Dialight plc
New segmental reporting format
Dialight plc ("Dialight" or "the Group"), the leading LED lighting technology company, today announces a change to its disclosure of Group operating segments, in line with the 2015 Strategic Review.
The Group has set out a strategy to transform and rebuild the business with clear objectives to deliver sustainable, profitable growth. As a result, Dialight is focusing on growth opportunities within LED lighting, building on its differentiated and market-leading position in Lighting and Obstruction. These businesses are now reported as one segment, named Lighting.
The Group's traffic, transport and components businesses operate in high volume, highly competitive markets where there is significant competition. These will be reported under one segment named Signals and Components and will be managed for value.
For the purposes of comparison, the Group is today publishing its segmental results for 2014 and 2013 ahead of the announcement of the Group's Preliminary Results on 8 March 2016. The disclosure is unaudited although the data has been extracted from the relevant audited reports and accounts.
The definitions of cost of sales, gross profit, distribution and administrative expenses have been changed for 2015 reporting. Cost of sales previously included costs related to third party sales costs, operations management and development & engineering. The third party sales costs are now included in distribution costs and the operations management and development costs are included in administrative expenses, both of which are part of the overhead costs.
Full year results:
2014 |
Lighting £m |
Signals and Components £m |
Total £m |
Revenue |
116.9 |
42.9 |
159.8 |
Gross profit |
50.8 |
9.8 |
60.6 |
Overheads |
(35.4) |
(4.3) |
(39.7) |
Segment results |
15.4 |
5.5 |
20.9 |
Central overheads |
|
|
(2.8) |
Group underlying EBIT |
|
|
18.1 |
2013 |
Lighting £m |
Signals and Components £m |
Total £m |
Revenue |
83.0 |
48.2 |
131.2 |
Gross profit |
40.0 |
9.6 |
49.6 |
Overheads |
(27.9) |
(3.7) |
(31.6) |
Segment results |
12.1 |
5.9 |
18.0 |
Central overheads |
|
|
(3.5) |
Group underlying EBIT |
|
|
14.5 |
Half year results:
H1 2015 |
Lighting £m |
Signals and Components £m |
Total £m |
Revenue |
60.8 |
19.8 |
80.6 |
Gross profit |
23.6 |
3.5 |
27.1 |
Overheads |
(21.4) |
(2.4) |
(23.8) |
Segment results |
2.2 |
1.1 |
3.3 |
Central overheads |
|
|
(1.6) |
Group underlying EBIT |
|
|
1.7 |
H1 2014 |
Lighting £m |
Signals and Components £m |
Total £m |
Revenue |
49.3 |
21.6 |
70.9 |
Gross profit |
22.9 |
4.0 |
26.9 |
Overheads |
(17.2) |
(1.6) |
(18.8) |
Segment results |
5.7 |
2.4 |
8.1 |
Central overheads |
|
|
(1.6) |
Group underlying EBIT |
|
|
6.5 |
H1 2013 |
Lighting £m |
Signals and Components £m |
Total £m |
Revenue |
35.3 |
24.6 |
59.9 |
Gross profit |
18.4 |
4.2 |
22.6 |
Overheads |
(13.9) |
(1.7) |
(15.6) |
Segment results |
4.5 |
2.5 |
7.0 |
Central overheads |
|
|
(1.5) |
Group underlying EBIT |
|
|
5.5 |
Contacts:
Dialight PLC
Michael Sutsko - Group Chief Executive
Tel: +44 (0)1638 778641
Fariyal Khanbabi - Group Finance Director
Tel: +44 (0)1638 778641
Investor Relations
Clara Melia - Origin IR
Tel: +44 (0)7748 171236
MHP Communications
Tim Rowntree / Jamie Ricketts / Tom Horsman
Tel: +44 (0)20 3128 8100
About Dialight
Dialight (LSE: DIA.L) is leading the energy efficient LED lighting revolution around the world for industrial and hazardous applications. Dialight is committed to the continuing development of LED lighting solutions that enable our customers to lower their energy usage and carbon dioxide emissions, reduce maintenance requirements and improve safety.
The company is headquartered in the UK with operations in the USA, UK, Denmark, Germany, Malaysia, Singapore, Australia, Mexico and Brazil. www.dialight.com
