Hella Gmbh & Co. Kgaa · XETR:HLE
Hella Gmbh & Co. Kgaa — Q1 2023 Earnings Presentation
24 slides from Hella Gmbh & Co. Kgaa's earnings presentation, Apr 27, 2023
Slide 1: HELLA Q1 2023 Results
HELLA Q1 2023 Results Jan 1, 2023 – March 31, 2023 April 27 th , 2023
Slide 2: Summary
Summary 01 Achievements| Michel Favre 02 Financial Results | Bernard Schäferbarthold 03 Outlook | Michel Favre 04 Key Takeaways
Slide 3: General note: change of fiscal year to calendar year
After conversion of the fiscal year to the calendar year: Comparison with the first quarter of the calendar year 2022 General note ❯ HELLA has changed the fiscal year to the calendar year ! with effect from 1 January 2023 ❯ The first quarter of the fiscal year 2023 (Q1 FY 2023) therefore covers the
Slide 4: Achievements
01 Achievements
Slide 5: Solid performance in Q1 FY 2023 according to HELLA's expectations
Solid performance in Q1 FY 2023 according HELLA’s expectations Double-digit increase in Operating Income Strong organic sales growth of +14.8% NCF with expected impact of seasonality ❯ Group reported sales growing +14.4% ❯ Operating Income up 10.3% at €111m, Operating Margin close to Q1 CY 2022 ❯ Gr
Slide 6: Financial Results
02 Financial Results
Slide 7: Strong sales growth in Q1 FY 2023 based on future-proof product portfolio
Strong sales growth in Q1 FY 2023 based on our future-proof product portfolio ❯ Organic sales up 14.8% close to €2.0bn, €7m negative FX in Q1 FY 2023 ❯ Strong double-digit organic sales growth in all three Business Groups, especially in Lighting ❯ Robust demand for key products and ramp-up of produc
Slide 8: Electronics: continuous sales growth and increased investments in future projects
Electronics with continuous sales growth and increased investments in future projects ELECTRONICS ❯ Leverage strong product portfolio in recovering markets Q1 CY 2022 Q1 FY 2023 • high demand and strong outperformance in autonomous External Sales (€m) 688 763 vs. LVP driving and energy management se
Slide 9: Strong performance in Lighting with increasing sales growth and profitability
Strong performance in Lighting with increasing sales growth and profitability improvement LIGHTING ❯ Sales growth built on market leadership Q1 CY 2022 Q1 FY 2023 position and favorable regional mix External Sales (€m) 775 946 vs. LVP • strong customer demand for sophisticated lighting solutions gro
Slide 10: Life Cycle Solutions steadily contributes to sales, margin and cash performance
Life Cycle Solutions steadily contributes to the sales, margin and cash performance thanks to positive mix and cost savings LCS ❯ Sales performance driven by Q1 CY 2022 Q1 FY 2023 • successful spare parts business with growth particularly in Mexico and Turkey External Sales (€m) 248 280 YoY organic
Slide 11: Group strong outperformance of 870 bps driven by Europe and Asia/Pacific
Group strong outperformance of 870 bps driven by Europe and Asia/Pacific LVP global +5.7% NSA Europe Asia/ Pacific incl. RoW GROUP Sales +14.4% 20 % 59 % 21 % of group sales of group sales of group sales Outperformance +8.7% 1,174 196 423 393 977 400 22 32 +20.1% 362 +5.5% +8.8% vs. LVP growth vs. L
Slide 12: Profitability level mainly kept; strong sales and significant R&D investments
Profitability level mainly kept; strong sales and significant R&D investments In €m Q1 CY 2022* Q1 FY 2023 YoY Change Sales 1,739 1,990 + 14.4% ❯ Gross Profit margin up 50bps with higher volumes and COGS (1,320) (1,501) + 13.7% pass-though of price increases to mitigate inflation burden ❯ R&D ratio
Slide 13: Net Cash Flow impacted by seasonality, working capital and capex
NCF impacted, as expected, by seasonality, Working Capital, and capex development Net Cash Flow ❯ Net Cash Flow declined by €74m to €-38m in €m and % of sales 36 • negative change in Working Capital mainly due to 2.1% increase in receivables with higher sales development • increase of inventories ma
Slide 14: Outlook
03 Outlook
Slide 15: HELLA expecting a stable market with 82m vehicles in 2023
HELLA is expecting a stable market due to sensitivity to car prices and some tensions on semiconductors with 82m vehicles in 2023 Expected Global Light Vehicle production Expected Global Light Vehicle production in million units, IHS Markit per April 2023 in million units, IHS Markit per April 202
Slide 16: Confirmed FY 2023 outlook
Confirmed FY 2023 outlook Outlook for the period January 1, 2023, to December 31, 2023 Based on an assumed LVP of around 82 million vehicles for the period Consolidated sales In a range of around € 8.0 to 8.5 billion Currency and portfolio adjusted Operating Income In a range of around 5.5% to 7.0%
Slide 17: HELLA key priorities for 2023
HELLA continues to focus on profitability and cash flow generation HELLA key priorities for 2023 ❯ Improve the operational cash performance and cash generation (follow through Manage by Cash program) ❯ Continue to pass-through inflation to customers ❯ Realize synergies and implement further cost red
Slide 18: Key Takeaways
04 Key Takeaways
Slide 19: Key Takeaways
Key Takeaways ❯ Solid performance in Q1 FY 2023 fully in line with our expectations • all business groups with double-digit sales growth • group profitability close to PY level despite increased R&D investment to sustain future growth ❯ Confirmed FY 2023 outlook • acceleration of positive business d
Slide 20: Appendices
APPENDICES
Slide 21: Upcoming events
Upcoming events April 28, 2023 AGM Short FY 2022 July 25, 2023 H1 FY 2023 October 27*, 2023 9M FY 2023 *to be confirmed
Slide 22: LVP production and Group sales per region
LVP production and Group sales per region Q1 CY 2022 Q1 FY 2023 HELLA Group sales Worldwide 1,739 1,990 in €m 977 1,174 Europe +20.1% 362 393 North & South America +8.8% 400 423 Asia/Pacific & Rest of World +5.5% Light vehicle production Worldwide 19,924 21,063 in 1.000 units 3,914 4,588 Europe +17.
Slide 23: Disclaimer
Disclaimer o This document was prepared with reasonable care. Certain numerical data, financial information and market data in this presentation have been rounded in accordance with commercial rounding. However, no responsibility can be assumed for the correctness of the provided information. In add
Slide 24: -ORVIA
-ORVIA
HELLA GmbH & Co. KGaA — Q1 2023 Earnings Presentation on 6ix