Adjusted operating earnings (adjusted EBIT) fell to EUR 257 million in the first half of the year (previous year: EUR 296 million). Reported EBIT fell to 230 million euros (previous year: 537 million euros). This sharp decline is mainly due to the extraordinary income from the sale of the wholesale business in the previous year. "In view of the challenging market environment, our sales and earnings declined as expected in the first half of the year," said Hella CEO Rolf Breidenbach. "We are therefore satisfied with our business development overall," said Breidenbach.
The main reason for the decline in sales in the Automotive segment of 1.6% to 2.8 billion euros was the global decline in vehicle production, which fell by 6.1% in the half-year period. Hella nevertheless considers itself to be in a better situation than its competitors. This is due to the high demand for electronic products, especially in the field of energy management and sensors, as well as strong business development in the American market. As a result of the comparatively lower business volume as well as continued high investments in research and development, the EBIT of this segment fell to 213 million euros (previous year: 244 million euros).