Schaeffler increases net income by 14 percent in 2017
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2017 revenue increases by 5.9
2017 EBIT margin before special items at 11.3
Net income increases by approximately 14 percent to 980 million euros
Approximately 1.3 billion euros invested, 3,500 new jobs created
Net financial debt further reduced, quality of balance sheet further improved
Program for the future ?Agenda 4 plus One? on track, three divisions going forward
Outlook 2018 positive despite imponderables
Global automotive and industrial supplier Schaeffler increased its revenue to 14.0
In 2017, the Schaeffler Group increased its capital expenditures by 127ins generally positive.
Revenue increases by 5.9 percent at constant currency
Both of the company?s divisions and all four of its regions contributed to the encouraging revenue trend in 2017. While Automotive division revenue increased to 10.9
Thanks to the strong second half of the year, the Automotive division has once again grown faster than the market ? global production of passenger cars and light commercial vehicles ? for the full year. Given market growth of approximately 2.1digit growth rates.
All regions of the Schaeffler Group contributed to the increase in revenue in 2017. The Greater China region once again turned in the highest constant currency growth rate of 24.1
2017 EBIT margin before special items at 11.3
Earnings before financial result and income taxes (EBIT) before special items were 1,584 million euros (prior year: 1,700
Net income increases by approximately 14 percent to 980 million euros
Despite the adverse impact from operations, net income attributable to shareholders increased by approximately 14 percent to 980
Approximately 1.3 billion euros invested, 3,500 new jobs created
The Schaeffler Group expanded its capital expenditures by 127 million euros to 1,273
The Schaeffler Group has also generated 3,489 new jobs in 2017. As at December 31, 2017, the group had 90,151 employees worldwide, 4
Klaus Rosenfeld, CEO of Schaeffler AG, stated: ?In 2017, the Schaeffler Group has invested more than ever before. These investments, including those under our program for the future ?Agenda 4 plus One?, secure the company?s continuing profitable growth and value creation. They are also the basis for bringing our EBIT before special items back to its longstanding average of 12 to 13 percent and for achieving the financial ambitions we have set for 2020.?
Net financial debt further reduced, quality of balance sheet further improved
The company lowered its net financial debt by approximately 266 from 1.1x to 1.0x in 2017.
Free cash flow for 2017 came in at 488&A activities. Excluding these outflows, free cash flow was slightly higher than the guidance for the full year 2017 of approximately 500
?We were able to further reduce our net financial debt and thus create additional financial flexibility for the Schaeffler Group in 2017. This is essential to our ability to grow externally in the future, as well,? said Dietmar Heinrich, CFO of Schaeffler AG.
Program for the future ?Agenda 4 plus One? on track, three divisions going forward
In 2016, Schaeffler developed and started its program for the future, ?Agenda 4 plus One?, which is designed to position the Schaeffler Group for success in meeting the challenges of the future, thus laying the foundation for continued profitable long-term growth. In 2017, the program was expanded to 20 initiatives and its implementation accelerated.
In addition, the Schaeffler Group has a new corporate structure. The Automotive Aftermarket was added as the company?s third division along with Automotive OEM and Industrial effective JanuaryAutomotive Aftermarket division is managed from Langen. The Industrial division continues to be located in Schweinfurt. The corporate head office of the Schaeffler Group is in Herzogenaurach. This new decentralized structure shapes the Schaeffler Group?s future, makes it even more market-oriented, simplifies the company?s structures, and speeds up decision-making.
The company is also still consistently pursuing its ?One Schaeffler? approach. With one common strategy ?Mobility for tomorrow?, a uniform remuneration system, four common values, and one common corporate brand ?Schaeffler?. Please refer to the second press release ?Schaeffler pushes ahead with key future program? for further details.
Outlook 2018 positive despite imponderables
Despite the imponderables affecting 2018, the Schaeffler Group expects its revenue to grow by 5 to 6 percent excluding the impact of currency translation. In addition, the company expects to generate an EBIT margin before special items of 10.5&A
The Schaeffler Group anticipates that its Automotive OEM division will continue to outperform the global automobile production of passenger cars and light commercial vehicles, expected to expand by about 2
Based on stable growth in the global vehicle population and a nearly unchanged average vehicle age, the Aftermarket business will continue to grow as well. Based on its own observation of the market, the group expects the Automotive Aftermarket division to generate revenue growth - excluding the impact of currency translation - of 3
In the Industrial division, an encouraging trend in order intake combined with the economic environment in certain sectors suggests a further increase in revenue in 2018. Based on these considerations, the company expects its Industrial division to generate 3 to 4 percent (2017: 5.7 percent) in revenue growth in 2018, excluding the impact of currency translation. In addition, the Industrial division anticipates generating an EBIT margin before special items of between 9 and
In closing, Klaus Rosenfeld, CEO, said: ?We have decided to further accelerate implementation of our ?Agenda 4 plus One? with its 20 initiatives in 2018. With this program, we are well equipped to actively shape the challenges of the future. In the interest of our customers and business partners, we want to create value and increase our competitiveness. To do that, we want to and have to become more agile as well as quicker and bolder.?
Our annual report is available at:
http://www.schaeffler-annual-report.com
Forward-looking statements and projections
Certain statements in this press release are forward-looking statements. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. No one undertakes any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. You should not place any undue reliance on forward-looking statements which speak only as of the date of this press release. Statements contained in this press release regarding past trends or events should not be taken as representation that such trends or events will continue in the future. The cautionary statements set out above should be considered in connection with any subsequent written or oral forward-looking statements that Schaeffler, or persons acting on its behalf, may issue.
The Schaeffler Group is a global automotive and industrial supplier. Top quality, outstanding technology, and exceptionally innovative spirit form the basis for the continued success of the company. By delivering high-precision components and systems in engine, transmission, and chassis applications, as well as rolling and plain bearing solutions for a large number of industrial applications, the Schaeffler Group is already shaping "Mobility for tomorrow" to a significant degree. The technology company generated sales of approximately EUR 14 billion in 2017. With more than 90,000 employees, Schaeffler is one of the world''s largest family companies and, with approximately 170 locations in over 50 countries, has a worldwide network of manufacturing locations, research and development facilities, and sales companies.
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The Schaeffler Group is a global automotive and industrial supplier. Top quality, outstanding technology, and exceptionally innovative spirit form the basis for the continued success of the company. By delivering high-precision components and systems in engine, transmission, and chassis applications, as well as rolling and plain bearing solutions for a large number of industrial applications, the Schaeffler Group is already shaping "Mobility for tomorrow" to a significant degree. The technology company generated sales of approximately EUR 14 billion in 2017. With more than 90,000 employees, Schaeffler is one of the world''s largest family companies and, with approximately 170 locations in over 50 countries, has a worldwide network of manufacturing locations, research and development facilities, and sales companies.
Datum: 07.03.2018 - 07:48 Uhr
Sprache: Deutsch
News-ID 1533460
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