Schaeffler AG - Earnings Release 2019

News Details

Ad-hoc | 29 July 2019 19:02

Schaeffler AG: Schaeffler adjusts 2019 full-year guidance

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

Schaeffler AG: Schaeffler adjusts 2019 full-year guidance

29-Jul-2019 / 19:02 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.

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

Schaeffler adjusts 2019 full-year guidance

HERZOGENAURACH, July 29, 2019 . Schaeffler AG (ISIN DE000SHA0159, WKN SHA015) today decided to adjust its 2019 full-year guidance for the Schaeffler Group as a whole and for its divisions.

Schaeffler Group now expects global automobile production to decline by 4 percent for 2019. On February 19, 2019 Schaeffler Group had anticipated a decline of 1 percent. This deterioration in market conditions for the group’s Automotive OEM division, in particular in China and Europe, since the beginning of the year and the associated volume effects require an adjustment of the 2019 full-year guidance. Moreover, lower demand from certain key accounts in the Automotive Aftermarket let to a downward revision of the divisional sales guidance, while higher than expected demand in certain sectors in the Industrial division led to an upward revision.

Against this background, the Schaeffler Group now anticipates revenue growth (at constant currency) of minus 1 to plus 1 percent (previously 1 to 3 percent) for 2019, an EBIT margin (before special items) of 7 to 8 percent (previously 8 to 9 percent), and a free cash flow before cash in- and outflows for M&A activities of EUR 350 to 400 million (previously approximately EUR 400 million).

The guidance for each of the three divisions now is as follows:


Divisional guidance	Automotive OEM		Automotive AM		Industrial
	Old	New	Old	New	Old	New
Revenue growth 1) (in %)	1-3%	-2-0%	1-3%	-2-0%	1-3%	2-4%
EBIT margin 2) (in %)	6-7%	5-6%	15-16%	15-16%	10-11%	10-11%

1) at constant currency

2) before special items

“Revenue growth (at constant currency)”, “EBIT margin (before special items)” and “Free cash flow before cash in- and outflows for M&A activities” are defined in the Annual Report 2018 on pages 34f and 56f, which is available at www.schaeffler.com .”

Contact:


Thorsten Möllmann , Senior Vice President Global Communications & Branding, Schaeffler AG, Herzogenaurach, Germany Phone +49 9132 82-5000, e-mail: [email protected]	Renata Casaro , Head of Investor Relations, Schaeffler AG, Herzogenaurach, Germany Phone +49 9132 82-4440, e-mail: [email protected]
Dr. Axel Lüdeke , Vice President Business and Financial Communications & PR, Schaeffler AG, Herzogenaurach, Germany Phone +49 9132 82-5000, e-mail: [email protected]	Jens Briemle , Investor Relations, Schaeffler AG, Herzogenaurach, Germany Phone +49 9132 82-4440, e-mail: [email protected]

29-Jul-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

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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:	SDAX
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange
EQS News ID:	848329