HELLA GmbH & Co. KGaA / Key word(s): Dividend/Forecast
HELLA GmbH & Co. KGaA: Dividend proposal fiscal year 2018/2019 / Outlook fiscal year 2019/2020
24-Jul-2019 / 20:40 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Lippstadt, July 24, 2019
Dividend proposal for financial year 2018/2019
Against the background of the strong balance sheet development and the disposal of the wholesale distribution business, the management and the shareholders' committee of HELLA GmbH & Co. KGaA (WKN: A13SX2 / ISIN: DE000A13SX22) has concluded today to propose to the annual general meeting a special dividend of EUR 2.30 per share for fiscal year 2018/2019 in addition to the regular dividend of EUR 1.05 per share (previous year: EUR 1.05) which corresponds to the communicated dividend policy. The proposed resolution for the annual general meeting is expected to be adopted in connection with the preparation and review of the annual financial statements for the company and the group until August 8, 2019. The amount of the special dividend is approximately equal to the accounting profit of EUR 255 million that HELLA has realized by selling the wholesale distribution business, or approximately two thirds of the cash proceeds from this transaction. In its decision, the management and the shareholders' committee have also taken into consideration the fact that HELLA was able to meet the full year outlook in the fiscal year 2018/2019 in a declining business environment. Based on preliminary figures, HELLA has increased the currency- and portfolio- adjusted sales by 5.0 % and achieved an adjusted EBIT margin of 8.4 % (previous year: 8.3 %).
Outlook financial year 2019/2020
Against the background of increasing uncertainties in the market environment and the resulting further decline in the industry, HELLA expects currency and portfolio adjusted group sales in the range from EUR 6.5 billion to EUR 7.0 billion (prior year portfolio adjusted: approx. EUR 6.8 billion) for fiscal year 2019/2020. Despite the reduced sales expectation and higher material and labor costs HELLA intends to continue its basic approach of further strengthening investments in research and development. Therefore, HELLA expects that the EBIT margin adjusted for restructuring measures and portfolio effects to be in the range from 6.5% to 7.5% (previous year portfolio adjusted: 8.4%).
Definitions for alternative performance measures (APM)
"Adjusted EBIT" is defined in the Annual Report 2017/2018, which is available at "https://www.hella.com/hella-com/en/Annual-Report-and-Consolidated-Financial-Statement-8740.html"
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