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Brief Report on Business Development in Fiscal Year 2021 and the Expectations for 2022

Diehl Holding

2021: On the way back to old strength – 2022: Sustainable products with strong demand provide for a high order volume

In the year under review 2021, which continued to be dominated by corona and its aftereffects, the Diehl Group's corporate sales rose to € 3,167.4 million and and thus were below previous year's value (€ 2,978.8 million) by € 188.6 million or 6.3 %. The turnover forecast on previous year's level was exceeded with this increase. The Diehl Group regained momentum and is on the way back to old strength with great energy. Diehl Metall mainly profited from increasing electromobility and therefore experienced a powerful growth impulse. At Controls the shortage of material led to massive material price increases and loss of sales. However, sales 2021 rose to a record level thanks to the significantly increased demand in the field of large household appliances. Defence continued its successful growth course. The order backlog of Metering has almost doubled in comparison to the previous year. The processing of the high order backlog remains challenging due to the shortage of materials. The aviation industry is slowly recovering from the corona low point. Despite the challenging framework conditions, Aviation was able to achieve almost all operational sales and income targets and set the course for the future thanks to the personnel downsizing program that has been carried out.

The generated EBIT is positive once again (€ 19.4 million after a negative EBIT of € -132.1 million in 2020). The relevant structural adjustments that debited the other operating expenses once only with € 100 million as provision in 2020 could be implemented as planned. The total number of employees decreased by 731 persons or 4.3%, to 16,135 employees. This decrease was attributable, in particular, to the reduction of workforce in the Aviation Corporate Division (-863), while a slight increase of jobs took place in different areas.

Outlook for 2022: A strong demand provides for a stable growth in all areas – uncertainties due to shortage of materials and a massive increase in energy prices

As an internationally positioned and broadly diversified company, Diehl withstood the crisis in a stable manner. Satisfying sales and a high order intake indicate that Diehl will quickly return to pre-corona times. Following the current sustainability megatrend, many companies set the course for business on future markets. This also applies for Diehl. Customer requirements are undergoing a radical change on a broad front and any company that wants to continue to count among the successful suppliers of technology and services needs to be ready to break new grounds. Diehl focuses even more on the company's core competences and resulting opportunities for the markets of the future to increasingly contribute to a sustainable progress of the society. Especially the electric energy turnaround offers great potential for Diehl as a company with traditionally deep expertise in the field of mechatronics. For Diehl, the electric car of the future, in particular, is the most interesting technological challenge during the past decades. The Diehl Group strives for moderately rising sales and a noticeable improvement of the earnings for 2022.

Diehl family increases its commitment within the company's Supervisory Board

As of September 2022, Konstantin Diehl, a further member of the entrepreneurial family Diehl, will join the Supervisory Board. Konstantin Diehl who has been active in the field of future technologies and logistics properties since the successful completion of his business studies in Munich, will represent the family branch Peter Diehl as its spokesperson within the Supervisory Board. Further members of the Supervisory Board, as has been the case until now, are Dr. Herbert Fehrecke (Chairman), Werner Diehl (Vice Chairman) and Markus Diehl as spokesperson of the family branch Dr. Thomas Diehl.

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