• WKN: A13SX2
  • ISIN: DE000A13SX22
  • Land: Deutschland

Nachricht vom 28.07.2020 | 08:34

HELLA GmbH & Co. KGaA: Outlook for current fiscal year 2020/2021; programme to strengthen long-term competitiveness

HELLA GmbH & Co. KGaA / Key word(s): Forecast/Miscellaneous
HELLA GmbH & Co. KGaA: Outlook for current fiscal year 2020/2021; programme to strengthen long-term competitiveness

28-Jul-2020 / 08:34 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Disclosure of inside information according to Article 17 MAR of the Regulation (EU) No 596/2014

HELLA GmbH & Co. KGaA: Outlook for current fiscal year 2020/2021; programme to strengthen long-term competitiveness

- Forecast for current fiscal year 2020/2021 reflects high market uncertainty and reduced vehicle production

- Programme for sustainable improvement of competitiveness includes job cuts at the company's headquarters in Lippstadt

Lippstadt, 28 July 2020. HELLA GmbH & Co. KGaA (WKN A13SX2 / ISIN DE000A13SX22) expects currency- and portfolio-adjusted group sales in the range of around EUR 5.6 billion to EUR 6.1 billion and an EBIT margin adjusted for restructuring measures, portfolio effects and extraordinary impairments in the range of around 4.0 percent to 6.0 percent for the current financial year 2020/2021 (1 June 2020 to 31 May 2021). This forecast is made against the background of the continuing high level of market uncertainty and reduced global vehicle production. It supplements the preliminary business figures for the past 2019/2020 financial year (1 June 2019 to 31 May 2020), which are being published today and are in the range of the most recently published forecast; the company will announce individual figures in a separate press release.

In order to sustainably strengthen the company's position in view of the challenging market conditions, management has decided on a long-term programme to increase its competitiveness. In addition to increased investment in automotive market trends, automation and software know-how, this also provides for adjustments in HELLA's worldwide location network. In this context, the number of administrative and development positions at the company's headquarters in Lippstadt is to be reduced by around 900. The necessary personnel adjustments are to be made in the medium term until the end of 2023 and implemented in the most socially acceptable way possible. If all structural measures in Germany are successfully implemented, an annual EBIT contribution of around EUR 140 million can be expected. Most hereof will in all likelihood take effect from the 2022/2023 financial year. The non-recurring expenses of these measures are expected to be around EUR 240 million and will largely be incurred in the current fiscal year 2020/2021. Most of the funds released are to be used to strengthen the company's innovative strength and competitiveness in the long term.

28-Jul-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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