REGENSBURG (dpa-AFX) – The automotive supplier Vitesco (Vitesco Technologies) expects higher sales this year than before, thanks in part to better automotive production. The proceeds should now be between 9.0 and 9.2 billion euros, as the SDAX company announced on Monday in Regensburg. So far, 8.6 to 9.1 billion euros were planned. In addition to better-than-expected car production figures, especially in China, the weak euro and higher prices are contributing to the somewhat improved outlook. However, further increases in material, energy and transport costs weigh on the company, as CFO Werner Volz said. Vitesco is now assuming an adjusted profit margin before interest and taxes of 2.3 to 2.5 percent in 2022 instead of the previous 2.2 to 2.7 percent. Not all additional costs could be passed on to customers, it said. When it comes to the inflow of cash, the drive specialist is more daring than before.
In the third quarter, sales rose 20 percent year-on-year to 2.3 billion euros. Earnings before interest and taxes, adjusted for special effects, roughly doubled to EUR 47.9 million. On average, analysts had calculated a slightly better result. The corresponding margin was 2.1 percent after 1.3 percent a year earlier./men/stk
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