconductor market remains fraught with uncertainty, the major OEM customers from the Delignit Group expect a gradual stabilization in the second half of 2021 and significant catch-up effects. Additional pressure on profitability was exerted by the recently very dynamic development on the international procurement markets, where numerous raw materials experienced partly steep price increases and supply shortages. Fortunately, the Group's primary raw material, beech wood, represents an exception to this development and remained relatively resilient in terms of price and availability.
Against the backdrop of a positive market environment, a well-filled order book and the expectation of gradual improvement on the international semiconductor market, the Management Board remains optimistic about the future outlook and continues to expect a considerable increase in consolidated revenue to more than ? 67 million in fiscal 2021. Based on the assumption that increases in raw material prices can be successfully passed on to customers, the Management Board also sticks to the forecasted profitability of an EBITDA margin of at least 9 %.
The full half-year report is available from the Investor Relations section of the company's website at www.delignit.com.
About the Delignit Group:
The Delignit Group develops, produces and sells ecological materials and system solutions made of renewable raw materials under the brand name Delignit. As a recognised development, project and serial supplier of leading automotive groups, the Delignit Group is, among other things, world market leader for supplying the automotive industry with cargo bay protection and cargo securing systems for light commercial vehicles. With a variety of applications and a vertical integration that are unique in its industry, the Delignit Group serves numerous other technology sectors, for example as a worldwide system supplier of reputable rail vehicle manufacturers. Delignit solutions have exceptional technical properties and are also used, among other things, as trunk floors in passenger cars, interior equipment for motor caravans and special floors for factory and logistics buildings and to improve building security standards.
Delignit material is predominantly based on European hardwood, is CO2 neutral in its life cycle and therefore ecologically superior to non-regenerative materials. The use of the Delignit material therefore improves the environmental performance of customer products and meets their increasing ecological requirements. The company was founded over 200 years ago. Delignit AG is listed in the Scale segment of the Frankfurt Stock Exchange.
Further information is available online at www.delignit.com.
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