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First quarter of 2024: FORVIA HELLA increases sales and maintains profitability at prior-year level; Company outlook confirmed - Seite 2

 

Sales growth driven by business group Lighting; Electronics and Lifecycle Solutions with slightly lower sales

Sales development in the first quarter was driven by the business group Lighting, which achieved growth of 4.9 percent to €1,002 million (previous year: €955 million). The main factor here was the full consolidation of the Chinese joint venture Beijing Hella BHAP Automotive Lighting since the beginning of this year. In addition, the business group's development was supported by business with electric vehicle manufacturers in Asia and America as well as by new launches in the Americas.

In the Electronics business group, sales fell by 3.4 percent to €813 million (previous year: €842 million). The radar business in particular continued to develop successfully. However, customer mix effects in Asia and Europe, a slower ramp-up of electromobility in Europe at the beginning of the year and delays in individual new series launches had a negative impact on sales development in Electronics.

In the Lifecycle Solutions business group, sales reduced by 1.7 percent to €278 million (previous year: €283 million). The independent aftermarket in Europe, for example in the United Kingdom, Poland and Turkey, performed particularly well. In contrast, lower investment activities by commercial vehicle manufacturers and a disproportionally high demand in the workshop business in the prior year, which resulted from the market launch of a new particle counter, had a negative impact.

Company outlook for the fiscal year 2024 confirmed

FORVIA HELLA confirms the Company outlook for the full fiscal year 2024 as part of the presentation of the quarterly results. The Company continues to expect currency and portfolio-adjusted Group sales of between around €8.1 billion and 8.6 billion in 2024. The operating income margin is still forecast to be between around 6.0 and 7.0 percent. With regard to the Group-wide net cash flow in relation to sales, FORVIA HELLA continues to forecast a figure of approximately 3 percent.