-
Published revenue up 28% in the 3rd quarter and 12% in the first 9 months of 2022
-
Revenue forecast for 2022 revised upwards to €410-415m.
Sales
3rd quarter consolidated sales
|
In €m |
Q3 2022* |
Q3 2021 |
Posted |
Organic |
Foreign exchange effect |
Perimeter change | |
Turnover | 110.0 | 85.7 | 28.3% | 20.3% | 9.7% | -1.6% | |
Mobility ** | 93.3 | 72.9 | 28.2% | 20.9% | 9.2% | -1.9% | |
Industrial *** | 16.7 | 12.9 | 29.2% | 16.6% | 12.6% | _ |
Consolidated sales at the end of September
|
In €m |
Q3 2022* |
Q3 2021 |
Posted |
Organic |
Foreign exchange effect |
Perimeter change | |
Turnover | 313.9 | 279.5 | 12.3% | 8.5% | 6.4% | -2.6% | |
Mobility ** | 266.3 | 235.2 | 13.2% | 8.4% | 6.1% | -1.3% | |
Industrial *** | 47.6 | 44.3 | 7.6% | 9.6% | 8.1% | -10.1% |
*unaudited
** 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
**** Source: S&P Global Mobility September 2022
-
Mobility market: organic growth of 8.4% at the end of September 2022
By activity:
In the 3rd quarter, turnover at constant exchange rates and scope was up 20.9% (+28.2% in published data) in a market up 28.8%.
At the end of September 2022, revenue at constant exchange rates and scope was up 8.4% (+13.2% in published data) in a market up 8.3%. European automotive production is down 2.7% and represents less than 20% of global automotive production, while Delfingen generates nearly 50% of its Mobility business there.
The effect of exchange rates at the end of September was positive at €14.4 million, mainly due to the parity (€/$).
Q3 2022 revenue:
|
In €m |
2022* |
2021 |
Posted |
Organic |
Foreign exchange effect | |
Protection systems | 74.3 | 58.4 | 27.3% | 18.8% | 8.6% | |
Transfer of fluids | 16.6 | 12.1 | 37.1% | 24.6% | 12.5% | |
Others | 2.4 | 2.4 | 3.2% | -4.5% | 7.7% | |
|
TOTAL Mobility |
93.3 |
72.9 |
28.2% |
20.9% |
9.2% |
Cumulative turnover at the end of September 2022:
|
In €m |
2022* |
2021 |
Posted |
Organic |
Foreign exchange effect | |
Protection systems | 210.7 | 191.5 | 10.0% | 4.4% | 5.6% | |
Transfer of fluids | 47.9 | 36.5 | 31.2% | 22.3% | 8.9% | |
Others | 7.7 | 7.2 | 6.7% | 0.8% | 5.8% | |
|
TOTAL Mobility |
266.3 |
235.2 |
13.2% |
8.4% |
6.1% |
By region:
|
In €m |
2022* |
2021 |
Posted |
Organic |
Foreign exchange effect |
Evolution of the Automotive Market **** |
Performance vs Organic (in pts) | |
Americas | 99.7 | 73.0 | 36.7% | 21.4% | 15.2% | 24.9% | -3.5 | |
Europe – Africa | 132.0 | 136.5 | -3.2% | -1.3% | 0.3% | -2.7% | 1.4 | |
Asia | 34.6 | 25.8 | 34.1% | 22.8% | 11.3% | 10.5% | 12.3 | |
|
TOTAL Mobility |
266.3 |
235.2 |
13.2% |
8.4% |
6.1% |
8.3% |
0.1 |
By trimester:
|
In €m |
2022* |
2021 |
Posted |
Organic |
Foreign exchange effect |
Perimeter change | |
T1 | 87.7 | 84.7 | 3.5% | 0.3% | 3.2% | 0.0% | |
T2 | 85.3 | 77.6 | 9.8% | 5.5% | 6.5% | -2.1% | |
T3 | 93.4 | 72.9 | 28.2% | 20.9% | 9.2% | -1.9% |
Industrial Market sales were up 9.6% at constant scope and exchange rates (7.6% based on reported data), with a negative impact (-10.1%) of the change in scope following the disposal of the “Technical straps and belts” activity in June 2021.
Note the good momentum in sales of the “Electrical and thermal insulation” activity (+18.5% at constant exchange rates) and Drossbach (+7.6% at constant exchange rates).
The effect of exchange rates at the end of September was positive at €3.6 million due to the parity (€/$).
Outlook
The global market situation remains highly disturbed (war in Ukraine, supply chain supply, commodity and energy prices).
According to S&P Global Mobility estimates published in September 2022, global automotive production growth will be +5% in 2022.
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 sales of around €410-415 million and a operational by 5% for the year 2022.
DELFINGEN is adapting to these disrupted 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
EURONEXT Growth Paris | Next press release: February 3, 2023 |
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