19 May 2021

Dialight plc

("Dialight" or the "Group")

AGM trading update - encouraging start to the year

Dialight plc (LSE: DIA.L), the global leader in sustainable LED lighting for industrial applications, is today issuing the following AGM trading update.

Current Trading and Outlook

While previously highlighted Covid-19 impacts continue, current trading is in line with management expectations, with orders ahead of expectations.  Our focus will continue to be on meeting our customer needs and thereby growing our revenues.  The Group's outlook for the year remains unchanged. 

For the longer term, the actions we took during 2020 mean we are strongly positioned to return to significant growth as the pandemic eases. The demand for more environmentally friendly lighting products is growing as the focus on net zero continues to gain momentum around the globe.

Financial position

We have mitigated against potential raw material shortages by increasing our inventory.  As a result, net debt at 30 April 2021 was £14.4 million compared to £11.4 million at 31 December 2020.

Interim results

The Group's interim results are expected to be published in early August 2021.

Contacts:

Dialight plc Tel: +44 (0)203 058 3542

Fariyal Khanbabi - Group Chief Executive

About Dialight:

Dialight (LSE: DIA.L) is a global leader in sustainable LED lighting for industrial applications. Dialight's LED products are providing the next generation of lighting solutions that deliver reduced energy consumption and create a safer working environment. Our products are specifically designed to provide superior operational performance, reliability and durability, reducing energy consumption and ongoing maintenance and achieving a rapid return on investment.

The company is headquartered in the UK, with operations in the USA, UK, Mexico, Malaysia, Singapore, Australia, Germany and Dubai. To find out more about Dialight, visit www.dialight.com.

Notes: 

1.   Cautionary Statement: This announcement contains certain statements, statistics and projections that are or may be forward-looking. The accuracy and completeness of all such statements, including, without limitation, statements regarding the future financial position, strategy, projected costs, plans and objectives for the management of future operations of Dialight plc and its subsidiaries is not warranted or guaranteed. These statements typically contain words such as 'intends', 'expects', 'anticipated', 'estimates' and words of similar import. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. Although Dialight plc believes that the expectations will prove to be correct. There are a number of factors, many of which are beyond the control of Dialight plc, which could cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements.