EQS-News

Fiscal year 2023: FORVIA HELLA increases sales and improves profitability

EQS-News: HELLA GmbH & Co. KGaA / Key word(s): Annual Report/Annual Results Fiscal year 2023: FORVIA HELLA increases sales and improves profitability 15.03.2024 / 07:00 CET/CEST The issuer is solely responsible for the content of this announcement. LIPPSTADT (GERMANY)

15 March 2024

 

Fiscal year 2023: FORVIA HELLA increases sales and improves profitability

• Currency-adjusted sales increase by 12.7 percent to €8.1 billion;
  operating income margin improves by two percentage points to 6.1 percent; net cash flow in relation to sales at 2.6 percent
• Company outlook for 2023 reached: adjusted sales, operating income margin and net cash flow in relation to sales within target corridors
• Lighting with high sales growth and significantly improved profitability;
  Electronics with good demand for solutions for automated driving and electrification; solid spare parts, workshop and commercial vehicle business
• Continuation of the established dividend policy: Dividend of €0.71 per share proposed
• Outlook for 2024: slight improvements in sales, earnings and net cash flow expected in a persistently volatile market environment

HELLA GmbH & Co. KGaA ("FORVIA HELLA") today published its annual report for fiscal year 2023 (1 January to 31 December 2023). The complete and final results confirmed the preliminary figures that the Company had already announced on 16 February 2024. Accordingly, Group-wide sales in the fiscal year 2023 increased by 12.7 percent to €8.1 billion on a currency-adjusted basis compared to the previous year. Taking exchange rate effects into account, reported sales improved by 10.3 percent to €8.0 billion (calendar year 2022: €7.2 billion¹). In the same period, global light vehicle production grew by 9.7 percent.

Operating income increased to €486 million (calendar year 2022: €295 million¹), while the operating income margin rose to 6.1 percent (calendar year 2022: 4.1 percent¹). Net cash flow in relation to sales amounts to 2.6 percent (calendar year 2022: 3.0 percent¹).

"In the fiscal year 2023, we achieved sales of €8 billion for the first time in the Company's history and at the same time significantly increased earnings again compared to the previous year. We have therefore fulfilled all our annual targets," says Bernard Schäferbarthold, CEO of FORVIA HELLA. "Nevertheless, the industry environment remains challenging and volatile. On the one hand, growth momentum has slowed down in some areas due to market conditions, particularly since the second half of the year. On the other, in terms of our profitability we are still well below the pre-corona level."