Increased revenues for Schaeffler in H1 2016

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Schaeffler increased revenues by approximately +2,9% in the first half of 2016, to € 6,7 billion, improving ebit margin by 0,5% reaching 12,8%, and with a growth by +60% of net incomes, to € 494 million. The main growth has been reported in the Automotive business, outpacing the increase in production volumes of passenger cars and light commercial vehicles (+2,2%), thanks to strong demand in Greater China and Asia/Pacific.

Industrial business has instead reported a -4,9%, thus remaining stable in revenues for the second quarter 2016 compared to the first quarter, due in large part to a slight growth generated in the Europe region. The result, despite of the considerable growth of sectors such as wind, two wheelers and aerospace, has been adversely affected by economic uncertainties, especially in raw materials and in industrial distribution. Looking at the regions, revenue in the Europe region went up by 2,7%, by 0,3% in the Americas and by 5,3 and 5,9% in Greater China and Asia/Pacific respectively, especially driven by the automotive business. Schaeffler Group is then expecting revenue growth of 3 to 5% for 2016 as a whole, ebit margin of 12 to 13% and free cash flow of approximately € 600 million.

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