March 18, 2020 / 12:40 PM / 16 days ago

BRIEF-Hella Cuts Outlook Due To Covid-19 Pandemic

March 18 (Reuters) - HELLA GMBH & CO KGAA:

* BUSINESS DEVELOPMENT SO FAR IN LINE WITH EXPECTATIONS, BUT ADJUSTMENT OF COMPANY OUTLOOK NECESSARY DUE TO COVID-19 PANDEMIC

* 9-MONTH ADJUSTED OPERATING PROFIT (ADJUSTED EBIT) FELL TO 347 MILLION EUROS (PREVIOUS YEAR: 410 MILLION EUROS)

* CURRENCY AND PORTFOLIO-ADJUSTED FY SALES DECREASED BY 3.7 PERCENT TO EUR 4.8 BILLION (PREVIOUS YEAR: EUR 5.0 BILLION)

* FY EBIT MARGIN ADJUSTED FOR RESTRUCTURING MEASURES AND PORTFOLIO EFFECTS IS ESTIMATED TO FALL CONSIDERABLY BELOW ORIGINALLY FORECASTED TARGET OF 6.5 PERCENT TO 7.5 PERCENT

* 9-MONTH OF 2019/2020 FINANCIAL YEAR, SALES DECREASED ON A PROVISIONAL BASIS CURRENCY-ADJUSTED AND PORTFOLIO-ADJUSTED BY 3.7 PERCENT TO EUR 4.8 BILLION

* FOR FY 2019/2020, EXPECTS EXPECTS CURRENCY AND PORTFOLIO-ADJUSTED SALES TO BE BELOW THE ORIGINALLY FORECAST RANGE OF AROUND 6.5 BILLION EUROS TO 7.0 BILLION EUROS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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