12.01.2017
HELLA KGaA Hueck & Co. DE000A13SX22
DGAP-News: HELLA increases sales and earnings in the first half year
DGAP-News: HELLA KGaA Hueck & Co. / Key word(s): Half Year Results
HELLA increases sales and earnings in the first half year
12.01.2017 / 07:00
The issuer is solely responsible for the content of this announcement.
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HELLA increases sales and earnings in the first half year
- Consolidated sales increase to EUR 3.2 billion: +2.4 percent after
adjustment for currency and portfolio effects (reported +1.2 percent)
- Adjusted earnings before interest and taxes (adjusted EBIT) grow by 4.9
percent to EUR 268 million
- Adjusted EBIT margin improves by 0.3 percentage points to 8.4 percent
- Full-year sales and earnings guidance confirmed
- Dr Werner Benade appointed new managing director of the business
division Aftermarket and Special Applications effective 1 April 2017
Lippstadt, 12 January 2017. HELLA KGaA Hueck & Co., a globally leading
supplier of lighting technology and electronic products for the automotive
industry, further improved sales and earnings over the first six months (1
June to 30 November 2016) of this fiscal year 2016/2017. Sales increased by
1.2 percent to EUR 3.2 billion. Adjusted for currency and portfolio effects
(disposal of the Industries and Airport Lighting business), sales in the
first half year grew by 2.4 percent. Over the same period, earnings before
interest and taxes adjusted for special effects (adjusted EBIT) increased
by 4.9 percent to EUR 268 million (previous year: EUR 256 million); the
adjusted EBIT margin improved accordingly to 8.4 percent (previous year:
8.1 percent). Not taking into account special effects, EBIT increased by
20.9 percent to EUR 245 million, producing an increase of the EBIT margin
by 1.3 percentage points to 7.7 percent.
"We are delighted with our earnings performance. Major contributions have
come particularly from operational improvements in our Eastern European
plants," says Dr Rolf Breidenbach, CEO of HELLA. "Sales in the first half
have been driven mainly by our Aftermarket segment. Our Automotive business
reported rather modest growth in the first half ahead of upcoming new
production ramp-ups. In view of these new projects, we however expect that
the segment will pick up growth momentum again."
Automotive segment with significant profitability gains
External sales in the first half of fiscal year 2016/2017 grew by 0.6
percent to EUR 2.41 billion in the Automotive segment (previous year: EUR
2.39 billion). The modest growth of sales compared to the prior-year period
is to be seen in the context of new production ramp-ups in the segment. The
sales growth is mainly attributable to a high demand for electronics
solutions, such as products for energy management, as well as to a positive
business performance in the Chinese and NAFTA markets. The profitability of
the segment increased significantly over the first half: Compared to the
adjusted EBIT of the previous year, EBIT rose by 11.2 percent to EUR 227
million, which corresponds to an EBIT margin of 9.4 percent (previous year:
adjusted 8.5 percent). Unadjusted for special effects in the previous year,
earnings before interest and taxes in the Automotive segment increased by
44.5 percent, which translates into an increase in the EBIT margin to 9.4
percent (previous year: 6.5 percent).
Continued growth in the Aftermarket business
The Aftermarket segment continued its upwards trend and made a significant
contribution to consolidated sales growth. External segment sales increased
by 5.4 percent to EUR 629 million over the first six months of the
financial year (previous year: EUR 597 million). A significant 11.1 percent
EBIT increase to EUR 42 million (previous year: EUR 37 million) pushed the
EBIT margin up to 6.4 percent (previous year: 6.0 percent). The segment
benefited particularly from the positive development of the wholesale
business and the activities with innovative workshop equipment.
Special Applications segment in consolidation phase
The disposal of the Industries and Airport Lighting business activities in
the previous financial year and the weak demand for agricultural machinery
on the back of the difficult market environment in the agricultural sector
meant that sales of the Special Applications segment fell by 5.0 percent to
EUR 146 million (previous year: EUR 154 million) in the first half.
Adjusted for the portfolio optimisation, external sales in the remaining
businesses declined only slightly by 0.3 percent. The segment's operating
earnings (EBIT) decreased to EUR 0.6 million (previous year: EUR 9.8
million), mainly due to the wind-down of the divested business areas and
the relocation of production capacities to Eastern Europe. The EBIT margin
fell accordingly to 0.4 percent (previous year: 6.3 percent).
Outlook remains positive
Six months into financial year 2016/2017, HELLA Group remains confident
that the business will continue to grow. HELLA continues to project a
currency and portfolio-adjusted sales growth as well as a rise in the
adjusted EBIT in the mid-single-digit percentage range and an adjusted EBIT
margin at the prior-year level for financial year 2016/2017.
Dr Werner Benade will become new managing director of the Aftermarket and
Special Applications business
The shareholder committee of HELLA KGaA Hueck & Co. appointed Dr Werner
Benade (53) as new managing director of the business division Aftermarket
and Special Applications. Werner Benade, who has a PhD in mechanical
engineering, currently heads the Power Tool business unit Accessories of
Swiss-based Scintilla AG, a subsidiary of Bosch Group. He will commence in
his new role on 1 April 2017. Until then, Dr Rolf Breidenbach, CEO of
HELLA, will continue to head the business division.
Selected financials (in EUR million or percent of sales respectively):
H1 H1 Change 2016/2017 2015/2016 Sales 3,198 3,159 +1.2% Adjusted earnings before interest and taxes 268 256 +4.9% (adj. EBIT) Earnings before interest and taxes (EBIT) 245 203 +20.9% Adjusted EBIT margin 8.4% 8.1% +0.3ppts EBIT margin 7.7% 6.4% +1.3pptsPlease note that where sums and percentages have been rounded, differences may arise as a result of commercial rounding. The half-yearly report for the first six months of financial year 2016/2017 is available for downloading from today on the website of HELLA KGaA Hueck & Co. Please note: This text and matching pictures are also available from our press database on: www.hella.com/press HELLA KGaA Hueck & Co., Lippstadt: HELLA is a global, family-owned company, listed on the stock exchange, with approx. 35,000 employees at over 125 locations in some 35 countries. The HELLA Group develops and manufactures lighting technology and electronic components and systems for the automotive industry and also has one of the largest retail organizations for automotive parts, accessories, diagnostics, and services within Europe. Complete vehicle modules, air-conditioning systems, and vehicle electrical systems are also produced in joint venture companies. With more than 6,000 people working in research and development, HELLA is one of the most important innovation drivers on the market. In addition, with sales of EUR 6.4 billion in fiscal year 2015/2016, the HELLA Group is one of the top 40 automotive suppliers in the world and one of the 100 largest German industrial companies. For more information: Dr Markus Richter Company spokesperson HELLA KGaA Hueck & Co. Rixbecker Straße 75 59552 Lippstadt Germany Tel.: +49 (0)2941 38-7545 Fax: +49 (0)2941 38-477545 [email protected] www.hella.com --------------------------------------------------------------------------- 12.01.2017 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 KGaA Hueck & Co. Rixbecker Str. 75 59552 Lippstadt Germany Phone: +49 (0)2941 38-7125 Fax: +49 (0)2941 38-6647 E-mail: [email protected] 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; Luxemburg End of News DGAP News Service --------------------------------------------------------------------------- 535683 12.01.2017
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