Delignit AG / DE000A0MZ4B0

Delignit AG: Delignit AG updates its annual guidance in an increasingly tense market environment

EQS-Ad-hoc: Delignit AG / Key word(s): Forecast/Change in Forecast


18-Oct-2024 / 08:08 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.

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Blomberg, October 18, 2024. The Delignit AG (ISIN DE000A0MZ4B0), a leading manufacturer of ecological hardwood-based products and system solutions, is facing an increasingly tense market environment with significant weakness in demand for key OEM series supply contracts and is therefore adjusting its guidance for the 2024 financial year.

The expected improvement in demand over the course of the second half of the year is unlikely to be realized to the expected level. Once again, the motor caravan product area will be particularly affected, suffering a substantial unforeseen drop in sales as a major customer has temporarily suspended its production until the end of the year. In the light commercial vehicles market, too, the production volume increases announced by OEM customers for the fourth quarter are also likely not to be met, partly due to weak demand for electrified vehicle models and the delayed start-up of a new order acquired this year. In light of the downturn in demand, the Management Board now expects a lower revenue range of € 63 million to € 67 million for the 2024 financial year, compared to the initial guidance of € 75 million to € 80 million.

In order to adjust to the lower level of revenue, the Management Board immediately intensified the cost optimization programme initiated at the beginning of the year, in order to achieve significant savings in the areas of material and personnel costs as well as other operating expenses. As a result, the Management Board expects a profitability in the range of an EBITDA margin of 4 to 6%. The initial guidance still anticipated a profitability of 6 to 7% EBITDA margin.

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.

Made from European hardwood, the Delignit material is CO2-neutral throughout its entire life cycle, making it an environmentally friendly alternative to non-regenerative materials. Its use not only improves the ecological footprint of customers' products, but also enables them to meet increasingly stringent environmental sustainability requirements. With the "Boost Your Sustainability" initiative, the Delignit Group demonstrates its long-standing commitment to promoting environmental sustainability and responsibility. Discover more about this commitment at www.delignit-sustainability.de/ The company, which is listed in the Scale segment of the Frankfurt Stock Exchange, has been in existence for over 200 years.

Further information is available online at www.delignit.com.

Contact:
Delignit AG
Königswinkel 2-6
32825 Blomberg
Tel. [phone]
Fax [phone]
eMail: [e-mail]

End of Inside Information

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18-Oct-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language:	English
Company:	Delignit AG
	Königswinkel 2-6
	32825 Blomberg
	Germany
Phone:	+49 (0)5235 / 966-0
Fax:	+49 (0)5235 / 966-105
E-mail:	[e-mail]
Internet:	http://www.delignit.de
ISIN:	DE000A0MZ4B0
WKN:	A0MZ4B
Listed:	Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Stuttgart, Tradegate Exchange
EQS News ID:	2011097

End of Announcement	EQS News Service

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2011097  18-Oct-2024 CET/CEST