HELLA FY22 Adj. EBIT, Sales Down - Quick Facts

(RTTNews) - HELLA GmbH & Co. KgaA (HLKHF), a German automotive part supplier, Wednesday reported preliminary fiscal 2022 adjusted earnings before interest and taxes or adjusted EBIT of 280 million euros, down from 510 million euros last year, as a result of increasing cost burdens.

Adjusted EBIT margin was 4.4 percent, lower than previous year's 8 percent.

HELLA, who operates under the umbrella brand FORVIA, reported that currency and portfolio-adjusted sales declined 2.4 percent to 6.2 billion euros from 6.4 billion euros a year ago, due to lower worldwide vehicle production.

Global light vehicle production fell significantly by around 9 percent in the same period.

HELLA said it significantly outperforms global automotive market despite sales decline.

HELLA CEO Michel Favre said, "In the past fiscal year, we were facing strong headwinds from the market. On the one hand, vehicle production declined significantly as a result of component shortages and corona lockdowns; on the other hand, cost burdens increased significantly due to supply bottlenecks and noticeable inflation."

The final results for fiscal year 2022 will be published on August 18.