Hella has posted annual group sales up 9.2% to EUR5.8bn (US$6.4bn) for the fiscal year ending 31 May.

“The past fiscal year was very successful,” said Hella CEO, Rolf Breidenbach.

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“We achieved our targets: Hella continued its growth significantly above market level and we also increased profitability.”

The company says its automotive business benefited from strong demand in financial year 2014/2015. External sales grew by 11% to EUR4.4bn (previous year: EUR3.9bn) and profit in the sector rose to EUR354m (previous year EUR291m).

The continued growth was driven by market demand as well as several new product launches, which included headlamps with complex LED technology and electronic systems for driver assistance and energy management.

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The aftermarket segment, which had been weak in the first half, increased external revenues by 5% to EUR1.13bn (previous year: EUR1.08bn) mainly on the back of wholesale activities in Denmark and Poland.

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Adjusted operating earnings decreased slightly to EUR73m (previous year: EUR78m).

The Special Applications business was severely hit by weak agricultural demand in the past fiscal year, particularly as a result of the Ukrainian crisis.

External sales fell by 10% to EUR308m (previous year: EUR343m) EBIT declined to EUR19m (previous year: EUR28m).

Hella adds it expects the positive business development to continue in the current financial year.

For financial year 2015/2016, Hella Group plans to grow sales and EBIT in the middle to high single-digit percentage range.