HELLA GMBH & CO. KGAA (FRA:HLE) HELLA GmbH & Co. KGaA: COVID-19-Pandemic makes short-time work necessary; sales and earnings forecast for current fiscal year likely not to be achieved due to pandemic
Transparency directive : regulatory news
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DGAP-Ad-hoc: HELLA GmbH & Co. KGaA / Key word(s): Change in Forecast HELLA GmbH & Co. KGaA: COVID-19-Pandemic makes short-time work necessary; sales and earnings forecast for current fiscal year likely not to be achieved due to pandemic - Comprehensive set of measures adopted to save staff and material costs; short-time work in domestic sites under preparation; further measures such as production stops to be expected - Sales and EBIT margin (adjusted by restructuring measures and portfolio effects) estimated below the originally anticipated span for the current fiscal year Lippstadt, 18 March 2020. The management of HELLA GmbH & Co. KGaA has adopted a comprehensive set of measures to achieve further savings of staff and material costs in light of the COVID-19 pandemic and the global reactions to it, particularly the increasing number of production shutdowns by customers, the estimated disruptions of global logistics chains and the anticipated intensified decline in demand. Furthermore, short-time work on domestic sites is under preparation. The management considers further measures which can include short-time work at other locations and the temporary shutdown of the company's own production facilities. Due to the pandemic, the company expects the sales on a currency- and portfolio adjusted basis to be below the originally forecasted span of approx. 6.5 billion Euro to 7.0 billion Euro. As the visibility of the consequences of the pandemic is currently limited, it is not possible to estimate the amount more accurately at this time. Depending on the development and duration of the loss of business, also the EBIT margin adjusted by restructuring measures and portfolio effects is estimated to fall considerably below the originally forecasted target of 6.5 per cent to 7.5 per cent. The nine-month results for the current fiscal year 2019/2020 have developed according to expectations. Further details are provided in today's press release; the nine-month results will be published in detail as planned on 2 April 2020. ***
18-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | HELLA GmbH & Co. KGaA |
| Rixbecker Str. 75 | |
| 59552 Lippstadt | |
| Germany | |
| Phone: | +49 (0)2941 38-7125 |
| Fax: | +49 (0)2941 38-6647 |
| E-mail: | Investor.Relations@hella.com |
| Internet: | www.hella.de/ir |
| ISIN: | DE000A13SX22 |
| WKN: | A13SX2 |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Munich, Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Tradegate Exchange; Luxembourg Stock Exchange |
| EQS News ID: | 1000479 |
| End of Announcement | DGAP News Service |
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1000479 18-March-2020 CET/CEST