- Preliminary annual result for 2006-07 confirmed
- Operational result (EBIT) increases to 51 million euros
- Positive development in the current fiscal year
Lippstadt, November 16, 2007. On the occasion of its shareholders’ meeting, Hella KGaA Hueck & Co. published the final results for the past fiscal year 2006-07 (June 1, 2006 to May 31, 2007). According to these figures, the automotive supplier’s sales rose 8 percent to 3.667 billion euros. Compared with the previous year, the operational result (EBIT) improved from 19 million euros to 51 million euros. After an annual net loss of 21 million euros in the previous year, the Hella Group was able to report an annual net profit of 23 million euros in fiscal year 2006-07. In addition, net debt was reduced by 91 million euros.
Hella’s positive corporate development led to the ratings agency Moody’s raising its ratings outlook from Baa3 “negative” to “stable”, thus confirming the “Investment Grade” status for Hella. With this revaluation, the ratings agency takes account of, among other factors, the great progress in the Business Division Lighting due to the improvement program Lion (“Light On”).
In the current fiscal year 2007-08, the aim is a clear increase in earnings as well as an increase in net liquidity. After the first five months, the results achieved are according to plan. The Management Board therefore assumes at the present time that the demanding annual targets will be achieved in all three business divisions and that Hella will continue its positive development.
Hella KGaA Hueck & Co., Lippstadt: The automotive parts supplier develops and manufactures components and systems for lighting technology and electronics for the automotive industry. In addition, joint venture companies also produce complete vehicle modules, air conditioning systems and vehicle electric systems. Hella has one of the largest aftermarket organizations in the world for automotive parts and accessories, with its own sales companies and partners in more than 100 countries. The consolidated turnover of the Hella Group is around 3.7 billion euros. Hella is one of the top 50 automotive parts suppliers in the world and one of the 100 largest industrial companies in Germany. More than 25,000 people work in 70 manufacturing facilities, production subsidiaries and joint ventures all over the world. More than 3,000 engineers and technicians work in research and development throughout the company group. Customers include all leading vehicle and system manufacturers, as well as the automotive parts aftermarket.