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HELLA 9-month Adj. EBIT Increases; Confirms FY Outlook

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 nine months increased 5.6 percent to 417 million euros from 395 million euros last year. HELLA confirmed its company outlook for the current fiscal year after sales and earnings growth in the third quarter.

Earnings before interest and taxes (EBIT) for for the first nine month increased significantly in light of the divestment of the wholesale distribution business to 649 million euros from 404 million euros in the prior year.

The currency- and portfolio-adjusted sales rose by 6.2 percent in the reporting period. Taking into account exchange rate effects and the divestment of the wholesale distribution business, the reported sales increased by 0.8 percent to 5.2 billion euros from the previous year.

HELLA continues to anticipate a positive business development for the current fiscal year 2018/2019 and confirms the prior company outlook.

"Even though the fourth quarter will be very challenging for us, we are confirming our company outlook for the full fiscal year due to the good business performance in the first nine months," said Rolf Breidenbach.

Despite the further weakening of the market environment in the second half of the fiscal year, HELLA continues to proceed on the assumption that the currency- and portfolio-adjusted sales growth will be at the lower end of the given forecast range of 5 to 10%, and that the increase in adjusted earnings before interest and taxes (adjusted EBIT), adjusted for restructuring measures and portfolio effects, will be in the lower half of this range.

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