On Thursday, Hella presented figures for the first quarter of the 2020/2021 financial year. From June 1 to August 31, the turnover of the company from Lippstadt fell from 1.57 billion euros to 1.34 billion euros. The result has also come under pressure. Adjusted for special effects, earnings before interest and taxes have almost halved to 56 million euros. Including special effects, Hella even recorded a decline in earnings before interest and taxes from 226 million euros to a loss of 115 million euros. According to the company, the background is provisions for restructuring measures in Germany amounting to 169 million euros.
“The environment is still very challenging for the entire automotive industry. Global vehicle production continued to decline in the first three months of the new fiscal year, but not as significantly as initially assumed, ”says Rolf Breidenbach, CEO of HELLA. “This is also reflected in our figures. Overall, we performed better than expected at the beginning of the financial year. It is particularly gratifying that we remained operationally profitable in the first quarter despite the challenging market environment, which is not least due to our consistent cost management, ”said the manager.
For the entire 2020/2021 financial year, Hella continues to expect sales of between EUR 5.6 billion and EUR 6.1 billion. The adjusted EBIT margin should be in the range of 4.0 percent to 6.0 percent. “The signs of a certain market recovery in the course of the current financial year have recently intensified,” said Breidenbach.
At a glance – chart and news: Hella KGaA