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Schaeffler AG: Preliminary key figures for the first quarter 2021 better than expected

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Schaeffler AG / Key word(s): Preliminary Results
Schaeffler AG: Preliminary key figures for the first quarter 2021 better than expected

19-Apr-2021 / 13:01 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Disclosure of inside information pursuant to Article 17 para 1 of the Regulation (EU) 596/2014 on market abuse (Market Abuse Regulation - MAR)

Schaeffler AG: Preliminary key figures for the first quarter 2021 better than expected


HERZOGENAURACH |April 19, 2021 | Schaeffler AG (ISIN DE000SHA0159, WKN SHA015) released preliminary key figures for the first quarter 2021 today as they come in well above the prior year and our own previous expectations for the first quarter. With 3,560 million EUR revenues of Schaeffler Group in the first quarter were 11.2% above prior year at constant currency (prior year (adjusted): 3,281 million EUR) showing a clear recovery. The EBIT margin (before special items) reached 11.3% in the first quarter (prior year (adjusted): 6.5%). Free cash flow before cash in- and outflows for M&A activities in the first quarter amounted to 130 million EUR (prior year (adjusted): 137 million EUR). The main reasons are the better-than-expected revenue momentum in the first quarter, especially in China, as well as a favorable product mix. The development of earnings also shows that the measures to adapt costs introduced last year continue to prove effective.

The three divisions contributed on the basis of preliminary figures as follows:

Divisions

Automotive Technologies

Automotive Aftermarket

Industrial

 

Q1 2021

Q1 20203)

Q1 2021

Q1 20203)

Q1 2021

Q1 20203)

Revenue growth1)

15.8%

-12.1%

4.0%

1.6%

3.9%

-7.7%

EBIT-margin2)

10.8%

2.3%

12.9%

17.2%

11.9%

10.7%

 

1) at constant currency; 2) before special items; 3) adjusted comparative figures for the prior year

The positive development of the Automotive Technologies division's business that began in the fourth quarter 2020 continued in all four regions in the first quarter 2021.

The macro-economic environment is challenging and continues to be characterized by significant uncertainties, including for example the supply markets. The Board of Managing Directors of Schaeffler AG will closely monitor further market developments and will decide in due time if and to what extent an adjustment of the guidance published on March 4, 2021 is appropriate.

The final results for the first quarter 2021 will be published as planned by Schaeffler AG on May 12, 2021.

"Revenue growth (at constant currency)", "EBIT margin (before special items)" und "free cash flow before cash in- and outflows for M&A activities" have the meaning ascribed to them in the annual report 2020 on pages 17 and 35ff, which may be retrieved under www.schaeffler.com. The adjusted comparative figures for the relevant quarter of the prior year may be retrieved under www.schaeffler.com.

 

Contact

Renata Casaro
Head of Investor Relations

Schaeffler AG, Herzogenaurach
Tel.: +49 9132 82-4440
Email: ir@schaeffler.com

Dr. Axel Lüdeke
Vice President Business and Financial Communications & PR

Schaeffler AG, Herzogenaurach
Tel.: +49 9132 82-5000
Email: presse@schaeffler.com

19-Apr-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Schaeffler AG

Industriestr. 1-3

91074 Herzogenaurach

Germany

Phone:

09132 - 82 0

E-mail:

ir@schaeffler.com

Internet:

www.schaeffler.com

ISIN:

DE000SHA0159

WKN:

SHA015

Indices:

SDAX

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1186171


 

End of Announcement

DGAP News Service

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