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August 21, 2015

GERMANY: Schaeffler H1 revenue up 12% to EUR6.7bn

Schaeffler has posted first half revenue up 12% to EUR6.7bn (US$7.5bn) , with EBIT margin remaining at 12.2%.

Schaeffler has posted first half revenue up 12% to EUR6.7bn (US$7.5bn) , with EBIT margin remaining at 12.2%.

“We have continued along our path of profitable growth during the first half of 2015,” said Schaeffler CEO, Klaus Rosenfeld.

“Our business has now grown for six consecutive quarters.”

The revenue trend was driven by the company’s automotive business.

With its growth rate of 14% compared to the prior year (+6.9% at constant currency), Schaeffler’s automotive division outpaced the increase in global production volumes of passenger cars and light commercial vehicles (+0.8%).

Schaeffler says the division benefited from continued high demand for its products, especially in the key sales markets of greater China and the US.

The industrial business reported revenue growth of 7.5%.

Growth was primarily generated in Schaeffler Group’s greater China region, where revenue was mainly bolstered by high demand in the wind power sector.

Excluding the impact of currency translation, industrial division revenue declined by 0.8%.

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