on HELLA GmbH & Co. KGaA (isin : DE000A13SX22)
FORVIA HELLA Adjusts Company Outlook for Fiscal Year 2024
FORVIA HELLA, a subsidiary of HELLA GmbH & Co. KGaA, announced a revised outlook for the fiscal year 2024. Lower-than-expected production volumes, customer-related postponements, and product mix effects have prompted this adjustment. The company now forecasts sales between €7.9 and 8.1 billion, and an operating income margin of 5.5 to 6.0 percent.
CEO Bernard Schäferbarthold stated that the industry environment has become more challenging. FORVIA HELLA plans to expand business in American and Asian markets while improving cost structures in Europe. These measures aim to enhance profitability and cash flow by 2025.
Two-thirds of the company's order intake this year occurred in American and Asian markets. Key projects include rear combination lamps for a Chinese manufacturer and Smart Car Access systems for a US manufacturer. Cost optimization and strategic prioritization are expected to improve overall financial health.
R. P.
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