Delignit - Further recovery anticipated in FY21

Delignit’s FY20 results exceeded company guidance due to the recovery in automotive segments in the second half of the year. Revenues declined 9% in FY20 with good growth of 3% in the second half. The normalised EBITDA margin increased 40bp, fuelled by lower ramp-up costs of the motor caravan order. Delignit’s FY21 guidance assumes at least 14% growth in revenues and >30% growth in normalised EBITDA. In the longer term, Delignit will benefit from expected growth in commercial vehicles, further geographical expansion and broadening of its product offering.