DGC released 2020 results with revenue/NPAT-MI jumping 23%/60% YoY, completing 99% and 104% of our forecasts, respectively. In Q4 2020 alone, sales advanced 9% YoY while NPAT-MI soared 40% YoY. Market share gains, favorable input prices and selling prices, expansion projects and cost-savings contributed to the elevated 2020 earnings.