Schaeffler Generates Record Revenue in the First Half of 2014

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Revenue at new record high of approximately EUR 6.0 bn

Schaeffler Generates Record Revenue in the First Half of 2014
Schaeffler Generates Record Revenue in the First Half of 2014

The international technology group Schaeffler increased its revenue to a new record high of approximately EUR 6.0 bn in the first half of 2014. Revenue grew 6.7 % from the corresponding prior year period. Excluding the impact of currency translation, the Group's operational revenue growth was 9.6 %.

"Our Automotive business again performed considerably above market in the first half of 2014, making it a key driver of our revenue growth," said Klaus Rosenfeld, CEO of Schaeffler AG. Automotive division revenue increased by 8.9 % to approximately EUR 4.4 bn. At constant currency, the division achieved a growth rate of 11.7 %, again significantly higher than the growth in global vehicle production. The Group's Industrial division reported a 0.9 % increase in revenue to approximately EUR 1.6 bn in the first half of 2014. On an FX adjusted basis, revenue at the Industrial division revenue rose by 4.3 %.

The Schaeffler Group's highest growth rate, 25.0 % compared to the first half of 2013, was generated by its Greater China region, followed by the Asia/Pacific region, where revenue increased by 9.1 %. The Europe and Americas regions experienced revenue growth of 5.2 and 1.2 %, respectively, compared to the first half of 2013. Within Europe, particularly the Southern European countries Italy and Spain reported positive revenue trends.

Posted on August 28, 2014 - (123 views)
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