HELLA GmbH & Co. KGaA: Adjustment of the company outlook for the current fiscal year

HELLA GmbH & Co KGaA ("FORVIA HELLA") has adjusted the company outlook for the fiscal year 2024 after analyzing current data: For the current year, currency and portfolio-adjusted sales of between around 7.9 and 8.1 billion euros (previously: in the lower half of the range of around 8.1 and 8.6 billion euros), an operating income margin of between around 5.5 and 6.0 percent (previously: in the lower half of the range of around 6.0 to 7.0 percent) and a net cash flow in relation to reported sales of between around 2.2 and 2.7 percent (previously: at approximately 3 percent) are now expected. The reasons for the reduction in the company's outlook are, on the one hand, the weaker than expected development in light vehicle production and, on the other hand, customer-related postponements in series launches, a temporary slowdown in electrification as well as customer and product mix effects particularly in China. The management board has decided to expand business activities in the American and Asian markets on the one hand. On the other hand, cost structures are to be further improved overall and the competitiveness program for Europe launched in February of this year is to be accelerated. The Company expects positive effects from this as early as 2025.