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Schaeffler confirms annual forecast

10 Oct,2018

The global automotive and industrial supplier Schaeffler today confirmed its forecast for the year 2018 for the Schaeffler Group. Accordingly, the Group continues to anticipate currency-adjusted sales growth of 5 to 6 percent, an EBIT margin before special effects of 10.5 to 11.5 percent, and free cash flow before cash inflows and outflows for M & A activities of around 450 million euros.

For the Automotive OEM segment, Schaeffler expects market-driven sales growth of 4.5 to 5.5 percent for the year 2018 (previously: 6 to 7 percent). This is due to a slowdown in demand in the Greater China and Europe regions. At the same time, the Group now expects sales growth of 8 to 9 percent (previously 6 to 7 percent) on a currency-adjusted basis given the positive development of the industrial business and an increase in incoming orders for the Industry division. On this basis, the Industry Division expects an EBIT margin before special items of between 10 and 11 percent (previously: 9 and 10 percent), while for the Automotive OEM division with an EBIT margin before special items of 8.5 to 9.5 percent Percent (previously: 9.5 to 10.5 percent).

For the Automotive Aftermarket division, the forecast for sales growth before currency effects of 3 to 4 percent and an EBIT margin before special items of 16.5 to 17.5 percent remains unchanged.

The Schaeffler Group expects to reach the upper end of the respective target corridors in view of margin expectations in the Automotive Aftermarket and Industrial divisions.

Klaus Rosenfeld, Chairman of the Board of Management of Schaeffler AG, said in the run-up to the Capital Markets Day in Berlin on September 20: "As already suggested after the second quarter, we are operating in the automotive business in a persistently challenging environment. Nevertheless, due to the strong industrial business, we can confirm our forecast for the Schaeffler Group for the year. This is possible because we are automotive and industrial suppliers. "

At the Capital Markets Day, the Schaeffler Group's strategy will be presented and, for the first time, all three divisions of the Group will be presented. The event is aimed exclusively at financial analysts and institutional investors. The presentations will be published on September 20 at 7:00 am on the Group's homepage .