Company / 23.09.2021
 
Company / 23.09.2021

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
09/23/2021
09/23/2021

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).
 
2021
 
 
 
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09/23/2021
Contact
Dr. Markus Richter
Company Spokesman
Rixbecker Str. 75
59552 Lippstadt, Germany
Tel.: +49 2941 38-7545
Fax: +49 2941 38-477545
Markus.xlgm@duynRichter@hella.com
 
09/20/2021