The supplier Hella suffered a slump in profits in the second quarter of the business due to the sluggish auto economy. The bottom line was that Westphalia earned 47 million euros, a good two thirds less than a year earlier, as the company announced on Thursday in Lippstadt. In the months of September to November, as already known, the company came under heavy pressure in terms of sales and earnings because global car production collapsed due to the lack of parts, as company boss Rolf Breidenbach said according to the announcement. Revenue slumped in the quarter by 11 percent to 1.56 billion euros.
Management confirmed the forecast for the 2021/22 financial year (end of May), which was lowered again at the end of November.
Hella has been majority owned by the Faurecia Group since November. The French have secured 79.5 percent of the Hella shares. However, the takeover still has to be approved by the authorities. This was last calculated at the beginning of 2022. The activist US investor Paul E. Singer is now also involved with Hella with 10.75 percent. (dpa / swi)
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