DGAP-News

HELLA KGaA Hueck & Co.: Strong sales growth in the first half year - Seite 2

producing an EBIT margin of 6.4 percent. The exceptional charges resulting
from the supplier default have thus essentially been assimilated and closed
out over the course of the fiscal year.

Automotive segment remains primary driver of growth

The 12.4 percent increase in revenue means that the automotive segment
remained the primary driver of growth within the Group. External revenue in
this segment increased to about 2.4 billion euros (previous year: 2.1
billion euros). An important factor here remains the consistent policy of
innovation, with a strong focus on automotive mega-trends such as energy
efficiency (CO2 reduction), safety and styling (LED technologies). In
addition, the unit's favorable regional presence also contributed to the
positive trend. HELLA generated an adjusted EBIT of 205 million euros with
an adjusted EBIT margin of 8.6 percent. Considering the exceptional charges
resulting from the supplier default, the EBIT stood at 157 million euros
(previous year: 185 million euros) and the EBIT margin at 6.6 percent
(previous year: 8.7 percent).

Aftermarket makes strong gains

The Aftermarket segment performed well during H1, leaving behind the weak
demand from the same period last year. External revenue in the first six
months of the current fiscal year grew by 9.0 percent to 597 million euros
(previous year: 547 million euros). Operating income thus increased by 4
million euros to 37 million euros. The EBIT margin increased to 6.3 percent
(previous year: 6.0 percent).

Special Applications turns the corner

The business development of the Special Applications segment was stabilized
due to the expansion of the focused product market strategy. Both revenue
and earnings in this sector increased slightly. The external segment
revenue increased in H1 of the current fiscal year by 2.2 percent to 154
million euros (previous year: 151 million euros). In the same period, EBIT
improved to 10 million euros (previous year: 9 million euros), with an EBIT
margin of 6.3 percent (previous year: 5.7 percent).

Strong financial basis for future growth

At the end of the initial six months of the current fiscal year, HELLA was
able to further strengthen its equity ratio, which now stands at 38.4
percent (previous year: 36.0 percent). The operating cash flow, before
payouts on restructurings and the one-off expense in connection with the
supplier default and the acquisition of investments, increased
significantly, to 85 million euros (previous year: negative 44 million