FORVIA HELLA has announced its financial results for the first half of 2024, reporting a slight increase in sales and earnings despite the current challenging market environment.
Currency-adjusted sales rose by 1.6% to €4.06 billion, with operating income increasing to €248 million. However, net cash flow slightly declined to €86 million compared to the previous year.
The Lighting business group experienced growth due to the full consolidation of a joint venture, while the Electronics business group faced challenges due to customer mix and a temporary slowdown in European electrification. The Lifecycle Solutions business group also reported a decline in sales due to lower market volumes for key customer groups.
To address cost pressures and improve competitiveness, FORVIA HELLA has implemented a comprehensive program targeting €400 million in annual gross savings by 2028.
Despite a challenging market outlook, the company has confirmed its full-year forecast, with sales expected to reach between €8.1 billion and €8.6 billion and an operating income margin of 6.0% to 7.0%.
The financial report for the first half of fiscal year 2024 is now available on the
website of HELLA GmbH & Co. KGaA.
