logo
Plus   Neg
Share
Email

HELLA HY Adj. EBIT Rises

HELLA GmbH & Co. KGaA (HLKHF), an automotive supplier of lighting and electronics, reported that its adjusted earnings before interest and taxes or adjusted EBIT for the first six months of the fiscal year 2018/2019 increased by 5.5 percent to 302 million euros from the prior year's 286 million euros.

Particularly in light of the divestment of the wholesale distribution business, the reported earnings before interest and taxes (EBIT) increased significantly to 537 million euros from 290 million euros last year.

The currency- and portfolio-adjusted consolidated sales rose by 7.3 percent. Taking into account exchange rate effects and the divestment of the wholesale distribution business, the reported sales increased by 2.8 percent to 3.6 billion euros from the previous year's 3.5 billion euros.

From the current perspective, the HELLA Group continues to anticipate positive business development for the current fiscal year 2018/2019 and confirmed its current company outlook.

"However, we assume that the market environment will continue to weaken in the months to come. This is primarily due to the significant decline in demand from the Chinese automotive market, volatility in conjunction with the new WLTP emission testing method, and uncertainty in the overall economic environment," said HELLA CEO Dr. Rolf Breidenbach.

Assuming that the automotive market will not suffer any additional weakening in the second half of the fiscal year, HELLA is currently expecting that the currency- and portfolio-adjusted sales growth will be at the lower end and the increase in earnings before interest and taxes adjusted by restructuring measures and portfolio effects (adjusted EBIT) will be in the lower half of the given forecast range from 5 to 10
percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of Biogen Inc. are falling almost 28 percent in Thursday's trading after the company and Japanese drugmaker Eisai Co. said they will discontinue two late-stage trials for their experimental Alzheimer's drug, Aducanumab. The two Phase 3 trials, ENGAGE and EMERGE, are multi-center, randomized, double-blind, placebo-controlled, parallel-group studies designed to evaluate Aducanumab. The European Union on Wednesday ordered Alphabet Inc.'s Google to pay an antitrust fine of 1.49 billion euros for abusing its dominant position in the online search advertising intermediation market by preventing competition. This is the third antitrust fine by the EU against Google and it represents 1.29 percent of the tech giant's turnover in 2018. Shares of BMW Group declined around 5 percent in German trading after the auto giant reported Wednesday weak profit in its fiscal year 2018, despite a 0.1 percent growth in Automotive revenues with higher deliveries. Looking ahead for fiscal 2019, the company expects Group profit before tax will be well below the previous year's level. BMW said it is confident of volume growth in Automotive unit.
Follow RTT