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HELLA Q1 EBIT Down; Confirms FY Outlook - Quick Facts

HELLA GmbH & Co. KGaA (HLKHF) reported that its earnings before interest and taxes or EBIT for the first quarter of fiscal year 2019/2020 declined to 111 million euros from 139 million euros in the prior year.

Adjusted earnings before interest and taxes for the quarter decreased to 113 million euros from 134 million euros in the previous year.

Quarterly currency and portfolio-adjusted sales fell by 5.5 percent to 1.6 billion euros from last year's 1.7 billion euros, due to the further decline of the automotive market. Consolidated sales also dropped by 12.1 percent as the result of portfolio changes.

"The industry is still facing a great deal of uncertainties and challenges. We still do not expect the market to recover. Quite the opposite: the global automotive industry will continue to weaken in the foreseeable future. Nevertheless, we are still on track to achieve our targets for the year at the present time," said Rolf Breidenbach, chief executive officer of the company.

For the current fiscal year 2019/2020, HELLA still expects currency and portfolio-adjusted sales to be in the range of 6.5 billion euros to 7.0 billion euros, and an EBIT margin adjusted for restructuring measures and portfolio effects of 6.5 percent to 7.5 percent.

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