Schaeffler shows strong results

Schaeffler shows strong results

The Schaeffler Group achieved an EBIT margin before special items of 9.1 percent in the 2021 financial year (previous year: 6.3 percent). The main drivers for this were the further improvement in results in the Industrial division and the Automotive Technologies division in the first half of the year. Structural measures to reduce costs also had a positive effect. The consolidated result attributable to shareholders before special items amounted to 748 million euros (previous year: 321 million euros). On this basis, the Management Board of Schaeffler AG will propose to the Annual General Meeting the payment of a dividend of 50 cents per preference share (previous year: 25 cents).

The Automotive Technologies division achieved sales of 8,436 million euros (previous year: 7,816 million euros). The positive sales development in the reporting year was driven by the recovery trends after the coronavirus pandemic, especially in the first half of the year, while global automobile production developed in the opposite direction in the second half of the year. The division achieved an order intake volume of 10.2 billion euros in the reporting year. Of this, 3.2 billion euros were attributable to the e-mobility division. This means that the original target of 1.5 to 2 billion euros was significantly exceeded. Although growth in global automobile production was subdued in 2021, contrary to original expectations, the Automotive Technologies division recorded significant sales increases in all regions. The Europe region, where sales rose by 7.1 percent after adjusting for currency effects, grew the strongest in absolute terms.

The Automotive Aftermarket division recorded a significant increase in sales in the 2021 financial year. Due to volume, sales revenue rose to the 2019 level at 1,848 million euros (previous year: 1,642 million euros). This corresponds to currency-adjusted growth of 13.0 percent. Sales development was noticeably positive in all regions. Here too, the Europe region is recording the strongest growth in absolute terms. For Klaus Rosenfeld, Chairman of the Board of Management of Schaeffler AG, the 2021 financial year was a successful year despite a difficult environment. In view of current events, he doesn't want to venture an outlook on the future yet. Rosenfeld: “Due to the dramatic developments in connection with Ukraine and the resulting increasing uncertainty and upheaval, we have decided to suspend our forecast, which was internally approved by the Board of Directors on February 22, 2022, before the invasion.”