HELLA 9-month Adj. EBIT Declines

(RTTNews) - HELLA (HLKHF) said its adjusted EBIT margin was 5.1 percent for the first nine months compared to 8.0 percent, prior year. The company said the lower profitability is primarily attributable to rising cost burdens as a consequence of component shortages, higher prices for energy and raw materials, and a higher level of capital expenditure on research and development.

In the nine-month period, adjusted EBIT declined to 238 million euros from 373 million euros, prior year. Earnings for the period declined to 154 million euros from 236 million euros, last year. Earnings per share was 1.37 euros compared to 2.12 euros.

Currency and portfolio-adjusted consolidated sales decreased slightly by 0.9 percent to 4.6 billion euros. Reported sales increased by 0.2 percent on the prior year.

The company said its outlook for the fiscal year 2021/2022 remains in line with the forecast made on 29 November 2021.