Company Overview of Schaeffler AG
Schaeffler AG, together with its subsidiaries, develops and manufactures precision products for machines, plants, vehicles, and aerospace applications worldwide. It operates through two divisions, Automotive and Industrial. The Automotive division offers wheel bearings, chassis and steering components, clutch systems, transmission components, torsion dampers, valve train and control systems, camshaft phasing units, electric drives, and engine components for the manufacturers of passenger cars and commercial vehicles, and automotive suppliers, as well as companies focusing on the distribution of spare parts for passenger cars and commercial vehicles. The Industrial division provides rolling a...
Founded in 1883
Key Executives for Schaeffler AG
Chief Executive Officer and Member of The Executive Management Board
Chief Financial Officer and Member of Board of Managing Directors
Chief Operating Officer and Member of the Executive Management Board
Member of the Executive Management Board and Chief Executive Offiver of Automotive
Member of the Executive Management Board and Chief Executive Officer of Automotive
Compensation as of Fiscal Year 2015.
Schaeffler AG Key Developments
Schaeffler Announces Consolidated Earnings Results for the First Half of 2015; Provides Earnings Guidance for the Year 2015
Aug 20 15
Schaeffler AG announced consolidated earnings results for the first half of 2015. The company generated revenue of EUR 6.7 billion in the first half of 2015. This represents growth of 12.4% over the prior year, 4.9% excluding the impact of currency translation. The revenue trend was driven by the company's Automotive business. EBIT increased to EUR 818 million compared to EUR 801 million a year ago. EBITDA was EUR 1,161 million compared to EUR 1,113 million a year ago. The group generated cash inflows from operating activities of EUR 422 million in the first six months of 2015 compared to operating cash outflows of EUR 29 million. Capital expenditures were EUR 501 million compared to EUR 298 million a year ago. The Group reported negative free cash flow of EUR 72 million compared to EUR 325 million a year ago. Free cash flow was affected by the negative impact of one-time outflows related to the refinanced Euro and USD bonds. Net financial debt was EUR 6,245 million compared to EUR 5,778 million a year ago.
For the year 2015, the company expects revenue growth of 5% to 7% at constant currency and an EBIT margin of 12% to 13%.
Schaeffler AG Announces Executive Changes
Apr 28 15
The Supervisory Board of Schaeffler AG has appointed Dr. Stefan Spindler as Member of the Board of Managing Directors at Schaeffler AG as of May 1, 2015. Before joining the Schaeffler Group, Dr. Spindler was a Member of the Executive Board at Bosch Rexroth responsible for the 'Mobile Applications' business division. He is successor to Robert Schullan, CEO of the Industrial division, who will leave the Schaeffler Group at his own request on May 1, 2015 to pursue new career opportunities.
Schaeffler Group Announces Earnings Results for the Full Year of 2014
Mar 26 15
Schaeffler Group announced earnings results for the full year of 2014. The company has generated over EUR 12.1 billion in revenue, representing growth of 8.2% from the prior year. The company's EBIT has increased to EUR 1,523 million compared to EUR 1,008 million a year ago, while the EBIT margin has improved to 12.6% compared to 9.0% a year ago. Net income amounted to EUR 654 million. The company has significantly raised its capital expenditures, investing EUR 857 million compared to EUR 572 million a year ago, in new products and technologies as well as in the expansion of the group's global production network. Cash flows from operating activities before one-time outflows were EUR 1.3 billion compared to EUR 1.0 billion a year ago. One-time outflows amounted to EUR 371 million. This resulted in total positive free cash flow of EUR 48 million for 2014 compared to EUR 473 million a year ago.
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