Schaeffler AG - Earnings Release 2017

News Details

Ad-hoc | 26 June 2017 22:00

Schaeffler AG reduces its earnings guidance for 2017

Schaeffler AG / Key word(s): Change in Forecast

26-Jun-2017 / 22:00 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

Schaeffler AG reduces its earnings guidance for 2017

Herzogenaurach, June 26, 2017. The Board of Managing Directors of Schaeffler AG has decided today to reduce its guidance for the EBIT margin before special items from hitherto 12-13 percent to 11-12 percent for the business year 2017. This is due to a substantially lower earnings development in the second quarter 2017 compared to the previous year. At the same time, guidance for Free Cash Flow has been reduced from approximately 600 million EUR to approximately 500 million EUR for 2017.

While results in the Industrial business are developing in line with expectations, the lower EBIT development of the Schaeffler Group in the second quarter 2017 is primarily due to the following reasons:

1. Increased pricing pressure in the Automotive OEM business and rising cost for new product launches

2. Higher R&D cost and other expenses due to additional projects in the area of e-mobility

3. Temporary supply chain shortages in the Automotive Aftermarket business

The Schaeffler Group confirms its revenue guidance for the full year. The company continues to expect its revenue to grow by 4-5 percent excluding the impact of currency translation for the business year 2017.

The Schaeffler Group plans to pre-release preliminary results for the first half of 2017 by mid July. From today’s point of view, the company expects revenue growth excluding the impact of currency translation of approximately 4 percent and an EBIT margin before special items of approximately 11 percent in the first six months 2017.

Christoph Beumelburg

Senior Vice President Communication, Marketing, and Investor Relations

26-Jun-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.dgap.de


Language:	English
Company:	Schaeffler AG
	Industriestr. 1-3
	91074 Herzogenaurach
	Germany
Phone:	09132 – 82 0
E-mail:	[email protected]
Internet:	www.schaeffler.com
ISIN:	DE000SHA0159
WKN:	SHA015
Indices:	MDAX
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange; Luxemburg