HELLA GmbH & Co. KGaA

Latest Results (08.06.2026):

This summary covers HELLA GmbH & Co. KGaA’s 1st quarter of fiscal year 2026. Currency‑adjusted sales were broadly stable at €2,001m but reported sales fell to €1,939m (-2.9%) due to negative FX effects. Adjusted operating income was €96m (5.0% margin) while reported EBIT was €60m; net profit for the period was €32m (EPS €0.29). Net cash flow improved to -€49m and the Company confirmed its FY2026 outlook.

Headline numbers

Q1 FY2026 (1 Jan–31 Mar 2026): Sales €1,939m (-2.9% YoY reported; +0.2% currency‑adjusted to €2,001m). Operating income (adjusted) €96m (5.0% margin). Reported EBIT €59.7m (approx. €60m). EBITDA €209m. Earnings for the period €32m; EPS €0.29. Net cash flow -€49m (ratio -2.5%).

Segment performance

Electronics: Sales €889m (+~2.7% YoY) driven by 77 GHz radar and energy management components. Lighting: Sales €843m (-10.8%) impacted by phased‑out series projects and product discontinuations. Lifecycle Solutions: Sales €262m (+3.3%) with strength in specialist‑vehicle and workshop businesses.

Regional trends

Europe: ~€1,141m sales, broadly stable. Americas: €403m (-11.2%) mainly due to discontinued lighting product lines and weaker US OEM business. Asia/Pacific/Rest of World: €394m (-1.6%) — lighting grew in region but Electronics partly down on customer/product mix and weaker China volumes.

Margins and profitability

Gross profit fell to €413m (gross margin 21.3% vs 23.3% prior year) largely due to lighting volume/mix and higher material costs. Adjusted operating margin 5.0% (prior 5.5%). EBITDA margin ~10.8% (slightly up). R&D expenses €178m (-14.7%), R&D ratio 9.2%.

Cash flow, liquidity and balance sheet

Net cash flow improved to -€49m. Cash & cash equivalents €1,279m; current financial assets €172m (available funds €1,451m). Net financial liquidity €334m (down €47m vs 31 Dec 2025). Equity ratio 42.7% (unchanged).

CapEx and capital allocation

Capital expenditures €139m (-32.8% YoY) — capex/sales 7.2% (prior 10.3%). Investment focused on development, admin and production network; disciplined allocation reduced outflows vs prior year.

Industry & macro context

Q1 FY2026 light vehicle production down 3.4% YoY to 21.5m units (S&P Global). S&P now forecasts 2026 global production ~91.4m units (-1.8% vs 2025). Report cites geopolitical risks (Middle East, trade measures) and weakening Asia/China demand as headwinds.

Outlook

HELLA confirms FY2026 guidance (issued 23 Feb 2026): currency‑adjusted sales ~€7.4–7.9bn; operating profit margin ~5.4–6.0%; expectation of at least ~1.8% net cash flow to sales. Segment outlook: Lighting below prior year; Electronics moderate sales growth and similar margin; Lifecycle Solutions moderate growth and similar margin.

Corporate / governance

Notable leadership changes: Prof. Dr. Peter Laier appointed President & CEO (took office 15 Feb 2026). Bernard Schäferbarthold left the Management Board 15 Feb 2026. Juan Manuel Mollá appointed Head of Lighting segment (effective 1 Mar 2026).