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DGL GROUP LIMITED — Capital/Financing Update 2023
Jun 14, 2023
64770_rns_2023-06-14_0fabc75e-9f47-4323-b38d-7cb086345c44.pdf
Capital/Financing Update
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DGL Group Ltd Level 4, 91 William Street Melbourne, VIC 3000 Melbourne, Australia e [email protected]
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ASX RELEASE
15 June 2023
FY23 Trading Update
DGL Group Limited (DGL Group or The Company) (ASX: DGL) provides the following trading update and guidance for FY23.
The Company previously reported forecast underlying EBITDA for FY23 to be in the range of $71.5 – $73.5million and now revises this estimate to $64 - $66million.
DGL Group has met its revenue forecast to date, with FY23 revenue expected to exceed $450million. However, cost increases inside our operations have eroded margins, particularly within the Environmental division and is the main driver of the revised guidance.
Cash conversion remains strong and above guidance at close to 100% and inventory levels have normalised from the highs recorded during FY22.
DGL CEO, Simon Henry, noted “the management team has further intensified its focus on all controllable costs. Notwithstanding the challenges caused by these cost increases, the Company continues to experience strong demand for its products and services”.
Approved for release by the Board of DGL.
CONTACT
Investor and media relations
Barbara Furci DGL Group Limited +64 9 309 9254 or [email protected]
ABOUT DGL GROUP LIMITED
DGL is a well-established, founder-led, diversified industrial group, specialising in the manufacture, transport, storage of chemicals and processing of hazardous waste.