Hella Half-Year Report 2024
In the first half of the fiscal year 2024 (1 January to 30 June 2024), global production of passenger cars and light commercial vehicles remained largely at the level of the same period of the prior year and slowed down towards the end of the half-year in particular. According to the market research institute S&P Global, a total of 43.6 million new passenger cars and light commercial vehicles were manufactured in the first six months of the current year (S&P Global figures, as at July 2024). This corresponds to a modest decrease of 0.2% compared to the prior year (prior year: 43.7 million units), although in April S&P Global was still forecasting growth of 1.1% for the half-year as a whole. In the second quarter in particular, the market saw significantly worse developments than originally expected, with more than half a million fewer vehicles being produced in these three months alone than had been assumed in April.
Highlights
- 43.6 million new passenger cars and light commercial vehicles in the first half of 2024: global vehicle production develops weaker than initially forecast
- Sales increase on a currency-adjusted basis by 1.6% to €4,060 million and slightly by 0.9% to €4,030 million on a reported basis
- Operating income stands at €248 million; operating income margin slightly up on the prior-year level at 6.2%
- Net cash flow in relation to reported sales largely at the prior-year level at 2.1%
- Sales in the Lighting segment increase by 3.0% to€2,012 million due to the full consideration of the joint venture Beijing Hella BHAP Automotive Lighting
- Sales in the Electronics segment fall slightly by 1.7% to €1,663 million, mainly due to customer mix effects in the Chinese market and temporary slowdown in electrification in Europe
- Sales in the Lifecycle Solutions segment fall slightly by 2.6% to €537 million due to declining market volumes in key customer groups
