Faurecia: Hella confirms its forecasts for the financial year

(CercleFinance.com) – Hella, which is in the process of merging with Faurecia, presents half-year results. Currency-adjusted consolidated revenue declined by 2.6% in the first half to 3.0 billion euros (second quarter: -11.9%).

During the semester, the adjusted EBIT amounted to 156 million euros (previous year: 269 million euros).

‘Despite a drop in sales, the Automotive segment is showing stronger development than the market as a whole; the solidity of the spare parts and workshop activities stimulates the positive development in the spare parts segment ‘indicates the management.

For the 2021/2022 financial year (from June 1, 2021 to May 31, 2022), the Company confirms its forecasts announced on November 29, 2021 with revenue adjusted for exchange rates of between approximately 5.9 and 6.2 billion euros (previously adjusted: approximately 6.0 to 6.5 billion euros) and an adjusted EBIT margin of approximately 3.5 to 5.0% (previously adjusted: approximately 5.0 to 7.0%) .

Particularly regarding the third quarter of the fiscal year, the Company sees major challenges with lower production volumes and an even heavier cost burden in light of the continued shortage of materials and components.

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