Hella GmbH & Co. KGaA (HLE.DE), a German company focused on the automotive industry, on Friday reported a decline in net income for the first half, reflecting a fall in sales. In addition, Hella has reaffirmed its annual outlook.
For the six-month period to June 30, the company registered a net income of 70.3 million euros, less than 241.8 million euros in the same period last year. EBIT stood at 137.9 million euros as against the prior year's 317 million euros.
Operating profit was 237 million euros, less than 248 million euros a year ago.
Sales stood at 3.979 billion euros, down from the previous year's 4.030 billion euros.
In the Lighting business, sales declined to 1.9 billion euros from last year's 2 billion euros. This is due to the phase-out of various large-volume series projects, which had a negative impact on the Lighting business in China and American market.
In the Lifecycle Solutions segment, sales decreased to 501 million euros from last year's 537 million euros. This was mainly due to the continuing cautiousness to invest within the commercial vehicle business in connection with the weak economic environment.
Looking ahead, Hella has confirmed its outlook for fiscal 2025. The company continues to expect sales of around 7.6 billion euros to 8 billion euros, with an operating income margin of around 5.3% to 6%.
For fiscal 2024, the company had recorded sales of 8.025 billion euros.
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