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Positive FY 2008-09 Result for Hella PDF Print E-mail
Monday, 30 November 2009
On the occasion of their shareholders' meeting last week, Hella announced final results for fiscal year 2008-2009 (June 1, 2008 to May 31, 2009). According to the figures released, the automotive supplier's sales were down 17% to €3.285b.
Despite the strong falloff in demand, Hella achieved a positive net result after tax of €7million. Dr. Jürgen Behrend, the company's chairman and president, described the result as satisfactory considering that almost the whole of Hella's fiscal year was affected by the global financial and economic crisis that emerged in October 2008.
For the current fiscal year 2009-2010 it is expected that the markets should stabilise at a low level.

In the first five months of the year sales have normalised at a reduced volume and, like earnings, too, are up to target. Dr. Jürgen Behrend still sees many factors of uncertainty for the further market outlook, especially in the first half of 2010.

In order to be able to react adequately the arrangements for short-time working with the employee representatives at Hella's German locations were extended prematurely until fall 2010. In addition, the company's financial flexibility has been increased and firmly secured for the coming years by a timely bank refinancing and the issuance of a first corporate bond.

 

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