Hella Q1 Report 2023

Strong organic sales growth of +14.8%

Group reported sales growing +14.4%
Growth more than twice as high as the automotive market, outperforming 8.7%- points globally
High demand for core products and technologies

• Electronics growing 10.8% to €763m*
• Lighting growing 22.1% to €946m*
• LCS growing 12.8% to €280m*

Double-digit increase in Operating Income NCF with expected impact of seasonality

Operating Income up 10.3% at €111m, Operating Margin close to Q1 CY 2022 at 5.6%

• increased investments in R&D in order to realize the high order backlog
• price increases partially compensated mainly by consistent pass-through to customers

Net Cash Flow (-€38m, -1.9% to sales), impacted, as expected, by seasonality

• sales growth with strong increase in receivables
• significant investments with the start of projects