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EQS-News: HELLA GmbH & Co. KGaA / Key word(s): Quarter Results/Quarterly / Interim Statement
First quarter of 2024: FORVIA HELLA increases sales and maintains profitability at prior-year level; Company outlook
confirmed
2024-04-25 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
LIPPSTADT (GERMANY)
25 April 2024

First quarter of 2024:
FORVIA HELLA increases sales and maintains profitability at prior-year level; Company outlook confirmed
. Currency-adjusted sales increase by 2.2 percent to EUR2.0 billion;
reported growth of 0.6 percent
. Operating income of EUR111 million, operating income margin at 5.6 percent
. Sales growth driven by business group Lighting; Electronics and Lifecycle Solutions with slightly lower
sales
. Net cash flow in relation to reported sales is -2.6 percent after -1.9 percent in the previous year

HELLA GmbH & Co. KGaA ("FORVIA HELLA") today presented its full financial results for the first quarter of fiscal year
2024 (1 January to 31 March 2024). Adjusted for currency effects, sales improved by 2.2 percent to EUR2.0 billion
(previous year: EUR2.0 billion); reported sales growth was 0.6 percent. In the same period, global vehicle production
fell by 0.8 percent.
At EUR111 million, operating income in the first quarter of 2024 was at the previous year's level (previous year: EUR111
million), while the operating income margin also remained at 5.6 percent (previous year: 5.6 percent). Net cash flow in
relation to reported sales amounts to -2.6 percent (previous year: -1.9 percent).
"As we anticipated, the global automotive environment is slightly down in the first quarter, partly due to lower
production volumes in Europe and a temporary slowdown of electrification at the start of the year. Within these
framework conditions, we have achieved satisfactory results that are in line with our expectations," says Bernard
Schäferbarthold, CEO of FORVIA HELLA. "We were therefore once again able to demonstrate our adaptability and resilience
and to maintain our profitability at the previous year's level despite persistently high cost pressures. At the same
time, we were again able to win high-technology customer orders in fast-growing product areas."

Sales growth driven by business group Lighting; Electronics and Lifecycle Solutions with slightly lower sales
Sales development in the first quarter was driven by the business group Lighting, which achieved growth of 4.9 percent
to EUR1,002 million (previous year: EUR955 million). The main factor here was the full consolidation of the Chinese joint
venture Beijing Hella BHAP Automotive Lighting since the beginning of this year. In addition, the business group's
development was supported by business with electric vehicle manufacturers in Asia and America as well as by new
launches in the Americas.
In the Electronics business group, sales fell by 3.4 percent to EUR813 million (previous year: EUR842 million). The radar
business in particular continued to develop successfully. However, customer mix effects in Asia and Europe, a slower
ramp-up of electromobility in Europe at the beginning of the year and delays in individual new series launches had a
negative impact on sales development in Electronics.
In the Lifecycle Solutions business group, sales reduced by 1.7 percent to EUR278 million (previous year: EUR283 million).
The independent aftermarket in Europe, for example in the United Kingdom, Poland and Turkey, performed particularly
well. In contrast, lower investment activities by commercial vehicle manufacturers and a disproportionally high demand
in the workshop business in the prior year, which resulted from the market launch of a new particle counter, had a
negative impact.
Company outlook for the fiscal year 2024 confirmed
FORVIA HELLA confirms the Company outlook for the full fiscal year 2024 as part of the presentation of the quarterly
results. The Company continues to expect currency and portfolio-adjusted Group sales of between around EUR8.1 billion and
8.6 billion in 2024. The operating income margin is still forecast to be between around 6.0 and 7.0 percent. With
regard to the Group-wide net cash flow in relation to sales, FORVIA HELLA continues to forecast a figure of
approximately 3 percent.
Bernard Schäferbarthold, CEO of FORVIA HELLA: "We are assuming the global automotive production to be flat this year.
In this environment, we expect moderate improvements in the key performance indicators compared to the fiscal year
2023. New series projects and production ramp-ups will presumably support our sales development. Supported by cost
reduction actions underway, we expect improvements in the operating income margin and net cash flow in relation to
sales in the second half of the year."

Selected key financial figures in EUR million or as a percentage of reported sales for the first quarter of the fiscal
year (1 January to 31 March):

Fiscal year 2024 Fiscal year 2023         Change 
Adjusted sales                     2,033            1,990               +2.2% 
Reported sales                     2,002            1,990               +0.6% 
Operating income                    111              111                 0.0% 
Operating income                    5.6%             5.6%       0.0 percentage points 

in relation to reported sales

Net cash flow                       -51              -38                 -13 
Net cash flow                      -2.6%            -1.9%       -0.7 percentage points 

in relation to reported sales
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The financial statement for the first quarter of fiscal year 2024 is now available on the website of HELLA GmbH & Co. KGaA.

Note: You can also find this text and suitable images in our press database at: www.hella.com/press

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2024-04-25 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com

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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, DE000A3E5DP8 
WKN:          A13SX2, A3E5DP 
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: 1888753

End of News EQS News Service
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1888753 2024-04-25 CET/CEST

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April 25, 2024 01:00 ET (05:00 GMT)