FRANKFURT (Dow Jones) – The automotive supplier Hella also posted a high loss in the past fiscal year 2019/20. As can be seen from the annual report, the deficit was 431 million euros. In the twelve months of the previous year to the end of May, the company had earned 630 million euros. The main reason for the loss are impairments in the fourth quarter due to the lower capacity utilization of the plants during the Corona crisis.
Hella GmbH & Co KGaA had already presented key figures for the past financial year in advance at the end of July. The adjusted EBIT margin halved to 4.0 percent from 8.4 percent. Reported EBIT was minus 343 million euros, currency and portfolio-adjusted sales fell by 14 percent to 5.8 billion euros.
For the current financial year, according to the annual report, Hella expects, as announced, currency- and portfolio-adjusted group sales of 5.6 billion to 6.1 billion euros. The adjusted EBIT margin should reach around 4.0 percent to 6.0 percent.
Contact the author :[email protected]
DJG/kla/err
(END) Dow Jones Newswires
August 14, 2020 01:29 ET (05:29 GMT)
–
