Faurecia: Hella confirms full-year forecasts

(CercleFinance.com) - Hella, which is in the process of merging with Faurecia, has presented its interim results.


Currency-adjusted consolidated sales fell by 2.6% in H1 to 3.0 billion euros (with a 11.9% in Q2).

H1 adjusted EBIT came in at 156 million euros (vs. 269 million euros the previous year).

Despite lower sales, the Automotive segment is outperforming the market as a whole; the strength of the spare parts and workshop business is driving the positive development in the spare parts segment, management said.

For FY 2021/2022 (1 June 2021 to 31 May 2022), the Company confirms its forecast announced on 29 November 2021, including currency-adjusted sales of about 5.9 to 6.2 billion euros (vs. 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%).

In particular, regarding Q3, the company sees major challenges, with lower production volumes and an even heavier cost burden given the continued shortage of materials and components.

The Faurecia share is down over 1% in early trading today.


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