Hella Gmbh & Co. Kgaa · XETR:HLE
Hella Gmbh & Co. Kgaa — H1 FY2022 Earnings Presentation
24 slides from Hella Gmbh & Co. Kgaa's earnings presentation, Jan 13, 2023
Slide 1: HELLA Investor Update H1 FY 2022
HELLA Investor Update H1 FY 2022 January 13 th , 2023
Slide 2: Summary
Summary 01 H1 Achievements| Michel Favre 02 Financial Results | Bernard Schäferbarthold 03 Outlook | Michel Favre 04 Key Takeaways
Slide 3: H1 Achievements
01 H1 Achievements
Slide 4: Growth in all business segments and improving profitability
Growth in all business segments and improving profitability Strong sales growth Margin improvement ❯ Group Sales up by 25.7% (including 4.9% ❯ Adjusted EBIT growing 29.5% to €202m with FX effect) a disproportional low development of costs ❯ Continuous outperformance in Asia ❯ Adj. EBIT margin at 5.3
Slide 5: Significant awards and successful portfolio management
Significant awards and successful portfolio management ❯ Further awards in the second quarter for strategic products with core customers • Electronics: High Voltage BMS for premium OEM, SOP Jan. 2024, 77GHz radar for mass OEM, SOP June 2024 • Lighting: Car Body Lighting, HD headlamp for US OEM, SOP
Slide 6: Top priorities focus on profitability and cash flow
Top priorities focus on profitability and cash flow Key priorities until May 2023 ❯ Further improve operational performance and increase the share of pass-throughs to customers ❯ Realize synergies and implement further cost reduction ❯ Reduce working capital ❯ Continue to pursue the stringent portfo
Slide 7: Financial Results
02 Financial Results
Slide 8: Continuation of strong sales performance in a recovering market
Continuation of strong sales performance in a recovering market ❯ Organic sales H1 up 20.8% to €3.7bn, €149m positive FX in H1 FY 2022, organic sales Q2 up by 25.1% ❯ Strong sales growth in Electronics and Lighting with robust demand for key products and ramp-up of production ❯ Life Cycle Solutions
Slide 9: Automotive segments with continuous sales growth and EBIT improvement
Automotive segments with continuous sales growth and EBIT improvement ELECTRONICS LIGHTING H1 FY 21/22 H1 FY 2022 H1 FY 21/22 H1 FY 2022 External Sales (€m) 1,150 1,508 vs. LVP External Sales (€m) 1,420 1,808 vs. LVP YoY organic +25.9% growth YoY organic +21.6% growth of 18.4% of 18.4% YoY FX* +5.3%
Slide 10: Life Cycle solutions steadily contributes to the sales performance
Life Cycle solutions steadily contributes to the sales performance, margin suffered from negative mix effects LCS ❯ Sales performance driven by H1 FY 21/22 H1 FY 2022 • successful spare parts business with growth particularly in Turkey, the USA and Mexico External Sales (€m) 467 494 • growth in all
Slide 11: HELLA continues internationalization with strong outperformance in China and NSA
HELLA continues internationalization of the business with strong outperformance in China as well as in NSA Region NSA Europe Asia/ Pacific incl. RoW 21 % 53 % 26 % of group sales of group sales of group sales GROUP Sales 2,004 262 1,000 813 1,742 +15.0% 317 202 683 612 +33.0% +46.3% vs. LVP growth v
Slide 12: EBIT margin improvement with sales growth and under-proportional cost increase
EBIT margin improvement with sales growth and under- proportional cost increase In €m H1 FY H1 FY YoY ❯ Adj. Gross Profit margin decreased by 1.4ppt to 23.1%: 21/22 2022 Change • increases in costs of materials, energy and logistics that could not be Sales 3,037 3,818 + 25.7% compensated by positive
Slide 13: Adjusted FCF significantly increased with better operating performance
Adjusted FCF significantly increased with better operating performance and lower WC consumption Adj.* FCF from operating activities ❯ Adj. Free Cash Flow from operating activities increased in €m by €195m to -€9m -9 • change in WC impacted by ⚬ increase in receivables (€326m) with higher sales and i
Slide 14: Outlook
03 Outlook
Slide 15: Global vehicle production expected to recover progressively, risks remain
The global vehicle production is expected to recover progressively, risks remain Expected Global Light Vehicle production in million units, IHS Markit per 13 December 2022 +12.4% HELLA expects a range between 80 and 84 million units More cautions view but still a strong plus of 4-8m vehicles compar
Slide 16: HELLA 12-months outlook until May 2023 confirmed
HELLA 12-months outlook until May 2023 confirmed 1. Guidance for the 12-month period from June 1, 2022 to May 31, 2023 Based on an unchanged assumption of LVP volumes between 80 and 84 million vehicles for the period: Consolidated sales In a confirmed range of around € 7.1 to 7.6 billion, Currency a
Slide 17: Key Takeaways
04 Key Takeaways
Slide 18: Key Takeaways
Key Takeaways ❯ First half FY 2022 with strong sales momentum and improving profitability ❯ Continued globalization of business with strong outperformance in China and NSA ❯ Improvement of operational performance and cash generation ❯ Increased pass-throughs of inflation to improve profitability and
Slide 19: Appendices
APPENDICES
Slide 20: Upcoming events
Upcoming events February 16, 2023 Preliminary FY 2022 incl. 2023 guidance March 21, 2023 FY 2022 April 27, 2023 Q1 FY 2023 April 28, 2023 AGM FY 2022 July 25, 2023 H1 FY 2023
Slide 21: LVP production and Group sales per region
LVP production and Group sales per region H1 FY H1 FY H1 20/21 21/22 FY 2022 HELLA Group sales Worldwide 3,100 3,037 3,818 in €m 1,878 1,742 2,004 Europe Growth -7.2% +15.0% 680 612 813 North & South America Growth -10.0% +33.0% Asia/Pacific & Rest of 542 683 1,000 World Growth +26.0% +46.3% Light v
Slide 22: HELLA Group P&L including reconciliation
HELLA Group P&L including reconciliation H1 FY 2021/22 H1 FY 2022 Revenues reported 3,037.1 3,817.5 Adjustments 0.0 0.0 Revenues adjusted 3,037.1 3,817.5 Gross Profit reported 735.1 879.9 Adjustments 9.5 3.4 Gross Profit adjusted 744.5 883.3 R & D expenses reported -333.7 -394.2 Adjustments -4.1 3.0
Slide 23: 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 24: -ORVIA
-ORVIA
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