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Profit before interest and taxes adjusted for special effects Earnings before interest and taxes (EBIT) adjusted for special items rose nearly nine percent to 581 million euros. The margin thus increased to 8.2 (previous year: 8.1)%. Sales fell as expected from experts. On the other hand, the operating result exceeded the forecasts of the experts interviewed by Bloomberg. The share listed on the MDax has gained significantly in value.
The company, which has nearly 38,000 employees, has not mentioned any concrete prospects for the current fiscal year. CEO Rolf Breidenbach said only that the change in the industry should be used for more profitable growth. Hella wants to present the full figures at an annual press conference on August 10 – and there should also be a more accurate forecast.
This wait is expected by industry experts because there have been signs of economic downturn. Fears of a worsening trade war between China and Europe on the one hand and the United States on the other hand fuel new regulations on pollutant emissions – known as WLTP (World Harmonized Vehicle Test Procedure).
For example, lighting manufacturer Osram, which has many customers in the automotive industry, lowered its forecasts only at the end of June, resulting in a downward spiral of its own. stocks and shares from many other vendors, such as chip maker Infineon. Hella's paper also fell to € 46.50 at the end of June, the lowest level in many months. However, in the days and weeks that followed, the stock was able to recover somewhat
The key data presented for the past year foresaw an accelerated recovery. The paper rose slightly more than nine percent in the first minutes of trading. Recently, there was a price increase of about three percent to 50.85 euros on the price list. Thus, the share placed for EUR 26.50 in 2014 is again approaching the record of the beginning of the year. At that time, the stock had sometimes cost more than 59 euros.
The experts rented in the first estimates the figures. The automotive supplier and lighting specialist had provided solid data for the past year, writes Jose Asumendi, an badyst at JPMorgan. He also believes in a strong performance over the new fiscal year – driven by significant megatrends in the auto industry such as autonomous driving. He confirmed his recommendation "Overweight" the target price of 65 euros.
So it belongs to the big camp of the optimists for the continuation of the course – ten of the 19 experts dpa experts AFX recommend the paper with an objective of average price 57 euros to sell. But to realize the hopes, the consequences of WLTP should not weigh too much. At the end of Hella's fiscal year, at the end of May, industry badysts expect that the potential impact will be in the first quarter and expected to the current year.
The experts surveyed by Bloomberg are currently predicting in terms of business turnover and operating profit, with significant growth. The turnover is expected to increase from just under six percent to 7.5 billion euros. In terms of operating income, average forecasts are currently growing at just over 630 million euros, nearly nine percent higher than in 2017/18.
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