Lippstadt, September 06, 2018.
Moody's Investors Services (Moody's) has upgraded the rating of the lighting and electronics specialist HELLA to Baa1 with a stable outlook. The decisive factor for the increased rating was, among other things, the positive development of key financial indicators. The increased rating also takes into account the company's leadership in the fields of automotive lighting technology and electronics as well as the diversified business model with the segments Aftermarket and Special Applications.
"The upgrade by Moody's affirms our solid, well-balanced financial strategy," says HELLA CFO Bernard Schäferbarthold. "It has provided us with the necessary conditions for continuing to invest in future technologies and the expansion of our global network, to further expand HELLA's position as one of the leading automotive suppliers."
In the past fiscal year 2017/2018, HELLA continued to improve its financial position. For instance, the company's net financial debt was reduced considerably to 187 million EUR (previous year: 278 million EUR). Accordingly, its ratio to the reported earnings before interest, taxes, depreciation and amortization (EBITDA) as at the balance sheet date, May 31, 2018, was 0.2 (previous year: 0.3).