PLYMOUTH, Mich. — Hella KGaA Hueck & Co., a tier-one supplier of automotive lighting and electronic components, has reported a seven percent increase in sales, to $5.7 billion during the company’s 2007-08 fiscal year.
Operating profit, measured by earnings before interest and tax (EBIT), grew from $66.8 million during the year-ago period to $209 million. Preliminary fiscal-year results showed a four percent return on sales. Including one-time charges and financing, Hella’s EBIT increased to $336.8 million.
“With the end of fiscal year 2007-08, Hella is practically debt-free,” said Dr. JÜrgen Behrend, chairman and president of Hella. “This is a significant sign for our customers about our financial well-being and ability to carry through with our projects.”
In its official credit opinion, the Moody’s credit rating agency indicated that Hella is fiscally sound. Moody’s gave Hella a credit rating of “Investment Grade, Baa3, stable” and cited the supplier as having sufficient financial liquidity.
“Our positive results for the past fiscal year are remarkable given the slowdown in many parts of the global automotive industry,” noted Dr. Martin Fischer, president of Hella’s U.S. Corporate Center with responsibility for the automotive supplier’s lighting, electronics and aftermarket business units in the United States. “Hella was able to increase sales and profits while investing heavily in new technologies and development projects.”
Hella’s new technologies and product developments include the first full-LED (light-emitting diode) headlamps launched in North America on a high-volume vehicle.
For more information about Hella, go to: http://www.hella.com.
