Full Year 2024 HELLA GmbH & Co KGaA Earnings Call Transcript
Key Points
- HELLA GmbH & Co KGaA (HLKHF) achieved sales above EUR8 billion for the first time, outperforming the market by 240 basis points.
- Net income increased by 40% compared to 2023, reaching EUR371 million.
- The company proposes a continuation of its established dividend policy, with a dividend of EUR0.95 per share.
- HELLA GmbH & Co KGaA improved its sustainability ratings, achieving an A rating with CDP and targeting significant CO2 reductions.
- The company has been successful in winning new business in Asia and the Americas, with 74% of new business outside of Europe.
- The Electronics segment experienced a sales decline of 1.2%, affected by slow ramp-ups in the electrical market and negative product mix in China.
- Lifecycle Solutions showed a sales decline of 3.6%, impacted by low demand in Construction and Agricultural business.
- Operating income margin decreased slightly to 5.6% from 5.8% last year.
- The company faced higher R&D expenses in the Lighting segment due to new program launches.
- HELLA GmbH & Co KGaA's cash flow decreased to EUR189 million from EUR205 million, partially due to higher tax payments.
Vienney, the CFO of HELLA. (Operator Instructions) Now, I hand over to Bernard Schäferbarthold.
Good morning, everybody. Everyone, welcome to our 12-month 2024 results call with the final numbers. I'm starting in our presentation on page 4, so we confirm all preliminary numbers we have presented to you some weeks ago.
So sales above EUR8 billion first time. We outperformed the market by 240 basis points. The profit net income came out at EUR371 million. It's 40% higher compared to 2023. Within that number is the disposal of our joint venture BHTC, with a book gain of EUR106 million (sic - see slide 4, "EUR116 million).
We propose a continuation of our established dividend policy, so overall around 30% on net profit, which is then a dividend of EUR106 million, EUR0.95 per share. As that operating income and net cash flow confirmed in comparison to the prelims, so 5.6% in operating income and a net cash flow of
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