FORVIA HELLA Reports Slight Sales Growth in Q1 of Fiscal Year 2024

FORVIA HELLA announced a modest increase in sales for the first quarter of fiscal year 2024, achieving €2.0 billion, a 2.2 percent growth when adjusted for currency fluctuations. Despite a stagnant automotive market, the company's strategic initiatives and expansion in the lighting and radar sensor divisions appear to be paying off. Highlighting the contribution of series launches and production ramp-ups in bolstering sales figures, CEO Bernard Schäferbarthold remains optimistic about the company's trajectory for the remainder of the year.

Key growth was observed in the Lighting business group, which saw a 4.9 percent increase in sales to €1,002 million. This growth was largely driven by the consolidation of the Beijing Hella BHAP Automotive Lighting joint venture and burgeoning relationships with electric vehicle manufacturers in Asia and America. However, the Electronics and Lifecycle Solutions business groups faced declines due to various market and operational challenges, with particularly notable effects from customer mix in Asia and Europe and reluctance in the commercial vehicle sector's investment.