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HELLA GmbH & Co. KGaA: Outlook is lowered due to significantly reduced market expectations

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DGAP-News: HELLA GmbH & Co. KGaA / Key word(s): Profit Warning/Quarter Results
23.09.2021 / 11:06
The issuer is solely responsible for the content of this announcement.

HELLA outperformed the market in the first quarter, but the company's outlook is lowered due to significantly reduced market expectations for the current fiscal year

- Group sales grow by 9.5 percent to € 1.5 billion in the first fiscal quarter on a preliminary basis; adjusted EBIT rise to € 91 million; adjusted EBIT margin is at 6.2 percent

- Significant decline in global vehicle production forecast as a result of further worsening market bottlenecks; no recovery expected in the second half of the fiscal year

- Sales and earnings forecast lowered against the background of significantly reduced market expectations for the current fiscal year 2021/2022

Lippstadt, 23 September 2021. The internationally positioned automotive supplier HELLA outperformed the market in the first quarter of the fiscal year. Nevertheless, the company's outlook for the current fiscal year 2021/2022 is lowered due to significantly reduced market expectations as a result of further worsening supply bottlenecks, particularly for electronic components. In the first three months of the fiscal year 2021/2022 (1 June to 31 August 2021), HELLA achieved a 9.5 percent increase in sales adjusted for currency and portfolio effects to € 1.5 billion (previous year: € 1.3 billion), based on preliminary figures. Adjusted earnings before interest and taxes (adjusted EBIT) improved to € 91 million in this period (previous year: € 56 million); adjusted EBIT margin was 6.2 percent (previous year: 4.2 percent).

"Even though we again outperformed the market in the first three months, the start of the new fiscal year was very challenging", says HELLA CEO Dr. Rolf Breidenbach. "Despite full order books, we are increasingly feeling the effects of bottlenecks in global supply and logistics chains, particularly with regard to certain electronic components. Due to pandemic-related production shutdowns at some chip suppliers in Asia, the situation has worsened in recent weeks. As a result, a significant decline in global vehicle production is expected according to the latest forecasts. In addition, the burdens on the cost side are also increasing, due among other things to further rises in material and raw material prices."

The latest market forecasts from renowned industry service providers and market analysts now predict that global vehicle production will decline by more than eight percent in the current fiscal year 2021/2022 (1 June 2021 to 31 May 2022). In July 2021, growth of almost four percent was still expected. In view of this significant downward correction, HELLA has lowered its forecast for the fiscal year 2021/2022 accordingly. For this period, the company now expects sales adjusted for currency and portfolio effects in the range of around € 6.0 to 6.5 billion (previously: around € 6.6 to 6.9 billion) and an EBIT margin adjusted for structural measures and portfolio effects of around 5.0 to 7.0 percent (previously: around 8 percent).

"The adjusted forecast ranges reflect the high uncertainties in the market", says Dr. Rolf Breidenbach. "We will therefore continue to rigorously pursue our intensive cost management and maintain a close, ongoing exchange with our suppliers and customers in order to cushion the supply bottlenecks as far as possible. On this basis, and especially on the basis of our strong strategic positioning with regard to the key issues of the future such as electromobility, autonomous driving, and digital light, we are well placed to continue to outperform the market."

HELLA will publish the quarterly statement with the complete figures for the first quarter as planned on 28 September 2021. On this day, an explanatory conference call for analysts and investors will also take place in English at 2:00 p.m. (CET).


Please note: This text and corresponding photo material can also be found in our press database at: www.hella.com/press

HELLA GmbH & Co. KGaA, Lippstadt: HELLA is a global, family-owned company listed on the stock exchange, with over 125 locations in some 35 countries. With currency and portfolio-adjusted sales of € 6.5 billion in fiscal year 2020/2021 and more than 36,000 employees, HELLA is one of the world's leading automotive suppliers. HELLA specialises in innovative lighting systems and vehicle electronics and has been an important partner to the automotive industry and aftermarket for more than a century. Furthermore, in its Special Applications segment, HELLA develops, manufactures and sells lighting and electronic products for specialist vehicles.

For more information, please contact:
Dr. Markus Richter
Company spokesman
HELLA GmbH & Co. KGaA
Rixbecker Strasse 75
59552 Lippstadt
Germany
Phone: +49 (0)2941 38-7545
Fax: +49 (0)2941 38-477545
Markus.Richter@hella.com
www.hella.com


23.09.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

HELLA GmbH & Co. KGaA

Rixbecker Str. 75

59552 Lippstadt

Germany

Phone:

+49 (0)2941 38-7125

Fax:

+49 (0)2941 38-6647

E-mail:

Investor.Relations@hella.com

Internet:

www.hella.de/ir

ISIN:

DE000A13SX22

WKN:

A13SX2

Indices:

MDAX

Listed:

Regulated Market in Frankfurt (Prime Standard), Munich, Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Tradegate Exchange; Luxembourg Stock Exchange

EQS News ID:

1235546


 

End of News

DGAP News Service

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