EQS-News

First quarter of 2024: FORVIA HELLA increases sales and maintains profitability at prior-year level; Company outlook confirmed

EQS-News: HELLA GmbH & Co. KGaA / Key word(s): Quarter Results/Quarterly / Interim Statement First quarter of 2024: FORVIA HELLA increases sales and maintains profitability at prior-year level; Company outlook confirmed 25.04.2024 / 07:00 CET/CEST The issuer is solely responsible for the content of this announcement. LIPPSTADT (GERMANY)

25 April 2024

 
First quarter of 2024:
FORVIA HELLA increases sales and maintains profitability at prior-year level; Company outlook confirmed        

• Currency-adjusted sales increase by 2.2 percent to €2.0 billion;
  reported growth of 0.6 percent
• Operating income of €111 million, operating income margin at 5.6 percent
• Sales growth driven by business group Lighting; Electronics and Lifecycle Solutions with slightly lower sales
• Net cash flow in relation to reported sales is -2.6 percent after -1.9 percent in the previous year

HELLA GmbH & Co. KGaA ("FORVIA HELLA") today presented its full financial results for the first quarter of fiscal year 2024 (1 January to 31 March 2024). Adjusted for currency effects, sales improved by 2.2 percent to €2.0 billion (previous year: €2.0 billion); reported sales growth was 0.6 percent. In the same period, global vehicle production fell by 0.8 percent.

At €111 million, operating income in the first quarter of 2024 was at the previous year's level (previous year: €111 million), while the operating income margin also remained at 5.6 percent (previous year: 5.6 percent). Net cash flow in relation to reported sales amounts to -2.6 percent (previous year: -1.9 percent).

"As we anticipated, the global automotive environment is slightly down in the first quarter, partly due to lower production volumes in Europe and a temporary slowdown of electrification at the start of the year. Within these framework conditions, we have achieved satisfactory results that are in line with our expectations," says Bernard Schäferbarthold, CEO of FORVIA HELLA. "We were therefore once again able to demonstrate our adaptability and resilience and to maintain our profitability at the previous year's level despite persistently high cost pressures. At the same time, we were again able to win high-technology customer orders in fast-growing product areas."