02.04.2020 HELLA GmbH & Co. KGaA  DE000A13SX22

DGAP-News: HELLA GmbH & Co. KGaA: Solid business development in the nine-month period, consequences of the COVID 19 pandemic noticeably evident


DGAP-News: HELLA GmbH & Co. KGaA / Key word(s): 9 Month figures/9 Month figures
HELLA GmbH & Co. KGaA: Solid business development in the nine-month period, consequences of the COVID 19 pandemic noticeably evident

02.04.2020 / 07:00
The issuer is solely responsible for the content of this announcement.

Solid business development in the nine-month period, consequences of the COVID-19 pandemic noticeably evident

- Currency and portfolio-adjusted consolidated sales decrease by 3.7 percent to € 4.8 billion; adjusted earnings before interest and taxes fall to € 347 million; adjusted EBIT margin is at 7.2 percent

- Adjusted free cash flow from operating activities improves to € 191 million

- Automotive business burdened by coronavirus outbreak; Aftermarket with strong earnings development; business in Special Applications declines due to market weakness of individual customer groups

- Company outlook already adjusted due to the consequences of the COVID-19 pandemic

Lippstadt, 2 April 2020. Sales and earnings of the internationally positioned automotive supplier HELLA declined as expected in the first nine months of the fiscal year 2019/2020 (1 June 2019 to 29 February 2020) in a considerably negative market environment. Currency and portfolio-adjusted sales decreased by 3.7 percent to € 4.8 billion (previous year: € 5.0 billion); reported Group sales decreased by 6.2 percent due to portfolio changes. The adjusted earnings before interest and taxes (adjusted EBIT) fell to € 347 million (previous year: € 410 million); the adjusted EBIT margin was 7.2 percent (previous year: 8.2 percent). At the same time, adjusted free cash flow from operating activities improved significantly to € 191 million (previous year: € 169 million).

"In the third quarter, we have already been affected by the first impacts of the COVID-19 pandemic," said HELLA CEO Dr. Rolf Breidenbach. "From a nine-month perspective, however, we are still in line with our overall expectations. Above all, we have once again performed significantly better than the automotive market, which further confirms the strength and resilience of our business model."

Automotive business burdened by coronavirus outbreak

In the first nine months of the current fiscal year, global light vehicle production dropped by 7.6 percent. The consequences of the coronavirus outbreak in China at the beginning of the year contributed to this significant decline. In the same period, reported sales in the Automotive segment decreased by 2.5 percent to € 4.1 billion (previous year: € 4.2 billion). The fact that HELLA was able to distance itself so strongly from the general market trend is mainly due to the high demand for electronic products and the strong business development in the American market. The segment's earnings before interest and taxes (EBIT) fell to € 282 million due to the lower business volume and continued high investments in future automotive technologies (previous year: € 336 million). The EBIT margin is thus at 6.8 percent (previous year: 7.9 percent).

Aftermarket with strong earnings development

Reported sales of the Aftermarket segment declined by 1.7 percent to € 464 million in the nine-month period (previous year: € 472 million). Although the independent aftermarket business recovered in individual target markets in the third quarter and thus led to a sales increase, demand for spare parts was significantly lower overall, particularly in southwestern Europe and the Middle East. In addition, business with workshop equipment declined compared with the same period last year, which was characterized by an extraordinary upswing in demand due to the introduction of new regulatory requirements. In contrast, the segment's EBIT improved significantly by 10.8 percent to € 43 million due to cost savings and product mix effects (previous year: € 39 million). As a result, the EBIT margin rose to 9.4 percent (previous year: 8.3 percent).

Business in Special Applications declines due to market weakness of individual customer groups

Business development in the Special Applications segment was impacted in the nine-month period, particularly due to the continuing weakness of the market for agricultural and construction machinery as well as trailers. Consequently, reported segment sales declined by 8.7 percent to € 272 million (previous year: € 298 million). As a result of lower sales and increased investments in the expansion of the electronics portfolio, the EBIT of the segment was reduced to € 24 million (previous year: € 37 million). The EBIT margin thus fell to 8.9 percent (previous year: 12.4 percent).


Company outlook already adjusted due to the consequences of the COVID-19 pandemic

In view of the continuing spread of the COVID-19 pandemic and the related impact on the global automotive industry, HELLA had already announced on 18 March 2020 that its company targets for the current fiscal year 2019/2020 are not to be achieved. Due to declining customer demand and possible disruptions in logistics chains, the Company now expects currency and portfolio-adjusted sales to be below the originally forecasted range of around € 6.5 billion to € 7.0 billion. As there is currently only limited visibility regarding the consequences of the COVID-19 pandemic, it is not possible to estimate the amount more accurately at this time. Depending on the development and duration of the loss of business, also the EBIT margin adjusted for restructuring measures and portfolio effects is estimated to fall considerably below the originally forecasted target of 6.5 percent to 7.5 percent.

"The COVID-19 pandemic is an enormous challenge for the entire automotive industry. Nevertheless, I am confident that we are well equipped to successfully overcome the crisis. For instance, we have a strong balance sheet with high liquidity. At the same time, we began early on to adjust our employment and cost structures to the current situation," said Dr. Rolf Breidenbach. "Beyond that, our strategy remains intact. With our global network, our balanced customer portfolio and our technological strength, we are still well positioned for the automotive future in the long term."


Selected key financial figures in € millions or as a percentage of sales for the first nine months (1 June 2019 to 29 February 2020):

  Fiscal year
Fiscal year
currency and portfolio-adjusted
4,807 4,991 -3.7%
4,848 5,169 -6.2%
Adjusted earnings before interest and taxes
(adjusted EBIT)
347 410 -15.3%
Earnings before interest and taxes (EBIT) 312 649 -51.9%
Adjusted EBIT margin 7.2% 8.2% -1.0 pp
EBIT margin 6.4% 12.6% -6.1 pp

Where sums and percentages have been rounded, differences may arise as a result of commercial rounding. The balance sheet date for the previous year is 28 February 2019.

The financial statement on the first nine months of fiscal year 2019/2020 is now available for download from the HELLA GmbH & Co. KGaA website.


Please note:
This text and corresponding photo material can also be found in our press database at:

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 € 7.0 billion in the fiscal year 2018/2019 and 39,000 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
Rixbecker Straße 75
59552 Lippstadt
Phone: +49 (0)2941 38-7545
Fax: +49 (0)2941 38-477545
[email protected]

02.04.2020 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.

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
Phone: +49 (0)2941 38-7125
Fax: +49 (0)2941 38-6647
E-mail: [email protected]
Internet: www.hella.de/ir
ISIN: DE000A13SX22
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: 1012813

End of News DGAP News Service

1012813  02.04.2020 


Die wichtigsten Finanzdaten auf einen Blick
  2015 2016 2017 2018 2019 2020 2021e
Umsatzerlöse1 6.351,89 6.584,75 7.060,34 6.989,98 5.829,42 6.379,73 6.260,00
EBITDA1,2 816,00 919,14 1.017,94 1.190,78 575,57 894,10 800,00
EBITDA-Marge3 12,85 13,96 14,42 17,04 9,87 14,01 12,78
EBIT1,4 419,79 507,17 574,29 807,54 -343,01 453,62 382,00
EBIT-Marge5 6,61 7,70 8,13 11,55 -5,88 7,11 6,10
Jahresüberschuss1 271,86 343,11 390,05 630,41 -431,67 359,95 290,00
Netto-Marge6 4,28 5,21 5,52 9,02 -7,41 5,64 4,63
Cashflow1,7 602,15 712,52 825,85 758,96 635,80 703,83 0,00
Ergebnis je Aktie8 2,42 3,08 3,50 5,67 -3,88 3,22 2,60
Dividende8 0,77 0,92 1,05 3,35 0,00 0,96 0,96
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2020 - 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

WKN Kurs in € Einschätzung Börsenwert in Mio. €
A13SX2 59,620 Halten 6.624,44
KGV 2022e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
16,79 14,42 1,16 24,86
2,82 9,41 1,04 7,22
Dividende '20 in € Dividende '21e in € Div.-Rendite '21e
in %
0,96 0,96 1,61 30.09.2021
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
24.09.2020 14.01.2021 14.04.2021 19.08.2021
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-1,67% 8,03% 12,70% 42,16%
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu HELLA GmbH & Co. KGaA  ISIN: DE000A13SX22 können Sie bei DGAP abrufen

Automobilzulieferer , A13SX2 , HLE , XETR:HLE