EQS-Adhoc

Delignit AG confirms new revenue and earnings record and provides outlook for 2024

EQS-Ad-hoc: Delignit AG / Key word(s): Annual Results/Forecast Delignit AG confirms new revenue and earnings record and provides outlook for 2024 19-March-2024 / 16:57 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Public disclosure of inside information in accordance with Article 17 MAR

Delignit AG confirms new revenue and earnings record and provides outlook for 2024

Blomberg, 19 March 2024. Delignit AG (ISIN DE000A0MZ4B0), a leading manufacturer of ecological, hardwood-based products and system solutions, has closed the 2023 financial year with a significant increase in revenue and earnings. Group revenues increased to € 86.1 million in the 2023 financial year, which corresponds to year-on-year growth of 14.2 % (previous year: € 75.4 million) and thus marks a new record in the company's history. Delignit AG was also able to meet expectations in terms of profitability with a significant increase in EBITDA to € 7.1 million (previous year: € 6.6 million). Consolidated net profit for the year (PAT) increased disproportionately by 16.8 % to € 3.2 million. Bank balances improved to € 10.4 million at the end of the year and the equity ratio amounted to a strong 76.0 % (previous year: 63.9 %). In view of the positive development in the past year, the Management Board recommends the distribution of a dividend of € 0.08 per dividend-bearing share for the 2023 financial year (previous year: € 0.05).

 

In line with the overall economic situation in Germany, the outlook for the Delignit Group is cautious and mixed. On the one hand, interest in ecological materials and system solutions remains high and can lead to concrete incoming orders with potentially high volumes against the backdrop of ambitious climate targets. On the other hand, the Delignit Group is seeing a clear downward trend in its lead markets at the start of 2024. Following a sharp decline in the caravan business in the second half of 2023, this trend is set to continue at the start of 2024. An improvement compared to the previous year's figures is not expected until the second half of the year. Delignit's core market of light commercial vehicles is also showing declining trends for the first time since the economic downturn in Europe. The backlog of orders from Delignit OEM customers appears to have been largely cleared. The market situation for passenger cars is more difficult and some plants are being closed for longer periods. The Delignit Group is pursuing a strategy of exploiting this unexpected market weakness to acquire additional series supply business, but also to win back market share in the area of Technological Applications. In particular, initial successes have already been achieved in the Technological Applications target market.