HELLA GmbH & Co. KGaA lowers sales and earnings forecast for the current fiscal year due to significantly reduced market expectations for global vehicle production

HELLA GmbH & Co. KGaA lowers sales and earnings forecast for the current fiscal year due to significantly reduced market expectations for global vehicle production

- Significant decline in global vehicle production forecast as a result of further worsening market bottlenecks

- HELLA lowers forecast for sales and profit margin

Lippstadt, 23 September 2021. HELLA GmbH & Co. KGaA has lowered its sales and earnings forecast for the current fiscal year against the backdrop of significantly reduced market expectations as a result of further worsening supply bottlenecks, particularly for electronic components. For the current fiscal year 2021/2022, the company now expects sales adjusted for currency and portfolio effects in the range of around 6.0 to 6.5 billion euros (previously: around 6.6 to 6.9 billion euros) and an EBIT margin adjusted for structural measures and portfolio effects of around 5 to 7 percent (previously: around 8 percent).

The adjustment of the company's outlook is made against the backdrop of the latest market forecasts by renowned industry service providers and market analysts, according to which global vehicle production will decline by more than eight percent in the current fiscal year 2021/2022 (1 June 2021 to 31 May 2022). In July 2021, growth of almost four percent was still expected.