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HELLA GMBH & CO. KGAA

(HLE)
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HELLA GmbH & Co. KGaA: Preliminary key figures for the second financial quarter significantly below the previous year's level; adjustment of the company outlook for the current FY

11/29/2021 | 07:39am EST

DGAP-Ad-hoc: HELLA GmbH & Co. KGaA / Key word(s): Quarter Results/Change in Forecast
HELLA GmbH & Co. KGaA: Preliminary key figures for the second financial quarter significantly below the previous year's level; adjustment of the company outlook for the current FY

29-Nov-2021 / 13:36 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


HELLA GmbH & Co. KGaA: Preliminary key figures for the second financial quarter significantly below the previous year's level; adjustment of the company outlook for the current financial year

- Based on preliminary figures, group revenue declines by around 13 percent to 1.5 billion euros in the second quarter of the financial year

- Preliminary adjusted EBIT margin falls to around 4.0 percent in the second quarter

- Revenue and earnings forecast for the current financial year 2021/2022 is lowered further

Lippstadt, Germany, 29 November 2021. According to preliminary figures, currency and portfolio-adjusted sales of HELLA GmbH & Co. KGaA ("HELLA") in the second financial quarter (1 September to 30 November 2021) declined by around 13 percent to approximately 1.5 billion euros (previous year: 1.8 billion euros) due to ongoing supply bottlenecks for semiconductors and other components. The preliminary adjusted EBIT margin fell to around 4.0 percent in the second quarter (previous year: 12.1 percent) as a result of rising materials and logistics costs and increased production inefficiencies due to the bottleneck situation. Based on the first half of the financial year (1 June to 30 November 2021), Group sales adjusted for currency and portfolio effects will thus decrease by approximately 3 percent to around EUR 3.0 billion (previous year: EUR 3.1 billion) on a preliminary basis; the adjusted EBIT margin will be approximately 5.0 percent (previous year: 8.7 percent). The challenging market environment is impacting HELLA's Automotive segment in particular.

In view of the business performance to date, the expected lack of market recovery in the second half of the year and increasing cost burdens, the sales and earnings forecast for the current financial year is further lowered. For the 2021/2022 financial year (1 June 2021 to 31 May 2022), HELLA now expects currency and portfolio-adjusted sales in the range of approximately EUR 5.9 billion to EUR 6.2 billion (previously adjusted: approximately EUR 6.0 billion to EUR 6.5 billion) and an EBIT margin adjusted for structural and portfolio effects of approximately 3.5 percent to 5.0 percent (previously adjusted: approximately 5.0 percent to 7.0 percent). Particularly with a view to the third financial quarter, the company sees major challenges with lower production volumes as well as further increasing cost burdens in view of the ongoing materials and component crisis.

 

 


29-Nov-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


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: 1252552

 
End of Announcement DGAP News Service

1252552  29-Nov-2021 CET/CEST

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Mean consensus HOLD
Number of Analysts 10
Last Close Price 64,20 €
Average target price 61,11 €
Spread / Average Target -4,82%
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Rolf Breidenbach President, CEO, Head-Legal & Compliance
Ulric Bernard Schńferbarthold MD-Finance, Controlling & Information Technology
Klaus KŘhn Chairman-Supervisory Board
Felix Willing Chief Information Officer
Manuel Frenzel Independent Member-Supervisory Board
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