24.09.2020 HELLA GmbH & Co. KGaA  DE000A13SX22

DGAP-News: HELLA GmbH & Co. KGaA: HELLA begins new fiscal year better than expected


 

DGAP-News: HELLA GmbH & Co. KGaA / Key word(s): Quarter Results/Interim Report
HELLA GmbH & Co. KGaA: HELLA begins new fiscal year better than expected

24.09.2020 / 07:00
The issuer is solely responsible for the content of this announcement.


HELLA begins new fiscal year better than expected

- Covid-19 pandemic continues to hamper industry development; consolidated sales after currency and portfolio adjustments decrease in the first three months by 10.6 percent to € 1.4 billion

- Adjusted earnings before interest and taxes fall to € 56 million; adjusted EBIT margin is 4.2 percent

- The first quarter closes with a reported EBIT of minus € 115 million due to provisions for restructuring measures in Germany (€ 169 million)

- Automotive segment affected by drop in light vehicle production; Aftermarket with strong workshop business; Special Applications benefits from increased sales in the agricultural machinery business

- Outlook for the current fiscal year 2020/2021 confirmed

Lippstadt, 24 September 2020. Despite the continuing highly negative effects of the Covid-19 pandemic on the global automotive industry, global automotive supplier HELLA reported better than originally expected results for the first three months of fiscal year 2020/2021. The currency and portfolio-adjusted consolidated sales in the first quarter (1 June to 31 August 2020) dropped by 10.6 percent to € 1.4 billion (prior year: € 1.5 billion). The adjusted earnings before interest and taxes (adjusted EBIT) dropped to € 56 million (prior year: € 111 million). Correspondingly, the adjusted EBIT margin amounted to 4.2 percent (prior year: 7.3 percent). Due to provisions amounting to € 169 million taken into account in the first quarter for the long-term programme to increase competitiveness in Germany, the reported EBIT for this period is minus € 115 million (prior year: € 111 million). Correspondingly, the reported EBIT margin stands at minus 8.6 percent (prior year: 7.1 percent).

"As before, the environment for the entire automotive industry remains very challenging. Global light vehicle production continued to fall in the first three months of the new fiscal year, although not as significantly as first assumed," said HELLA CEO Dr. Rolf Breidenbach. "This is also reflected in our financial figures. In fact, we have performed better than we expected we would back at the beginning of the fiscal year. It is particularly encouraging that we remained operationally profitable in the first quarter despite the challenging market environment. This is not least due to our consistent cost management."

Automotive segment affected by drop in light vehicle production

Due to the lower passenger vehicle and light commercial vehicle production figures, sales in the Automotive segment fell by 12.6 percent to € 1.2 billion (prior year: € 1.3 billion). Nevertheless, the business has held up better than the market itself, particularly in Europe and America, and has also recovered considerably compared with the fourth quarter of the prior fiscal year. The EBIT of this segment has dropped to € 41 million (prior year: € 92 million), which equates to an EBIT margin of 3.5 percent (prior year: 6.9 percent). The main reason for this is the continued reduction in capacity utilisation.

Aftermarket with strong workshop business

In the first quarter of fiscal year 2020/2021, sales in the Aftermarket segment decreased by 6.7 percent to € 110 million (prior year: € 117 million). The key factor behind the drop in sales within the segment was, in particular, the lower demand in the independent aftermarket business caused by the Covid-19 pandemic. In contrast to this, business involving advanced workshop equipment has developed positively as workshops have recently begun to increase their investments again. The EBIT of this segment, at € 11 million, is at the same level as the prior year. The EBIT margin, due to the increased proportion of workshop products, has increased to 9.6 percent (prior year: 9.4 percent).

Special Applications benefits from increased sales in the agricultural machinery business

Sales in the Special Applications segment only saw a small drop in the first three months of the current fiscal year of 2.8 percent to € 75 million (prior year: € 77 million). While the market weakness continued to have a negative impact due to the Covid-19 pandemic, particularly in the bus and construction machinery business, increasing demand has been seen in the field of agricultural machinery equipment in particular. Due to an overall lower utilisation, product mix effects and higher development costs, the EBIT of this segment has reduced to € 7 million (prior year: € 9 million). Correspondingly, the EBIT margin is 9.0 percent (prior year: 11.4 percent).

Outlook for the current fiscal year 2020/2021 confirmed

After the performance of first three months, HELLA has confirmed the Company outlook for the current fiscal year (1 June 2020 to 31 May 2021). For this time period, HELLA expects currency and portfolio-adjusted sales to be in the range of € 5.6 billion to € 6.1 billion, and an adjusted EBIT margin in the range of 4.0 percent to 6.0 percent.

"The outlook for the coming months is relatively positive for us. The signs indicating a slight recovery in the market during the current fiscal year have intensified again recently," said Dr. Rolf Breidenbach. "Taking the continuing unforeseeable consequences of the global Covid-19 pandemic into consideration, there are still high levels of market uncertainty that could have an impact on the development of our business. We are, therefore, remaining with the previously stated outlook for the time being."

 

Selected key financial figures in € millions or as a percentage of sales for the first three months (1 June to 31 August):

  Fiscal year
2020/2021
Fiscal year
2019/2020
Change
Sales
currency and portfolio-adjusted
1,367 1,528 -10.6%
Sales
reported
1,344 1,570 -14.4%
Adjusted earnings before interest and taxes
(adjusted EBIT)
56 111 -49.2%
Earnings before interest and taxes (EBIT) -115 111 -203.8%
Adjusted EBIT margin 4.2% 7.3% -3.1 percentage points
EBIT margin -8.6% 7.1% -15.7 percentage points
 

Where sums and percentages have been rounded, differences may arise as a result of commercial rounding.

The financial statement on the first quarter of fiscal year 2020/2021 can now be downloaded from the website of HELLA GmbH & Co. KGaA.

Please note:
This text and corresponding photo material can also be found in our press database at:
www.hella.com/press

HELLA GmbH & Co. KGaA, Lippstadt: HELLA is a global, family-owned company, listed on the stock exchange, with over 125 locations in some 35 countries. With sales of € 5.8 billion in the fiscal year 2019/2020 and 36,000 employees, HELLA is one of the leading automotive suppliers. HELLA specialises in innovative lighting systems and vehicle electronics and has been an important partner to the automotive industry and aftermarket for more than a century. Furthermore, in its Special Applications segment, HELLA develops, manufactures and sells lighting and electronic products for specialist vehicles.


For more information, please contact:
Dr. Markus Richter
Company spokesman
HELLA GmbH & Co. KGaA
Rixbecker Strasse 75
59552 Lippstadt
Germany
Phone: +49 (0)2941 38-7545
Fax: +49 (0)2941 38-477545
Markus.Richter@hella.com
www.hella.com



24.09.2020 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.

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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
WKN: A13SX2
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: 1135911

 
End of News DGAP News Service

1135911  24.09.2020 

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Die wichtigsten Finanzdaten auf einen Blick
  2013 2014 2015 2016 2017 2018 2019 2020e
Umsatzerlöse1 5.343,33 5.834,69 6.351,89 6.584,75 7.060,34 6.989,98 5.829,42 5.840,00
EBITDA1,2 650,00 766,00 816,00 919,14 1.017,94 1.190,78 575,57 0,00
EBITDA-Marge3 12,16 13,13 12,85 13,96 14,42 17,04 9,87 0,00
EBIT1,4 341,06 429,50 419,79 507,17 574,29 807,54 -343,01 303,00
EBIT-Marge5 6,38 7,36 6,61 7,70 8,13 11,55 -5,88 5,19
Jahresüberschuss1 229,58 295,45 271,86 343,11 390,05 630,41 -431,67 0,00
Netto-Marge6 4,30 5,06 4,28 5,21 5,52 9,02 -7,41 0,00
Cashflow1,7 534,97 559,92 602,15 712,52 825,85 758,96 635,80 0,00
Ergebnis je Aktie8 2,07 2,70 2,42 3,08 3,50 5,67 -3,88 2,35
Dividende8 1,11 0,77 0,77 0,92 1,05 3,35 0,00 0,15
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2019 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: PricewaterhouseCoopers

INVESTOR-INFORMATIONEN
©boersengefluester.de
Hella
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A13SX2 38,180 Halten 4.242,22
KGV 2021e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
15,91 12,97 1,267 18,10
KBV KCV KUV EV/EBITDA
2,01 6,67 0,73 7,613
Dividende '19 in € Dividende '20e in € Div.-Rendite '19e
in %
Hauptversammlung
0,00 0,15 0,00 25.09.2020
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
24.09.2020 14.01.2020 02.04.2020 14.08.2020
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-9,67% 1,48% -22,62% -16,24%
    
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