Hella Gmbh & Co. Kgaa · XETR:HLE
Hella Gmbh & Co. Kgaa — Q1 FY2024 Earnings Presentation
23 slides from Hella Gmbh & Co. Kgaa's earnings presentation, Apr 25, 2024
Slide 1: HELLA Investor Update
HELLA Investor Update Results Q1 FY 2024 (Jan 1, 2024 - Mar 31, 2024) April 25 th , 2024
Slide 2: Summary
Summary 01 Highlights 02 Financial Results Q1 FY 2024 03 Outlook FY 2024 04 Key takeaways
Slide 3: Highlights
01 Highlights
Slide 4: Q1 FY 2024 highlights
Q1 FY 2024 highlights Successful placement of promissory note loan totaling €200m • Transaction significantly oversubscribed and increased from €100m to €200m • Issued with terms of 3, 5, 7 years maturing March ‘27, ‘29, and ’31 • Serves primary to refinance a bond maturing in May ‘24 Completion of
Slide 5: Solid start to the fiscal year 2024 with sales and margin development in Q1
Solid start to the fiscal year 2024 with sales and margin development in Q1 as expected Modest sales growth within a market Operating Income and OI margin as expected environment which is slightly down at PY level ❯ Organic sales +2.2%* vs. -0.8% overall ❯ Operating Income constant at €111m, OI mark
Slide 6: Financial Results Q1 FY 2024
02 Financial Results Q1 FY 2024
Slide 7: Slightly lower sales momentum in Q1 FY 2024 in market environment which is slightly down
Slightly lower sales momentum in Q1 FY 2024 in market environment which is slightly down ❯ Organic sales Q1 FY 2024 up 2.2%*, €-30m negative FX in first 3 months ❯ Reported sales Q1 FY 2024 up by 0.6% ❯ Sales development primarily driven by growth in Lighting ❯ Electronics with positive radar busine
Slide 8: Lighting with profitability improvement due to growth and savings
Lighting with profitability improvement due to growth and savings LIGHTING ❯ Growth driven mainly outside Europe • Full consolidation of HBBL In €m Q1 FY 2023 Q1 FY 2024 External Sales (€m) 946 988 vs. LVP • Demand for latest lighting technologies from growth manufacturers of electric vehicles in As
Slide 9: Electronics with margin improvements despite weaker top line
Electronics with margin improvements despite weaker top line ELECTRONICS ❯ Slight sales decline due to customer mix effects and delayed project launches In €m Q1 FY 2023 Q1 FY 2024 • Radar business with continuous growth External Sales 763 738 vs. LVP growth YoY organic -2.2% of -0.8% • Negative cus
Slide 10: LCS with further sales growth and good operational performance
LCS with further sales growth and good operational performance LCS ❯ Organic growth due to successful spare parts business In €m Q1 FY 2023 Q1 FY 2024 • Continuous growth of the spare parts business External Sales 280 275 in Europe esp. in the UK, Poland, and Turkey YoY organic +1.4 YoY FX* -3.1% •
Slide 11: Sales decline in Europe and America primarily driven by market weakness; growth in Asia
Sales decline in Europe and America primarily driven by market weakness; growth in Asia based on one-off effect LVP global -0.8% Americas Europe Asia/ Pacific incl. RoW GROUP sales +0.6% 19 % 58 % 23 % (organic +2.2%*) of group sales of group sales of group sales Outperformance 140bps (organic 300bp
Slide 12: Operating income in absolute and relative figures at prior year level
Operating income in absolute and relative figures at prior year level – improvement of GP margin In €m Q1 FY 2023 Q1 FY 2024 YoY Change ❯ Gross Profit margin up 68bps with improved Sales 1,990 2,002 + 0.6% operating performance, positive volume & mix COGS (1,501) (1,497) - 0.3% effects and a lower m
Slide 13: Net Cash Flow/Sales with a development as expected due to higher working capital and increased CAPEX
Net Cash Flow/Sales with a development as expected due to higher working capital and increased CAPEX Net Cash Flow ❯ Net Cash Flow decreased by €13m to €51m in €m and % of sales • Higher cash flow from operating activities • Higher working capital -38 -13 ⚬ increase in receivables -51 ⚬ decrease in
Slide 14: Outlook FY 2024
03 Outlook FY 2024
Slide 15: The global market is expected to be flat with around 90m vehicles produced in 2024
The global market is expected to be flat with around 90m vehicles produced in 2024; volume decline in Europe Expected Global Light Vehicle production Expected Global Light Vehicle production in million units, S&P Global Mobility per April 2024 in million units, S&P Global Mobility per April 2024 0.0
Slide 16: HELLA FY 2024 outlook expects slight improvements in sales, earnings and NCF
HELLA FY 2024 outlook expects slight improvements in sales, earnings and NCF in a persistently volatile market environment Outlook for the period January 1, 2024, to December 31, 2024 Based on an assumed LVP production of ~90 million vehicles for the period Sales Between around € 8.1 to 8.6 billion
Slide 17: Key Takeaways
04 Key Takeaways
Slide 18: Key Takeaways
Key Takeaways ❯ Start into FY 2024 as expected • Satisfactory results in market which is slightly down • Growth performance and profitability in Q1 in line with expectations ❯ Outlook FY 2024 confirmed with moderate improvements in the key performance indicators • Ramp-up of projects expected to sup
Slide 19: Appendices
APPENDICES
Slide 20: LVP production and Group sales per region
LVP production and Group sales per region Q1 FY 2023 Q1 FY 2024 HELLA Group sales Worldwide 1,990 2,002 in €m 1,174 1,157 Europe -1.5% 393 388 Americas -1.2% 423 457 Asia/Pacific & Rest of World +8.2% Light vehicle production Worldwide 21,374 21,195 in 1.000 units 4,633 4,519 Europe -2.5% 4,558 4,57
Slide 21: Upcoming events
Upcoming events April 26, 2024 AGM FY 2023 July 23, 2024 H1 FY 2024 November 7, 2024 9M FY 2024
Slide 22: Disclaimer
Disclaimer o This document was prepared with reasonable care. However, no responsibility can be assumed for the correctness of the provided information. In addition, this document contains summary information only and does not purport to be comprehensive and is not intended to be (and should not be
Slide 23: -ORVIA
-ORVIA (HELLA SS
HELLA GmbH & Co. KGaA — Q1 FY2024 Earnings Presentation on 6ix