FORVIA HELLA Reports Stable First Quarter Earnings for Fiscal Year 2024

FORVIA HELLA, a division of HELLA GmbH & Co. KGaA, reported a stable financial performance in the first quarter of the fiscal year 2024, with sales rising marginally and profitability maintained at the previous year's level. Adjusted for currency effects, the company's sales rose by 2.2% to €2.0 billion, although the reported growth was a modest 0.6%. Operating income maintained at €111 million, keeping the margin constant at 5.6%.

The slight increase in global sales was primarily driven by the Lighting business group, which recorded a growth of 4.9% to €1,002 million, aided by expansion in Asia and America and new launches in the Americas. However, sales in the Electronics and Lifecycle Solutions units experienced declines of 3.4% and 1.7%, respectively. The company confirmed its financial outlook for 2024, expecting currency and portfolio-adjusted Group sales between €8.1 billion and €8.6 billion and an operating income margin between 6.0% and 7.0%.

CEO Bernard Schäferbarthold commented on the results and outlook, highlighting the company's resilience in a challenging automotive market and expressing optimism for the fiscal year based on new series launches and ongoing cost reduction efforts. Despite a slight downturn in net cash flow, the company remains committed to returning to growth in the latter half of the year.