Schaeffler, international supplier to the automotive and industrial sector, continued to perform well during the first nine months of the year despite difficult economic conditions. "The situation in our markets deteriorated further during the third quarter. Our Industrial business in particular felt the impact of the difficult economic conditions in Europe and the slowdown in the economic development of the emerging countries over the course of the third quarter. However, we were able to again grow profitably within this challenging environment during the third quarter," stated Schaeffler AG CEO Dr. Juergen M. Geissinger.
The Schaeffler Group's revenue increased by four percent to approximately €8.4 billion during the first nine months of 2012. The Automotive division expanded by seven percent to approximately €5.8 billion, while Industrial division revenue remained stable at approximately €2.6 billion. Regional revenues for the first three quarters still varied. While revenue growth in North America accelerated slightly to 20 percent, revenue for the Asia/Pacific region rose by ten percent, less than during the first six months. Growth in Europe amounted to one percent. South American revenue fell by twelve percent.
As expected, the company's EBIT of €1,144 million fell short of the exceptionally high prior year level of €1,349 million. The EBIT margin for the first nine months was 13.6 percent (prior year: 16.7 percent). Net income for the period excluding non-controlling interests amounted to €731 million (prior year: €743 million).