EQS-News: FORVIA HELLA adjusts company outlook for fiscal year 2024
Source: EQS
LIPPSTADT ( FORVIA HELLA adjusts company outlook
"We have been operating in a very challenging industry environment since the beginning of the fiscal year. However, the general conditions have deteriorated far more than expected, particularly since the middle of the year. We therefore assume that the pressure on our business development will further intensify going forward," says Bernard Schäferbarthold, CEO of FORVIA HELLA. "We are well positioned technologically and continue to address the key trends in mobility. To successfully overcome the current challenges, we will, on the one hand, consistently expand our business activities in the American and Asian markets. On the other, we will continue to improve our cost structures in general and further accelerate the competitiveness program for FORVIA HELLA is pursuing a strategy of further balancing its global business and driving stronger growth particularly in the American and Asian regions. Accordingly, over the year the Company was able to achieve around two thirds of its order intake in these markets. These include series projects for rear combination lamps and car body lighting for a Chinese car manufacturer as well as large-volume customer orders from a US manufacturer for the digital vehicle access system Smart Car Access and for lighting electronics. In order to sustainably improve operating income and net cash flow, the measures already initiated to reduce costs will be further accelerated. In addition to structural adjustments in the European network, the optimization of cash through prioritization and improvements in working capital and capital expenditures is a key lever in particular. In addition, higher cost synergies from the cooperation within the Against the background of the adjusted company outlook, an explanatory conference call for analysts and investors will be held in English today ( Note: You can also find this text and suitable images in our press database at: www.hella.com/press
|
Language: | English |
Company: | |
Rixbecker Str. 75 | |
59552 Lippstadt | |
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, DE000A3E5DP8 |
WKN: | A13SX2, A3E5DP |
Indices: | MDAX |
Listed: | Regulated Market in |
EQS News ID: | 1996755 |
End of News |
|
1996755 26.09.2024 CET/CEST