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Schaeffler AG releases preliminary key figures for the third quarter 2020

·3-min read

Schaeffler AG / Key word(s): Preliminary Results
Schaeffler AG releases preliminary key figures for the third quarter 2020

26-Oct-2020 / 18:00 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.

Schaeffler AG releases preliminary key figures for the third quarter 2020


HERZOGENAURACH | 26 October 2020 | Schaeffler AG (ISIN DE000SHA0159, WKN SHA015) released preliminary key figures for the third quarter 2020 today as they come in above market expectations (Vara Consensus). With 3,396 million EUR revenues of Schaeffler Group in the third quarter were 2.6% below prior year at constant currency (prior year: 3,613 million EUR) showing a clear recovery compared to the first half of the year. The EBIT margin (before special items) reached 9.4% in the third quarter (prior year: 9.1%). The main reason is the better-than-expected revenue development in the third quarter, in particular in the Greater China region. The development of earnings also shows that the measures to adapt costs introduced at the beginning of the year prove effective. The environment continues to be characterized by volatility and uncertainty.


The divisions contributed to the preliminary results of the Schaeffler Group in the third quarter as follows:


Automotive OEM division revenue was 2,165 million EUR (prior year: 2,254 million EUR), a decline of 1.1% at constant currency compared to the prior year. The EBIT margin (before special items) in the third quarter was 8.3% (prior year: 7.0%).


Automotive Aftermarket division revenue was 456 million EUR (prior year: 482 million EUR), a decline of 0.2% at constant currency compared to the prior year. The EBIT margin (before special items) in the third quarter was 18.9% (prior year: 18.1%).


Industrial division revenue was 776 million EUR (prior year: 877 million EUR), a decline of 8.0% at constant currency compared to the prior year. The EBIT margin (before special items) in the third quarter was 7.0% (prior year: 9.4%).


Free cash flow before cash in- and outflows for M&A activities in the third quarter amounted to 333 million EUR (prior year: 362 million EUR).


On that basis, Schaeffler Group's revenues in the first nine months amounted to 8,971 million EUR which is 15.4% below prior year at constant currency due to the coronavirus pandemic (prior year: 10,839 million EUR). The EBIT margin (before special items) in the first nine months was 4.3% (prior year: 8.1%). Free cash flow before cash in- and outflows for M&A activities in the first nine months 2020 amounted to 185 million EUR (prior year: 133 million EUR).


The interim report of Schaeffler Group for the first nine months 2020 will be published as planned on 10 November 2020.


"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 2019 on pages 15 and 30, which may be retrieved under www.schaeffler.com.

 

26-Oct-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

 

 

Contact:

 

Renata Casaro,
Head of Investor Relations,,
Schaeffler AG, Herzogenaurach, Germany
Phone +49 9132 82-4440,
E-Mail: ir@schaeffler.com
 

Dr. Axel Lüdeke,
Vice President Business and Financial Communications & PR,
Schaeffler AG, Herzogenaurach, Germany
Phone +49 9132 82-5000,
E-Mail: presse@schaeffler.com

 

 

Contact:

 

Renata Casaro,
Head of Investor Relations,,
Schaeffler AG, Herzogenaurach, Germany
Phone +49 9132 82-4440,
E-Mail: ir@schaeffler.com
 

Dr. Axel Lüdeke,
Vice President Business and Financial Communications & PR,
Schaeffler AG, Herzogenaurach, Germany
Phone +49 9132 82-5000,
E-Mail: presse@schaeffler.com

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:

1143125


 

End of Announcement

DGAP News Service

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