Company Overview of Schaeffler AG
Schaeffler AG, together with its subsidiaries, develops and manufactures high-precision products for machines, equipment, vehicles, and aviation and aerospace applications worldwide. It operates in two segments, Automotive and Industrial. The Automotive segment offers wheel bearings; chassis and steering components; transmission components; torsion dampers; valve train systems; camshaft phasing units; electric drives; engine components; and valve control systems for the automotive sector, as well as distributes spare parts for passenger cars and commercial vehicles. The Industrial segment provides rolling and plain bearings, linear guidance systems, maintenance products, monitoring systems, ...
Founded in 1883
Key Executives for Schaeffler AG
Deputy Chief Executive Officer
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 2014.
Schaeffler AG Key Developments
Schaeffler Announces Earnings Results for the First Half Ended June 30, 2014; Reiterates Earnings Guidance for the Full Year of Fiscal 2014
Aug 27 14
Schaeffler announced earnings results for the first half ended June 30, 2014. For the six months, the company announced that its net profit improved by EUR 13 million to EUR 574 million (USD 721 million) mainly due to the strong growth in China. Revenue grew 6.7% to about EUR 6 billion in the first half, driven by the automotive business which performed above market. Earnings before interest and tax (EBIT) climbed by EUR 63 million to EUR 787 million. Operating income was up 1.1% year over year to EUR 373 million, but net income fell 41.5% year on year to EUR 192 million. Capital expenditure increased by 32.4% year on year to EUR 143 million. Cash flows from operating activities amounted to EUR 117 million against EUR 606 million a year ago.
The company re-iterated earnings guidance for the full year of fiscal 2014. The company announced that despite geopolitical tension around the world, it is reiterated its forecast for an operating EBIT margin of between 12% and 13% for 2014 and revenue growth of more than 7%.
Schaeffler AG Presents at Berenberg and Goldman Sachs Third Annual German Corporate Conference, Sep-24-2014
Jul 9 14
Schaeffler AG Presents at Berenberg and Goldman Sachs Third Annual German Corporate Conference, Sep-24-2014 . Venue: Dolce Munich Unterschleissheim, Andreas-Danzer-Weg 1, 85716 Unterschleissheim, Germany.
Schaeffler AG Announces Executive Changes
Jun 5 14
Schaeffler AG announced the appointment of Klaus Rosenfeld as it's new CEO for a five-year term. It has also extended chief technology officer (CTO) Peter Gutzmer's contract by another five years. Gutzmer will also become deputy CEO of Schaeffler.
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