PRESS RELEASE – DELFINGEN
First-half 2022 revenue
Anteuil, July 29, 2022
Reported revenue of €203.9 million, up 5.3%
Outperformance of the Mobility market by +4.5 pts in a very difficult market context
Good momentum in the industrial division at constant scope
Sales
Consolidated sales in the 1st half
(unaudited)
|
In €m |
S1 2022 |
H1 2021 |
Posted |
Organic |
Foreign exchange effect |
Perimeter change |
Turnover | 203.9 | 193.7 | 5.3% | 3.2% | 5.0% | -3.0% |
Mobility * | 172.9 | 162.4 | 6.5% | 2.7% | 4.8% | -0.9% |
Industrial ** | 31.0 | 31.4 | -1.2 | 7.3% | 6.2% | -14.8% |
*2022 scope: sale of the Russian site in May 2022
** 2021 scope: disposal of the technical straps and belts business as of June 30, 2021
Mobility market: organic growth of 2.7%
Global automotive production was down 1.8% in the first half in a still difficult context with tensions over electronic components, the Russian-Ukrainian crisis and health restrictions in China (two months of confinement in April and May). DELFINGEN outperformed the market by 4.5 pts and by 7.6 pts excluding the geographic mix effect of its sales. Indeed, the decline in automobile production is particularly marked in Europe/Africa (-10%) where the group achieves 51% of its sales.
At the end of June 2022, revenue at constant exchange rates and scope was up 2.7% (+6.5% in published data). The effect of exchange rates at the end of June was positive at €7.7m (or 4.8% of sales) mainly due to the parity (€/$).
By activity
:
Note the excellent performance of the “Fluid transfer” activity, driven by an automotive market up 3.9% in the Americas region.
|
In €m |
2022 |
2021 |
Posted |
Organic |
Foreign exchange effect |
Protection systems | 136.4 | 133.1 | 2.4% | -1.9% | 4.3% |
Transfer of fluids | 31.3 | 24.4 | 28.3% | 21.1% | 7.2% |
Others | 5.3 | 4.9 | 8.3% | 3.4% | 4.9% |
|
TOTAL Mobility | 172.9 | 162.4 | 6.5% | 2.7% | 4.8% |
By region:
All regions are outperforming the automotive market, especially the Americas and Asia:
|
In €m |
2022 |
2021 |
Posted |
Organic |
Foreign exchange effect |
Evolution of the Automotive Market *** |
Performance vs Organic (in pts) |
Americas | 63.3 | 48.0 | 31.7% | 19.3% | 12.5% | 3.9% | 15.4 |
Europe – Africa | 88.7 | 97.3 | -8.8% | -7.7% | 0.2% | -9.8% | 2.1 |
Asia | 20.9 | 17.0 | 23.1% | 13.8% | 9.3% | -0.2% | 14.0 |
|
TOTAL Mobility |
172.9 |
162.4 |
6.5% |
2.7% |
4.8% |
-1.8% |
4.5 |
*** Source: S&P Global Mobility July 2022
Industrial Market sales were up 7.3% at constant scope and exchange rates (-1.2% as reported), with a negative impact (-14.8%) due to the change in scope following the sale of the “Technical straps and belts” activity in June 2021.
Note the good momentum in sales of the “Electrical and thermal insulation” activity (+16.8% at constant exchange rates) and Drossbach (+5.5% at constant exchange rates).
The effect of exchange rates at the end of June was positive at €2.0m.
Outlook
Uncertainty weighs on the markets with multiple factors such as the situation in Ukraine or the disruption of supply chains.
According to estimates by S&P Global Mobility (formerly IHS Markit) published in July 2022, global automotive production should stand at 80.8 million units in 2022, up 5% compared to 2021.
DELFINGEN remains very cautious on market expectations. However, given its strategic positioning in vehicle electrical wiring protection solutions, its leadership and its global presence, DELFINGEN anticipates a market outperformance of 2 to 3 pts.
DELFINGEN is adapting to these extreme economic conditions while seizing growth opportunities linked to the transformation of the market towards cleaner and responsible mobility.
Safe Harbor Statement
Although DELFINGEN’s management considers these forward-looking statements to be reasonable as of the date of publication of this document, investors are warned that these forward-looking statements are subject to numerous elements, risks and uncertainties, which are difficult to predict and generally outside the scope of control of DELFINGEN, which may imply that the results and events actually achieved differ materially from those expressed or anticipated in the forward-looking statements.
DELFINGEN, a world leader in protection solutions
and routing of on-board electrical and fluid networks
WWW.DELFINGEN.COM
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Regulated information:
Inside information:
– Information on annual turnover
Full and original press release in PDF format:
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