Schaeffler Maintains Course Amid 2024 Transition

Schaeffler AG reported a steady performance for the first nine months of 2024. Revenue slightly increased by 1.0% at constant currency to €12,233 million, primarily driven by growth in the Vehicle Lifetime Solutions division. Automotive Technologies saw a modest rise, yet Bearings & Industrial Solutions faced a 4.2% revenue decline. The group's EBIT before special items fell to €713 million, reflecting a reduced margin of 5.8%.

Within Automotive Technologies, E-Mobility recorded substantial order intakes. Conversely, Bearings & Industrial Solutions struggled with volume and price challenges. Free cash flow reached €97 million, but this marked a decline from the previous year due to merger-related outflows. Schaeffler successfully integrated Vitesco on October 1, 2024, aiming for enhanced synergies.

Schaeffler anticipates significant constant-currency revenue growth and an EBIT margin of 5% to 8% for 2024. The merger and share standardization are steps towards its strategic Motion Technology Company objective.