Schaeffler: Solid Start in 2013

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Revenue down slightly to approximately €2.8 billion

Schaeffler CEO Dr. Juergen M. Geissinger
Schaeffler CEO Dr. Juergen M. Geissinger

Schaeffler Group made a solid start in 2013, despite the challenging market environment. With revenue decreasing slightly to approximately €2.8 billion compared to the very strong first quarter of 2012 due to market conditions, Schaeffler continued to maintain the high quality of its earnings, generating an EBIT margin of 12.9 percent. "We successfully remained on course in the first quarter of 2013 despite the still challenging market environment, improving both revenue and net income over those of the previous two quarters. It was mainly the positive trend in the Automotive division that enabled us to maintain our profitability at a high level", stated Schaeffler AG CEO Dr. Juergen M. Geissinger.

Revenue for the first three months of 2013 declined by 3.6 percent to €2.8 billion compared to the prior year quarter, with revenue trends differing between the Automotive and Industrial divisions. Revenue in the Automotive division increased by about three percent to approximately €2.0 billion. Industrial division revenue declined to €768 million or by about 15 percent compared to the prior year quarter, which was this division's strongest quarter to date in terms of revenue.
The company generated EBIT of €355 million (prior year: €401 million). Net income for the period was €233 million (prior year: €235 million).

Posted on May 22, 2013 - (217 views)
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