Hella GmBH Q1 Report 2024

Decline in production volumes in Europe, Asia also down slightly; stagnating market in America

The global automotive environment has weakened in the first quarter of the fiscal year 2024 (1 January to 31 March 2024). According to the data published by the market research institute S&P Global Mobility in its latest Light Vehicle Production Forecast (as of 17 April 2024), global production of passenger cars and light commercial vehicles has now fallen by 0.8% to 21.2 million units in the first quarter of 2024 (prior year: 21.4 million units), while the prior year was still characterized by considerable catch- up effects. In the same quarter of the prior year, global automotive production increased by 7.2%.

Highlights

• Global light vehicle production decreases by 0.8% in the first quarter of fiscal year 2024
• Currency and portfolio-adjusted sales improve by 2.2% to €2,033 million; reported sales increase slightly by 0.6% to €2,002 million
• Growth driven by Lighting business group; slight decline in sales in Electronics and Lifecycle Solutions
• Operating income at €111 million, operating income margin is at 5.6%; both figures at the prior-year level
• Net cash flow in relation to reported sales is -2.6%, after -1.9% in the previous year
• Company outlook for the fiscal year 2024 confirmed