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Schaeffler AG
Earnings Release • Nov 4, 2025
379_rns_2025-11-04_cb84a9ed-ba61-47d5-a338-7ae926252e06.pdf
Earnings Release
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SCHAEFFLER
We pioneer motion
Interim Statement 9M 2025
Highlights 9M 2025
Revenue slightly below prior year compared on pro-forma basis
Revenue at EUR 17.7 bn (down 1.3% at constant currency)
(prior year: EUR 18.4 bn)1
EBIT margin slightly above prior year compared on pro-forma basis
EBIT margin before special items 4.2%
(prior year: 4.0%)1
Free cash flow positive and improved considerably compared on pro-forma basis
Free cash flow before cash in- and outflows for M&A activities at EUR 47 m
(prior year: EUR 97 m)
1 Amounts on comparable basis. Please refer to the related discussion on page 4.
Significant events
Organizational realignment
Starting January 1, 2025, the Schaeffler Group structures its reports based on the E-Mobility, Powertrain & Chassis, Vehicle Lifetime Solutions, and Bearings & Industrial Solutions divisions, which are managed based on product-focused business divisions. The remaining business activities not assigned to any of these divisions are combined in the Others division. Moreover, Schaeffler AG's Board of Managing Directors decided in early 2025 to establish the Aerospace Bearings unit (until Q1 2025: part of the Industrial Bearings business division) as a separate business division of the Bearings & Industrial Solutions division starting in the second quarter of 2025. Additionally, the Schaeffler Group continues to divide its business in four regions – Europe, Americas, Greater China, and Asia/Pacific.
More on the new reporting structure in effect since January 1, 2025, in the Schaeffler Group's annual report 2024 on pp. 5 et seq.
International tariff and trade policy developments
The discussion started by the United States of America in 2025 regarding changes to import tariffs for many countries and product groups has changed the global tariff landscape and led to an increase in trade conflicts. It is expected that this will have implications for the Schaeffler Group's sales and procurement markets. The Schaeffler Group is monitoring these developments on an ongoing basis and is taking appropriate adjustment measures.
Bond issuance
Schaeffler AG issued a total of EUR 1.15 bn in bonds under its debt issuance program on March 25, 2025. The transaction consisted of two tranches (EUR 550 m with a coupon of 4.250%, due in April 2028, and EUR 600 m with a coupon of 5.375%, due in April 2031) and was settled on April 1, 2025. The new bonds are listed on the Luxembourg Stock Exchange. The proceeds of the issuance serve general corporate and financing purposes, including redemption of the Schuldschein tranches due in May 2025 and the bond series due in October 2025.
Annual general meeting of Schaeffler AG
The annual general meeting on April 24, 2025, passed a resolution to pay a dividend of EUR 0.25 per common share (prior year: EUR 0.44 per common share and EUR 0.45 per common nonvoting share) to Schaeffler AG's shareholders for 2024. The dividend was paid on April 28, 2025. The conversion of the bearer shares into registered shares also resolved upon by the annual general meeting took place in late June 2025.
Changes to Board of Managing Directors
Christophe Hannequin became a member of the Board of Managing Directors and Chief Financial Officer of Schaeffler AG effective September 1, 2025. He was appointed for a three-year term of office, until the end of August 31, 2028. Christophe Hannequin succeeds Claus Bauer, who left the Schaeffler AG Board of Managing Directors when his contract expired on August 31, 2025.
On September 29, 2025, the Schaeffler Group announced that Andreas Schick, member of the Board of Managing Directors and Chief Operating Officer of Schaeffler AG since April 2018, will not be extending his contract. Andreas Schick's current contract is due to expire on March 31, 2026.
Capital Markets Day: Updated strategy and medium-term targets
At its first Capital Markets Day following the acquisition of Vitesco Technologies Group AG, the Schaeffler Group presented an update on the company's strategy and the Mid-Term Targets 2028 on September 16, 2025. The new structure of the combined company is designed to create the basis for the Schaeffler Group to become the leading Motion Technology Company. The Schaeffler Group's strategic ambition is to be a top 3 global player in each of its four divisions – E-Mobility, Powertrain & Chassis, Vehicle Lifetime Solutions, and Bearings & Industrial Solutions. In order to achieve the medium-term targets, the company's main focus over the next three years will be on rigorous order book execution in the E-Mobility and Powertrain & Chassis divisions, on the structural performance improvement measures, and on optimizing its current business portfolio. Additionally, the Schaeffler Group increasingly relies on sustainability, digitalization, and the use of artificial intelligence to power the transformation and to access new areas of innovation.
About this report
Since January 1, 2025, the Schaeffler Group structures its reports based on the E-Mobility, Powertrain & Chassis, Vehicle Lifetime Solutions, and Bearings & Industrial Solutions divisions and the Others division.
More on the new reporting structure in effect since January 1, 2025, in the Schaeffler Group's annual report 2024 on pp. 5 et seq.
As Vitesco was acquired in two steps (approximately 38.9% of the shares effective January 5, 2024, and full acquisition effective October 1, 2024) and was therefore consolidated in stages, Vitesco's 2024 operations are only partially included in the figures reported by the Schaeffler Group.
In the first three quarters of 2024, only the proportionate share of Vitesco's earnings (corresponding to the approximately 38.9% interest held) was included in the Schaeffler Group's net income via the "net income (loss) from equity-accounted investees" line. As a result, the view of Vitesco for the first three quarters of 2024 is limited to the minority interest and the "net income (loss) from equity-accounted investees" line in the income statement. Consolidation of Vitesco, which fully reflects Vitesco's operations within the Schaeffler figures, did not occur until the fourth quarter of 2024.
The significant effects shown, i.e., the significant increase in revenue and the shift in earnings quality, are purely acquisitiondriven and unsuitable for adequately presenting the performance of the merged company, due to the limited basis for comparison. For this reason, the Schaeffler Group has inserted an additional column (pro-forma comparison) in the tables for purposes of the main discussion of earnings. The comparative amounts underlying this column are based on the assumption that Vitesco was acquired as at January 1, 2024, and is therefore included in full in the prior year amounts.
The pro-forma comparison extends beyond the pure impact of the acquisition. It also consistently reflects the policy for corporate charges. This also changes the pro-forma earnings of the Bearings & Industrial Solutions division despite this division not being significantly affected by the acquisition.
Vehicle production in the global automotive market increased slightly during the reporting period. At the same time, the structural shift in drive types continued. While production volumes of vehicles with conventional internal combustion engines declined considerably, production of electrified vehicles rose. This trend resulted in revenue growth of 7.9% at the E-Mobility division, compared on a pro-forma basis and excluding the impact of currency translation, with especially product ramp-ups in the Europe region facilitating a considerable increase in volume. At the same time, the above market environment resulted in a 6.4% decline in revenue at the Powertrain & Chassis division, compared on a pro-forma basis and excluding the impact of currency translation, primarily due to lower demand from customers in the Europe and Americas regions. The Vehicle Lifetime Solutions division generated 5.0% in additional revenue, compared on a pro-forma basis and excluding the impact of currency translation, mainly due to higher volumes. Bearings & Industrial Solutions division revenue was flat with prior year, compared on a pro-forma basis and excluding the impact of currency translation. The market-driven decline in volumes in the Europe region was offset by higher volumes in the Greater China region.
The EBIT margin before special items was slightly above prior year, compared on a pro-forma basis.
| 1st nine months | 3rd quarter | |||||||
|---|---|---|---|---|---|---|---|---|
| Change | Pro-forma compari son 1) |
Change | Pro-forma compari son 1) |
|||||
| in € millions | 2025 | 2024 | in % | in % | 2025 | 2024 | in % | in % |
| Revenue | 17,672 | 12,233 | 44.5 | -3.8 | 5,826 | 3,957 | 47.3 | -2.0 |
| • at constant currency | 48.2 | -1.3 | 52.2 | 1.3 | ||||
| Revenue by division | ||||||||
| E-Mobility | 3,705 | 952 | > 100 | 4.9 | 1,286 | 336 | > 100 | 1.6 |
| • at constant currency | > 100 | 7.9 | > 100 | 4.7 | ||||
| Powertrain & Chassis | 6,741 | 4,232 | 59.3 | -8.6 | 2,194 | 1,332 | 64.7 | -3.6 |
| • at constant currency | 63.2 | -6.4 | 70.1 | -0.4 | ||||
| Vehicle Lifetime Solutions | 2,303 | 1,991 | 15.7 | 2.6 | 740 | 657 | 12.5 | -0.2 |
| • at constant currency | 18.4 | 5.0 | 15.3 | 2.3 | ||||
| Bearings & Industrial Solutions | 4,811 | 4,941 | -2.6 | -2.6 | 1,570 | 1,599 | -1.8 | -1.8 |
| • at constant currency | -0.2 | -0.2 | 2.2 | 2.2 | ||||
| Others | 111 | 118 | -5.3 | -59.0 | 37 | 32 | 13.9 | -45.4 |
| • at constant currency | -2.7 | -57.8 | 18.0 | -43.4 | ||||
| Revenue by region 2) | ||||||||
| Europe | 8,223 | 5,462 | 50.6 | -4.3 | 2,690 | 1,729 | 55.5 | -2.0 |
| • at constant currency | 51.0 | -4.0 | 56.2 | -1.6 | ||||
| Americas | 4,051 | 2,809 | 44.2 | -2.9 | 1,333 | 892 | 49.6 | -0.1 |
| • at constant currency | 51.8 | 2.2 | 57.2 | 5.0 | ||||
| Greater China | 2,969 | 2,352 | 26.2 | -6.5 | 1,002 | 802 | 24.9 | -4.3 |
| • at constant currency | 30.2 | -3.6 | 32.6 | 1.6 | ||||
| Asia/Pacific | 2,428 | 1,609 | 50.9 | 0.1 | 801 | 534 | 50.1 | -2.4 |
| • at constant currency | 58.8 | 5.3 | 61.4 | 4.9 | ||||
| Cost of sales | -14,185 | -9,405 | 50.8 | -3.7 | -4,749 | -3,095 | 53.5 | -1.3 |
| Gross profit | 3,487 | 2,828 | 23.3 | -4.0 | 1,077 | 862 | 24.9 | -5.2 |
| • in % of revenue | 19.7 | 23.1 | – | 19.8 3) | 18.5 | 21.8 | – | 19.1 3) |
| Research and development expenses | -1,214 | -618 | 96.5 | -390 | -203 | 92.1 | ||
| Selling and administrative expenses | -1,800 | -1,427 | 26.1 | -643 | -466 | 38.1 | ||
| Other income and expense | -68 | 42 | – | -67 | 4 | – | ||
| Income (loss) from equity-accounted investees 4) | 1 | -94 | – | 0 | -60 | – | ||
| Earnings before financial result and income taxes (EBIT) • in % of revenue |
406 2.3 |
730 6.0 |
-44.4 – |
-46.4 4.1 3) |
-23 -0.4 |
137 3.5 |
– – |
– 3.2 3) |
| Special items 5) | ||||||||
| 340 | -33 | – | – | 288 | 35 | > 100 | > 100 | |
| EBIT before special items | 746 | 697 | 7.0 | 1.2 | 264 | 172 | 53.7 | 28.1 |
| • in % of revenue | 4.2 | 5.7 | – | 4.0 3) | 4.5 | 4.3 | – | 3.5 3) |
| Financial result | -271 | -228 | 19.0 | -98 | -81 | 21.4 | ||
| Income taxes | -358 | -265 | 35.3 | -159 | -96 | 66.1 | ||
| Net income (loss) 6) | -244 | 218 | – | -287 | -45 | > 100 | ||
| Earnings per common share (basic/diluted, in €) | -0.26 | 0.33 | – | -0.31 | -0.07 | > 100 |
1) Amounts on comparable basis. Please refer to the related discussion on page 4.
2) Based on market (customer location).
3) Not a comparative amount; relevant prior year earnings measure underlying pro-forma comparison in % of revenue.
4) Income (loss) from equity-accounted investees for 2024 was not allocated to the operating divisions but instead remained in the Others division.
5) Please refer to pp. 10 et seq. for the definition of special items.
6) Attributable to shareholders of the parent company.
E-Mobility division earnings
Revenue increased by 7.9% in the first nine months of 2025, compared on a pro-forma basis and excluding the impact of currency translation. The main driver was increased production of electrified vehicles. The revenue growth was reported by all regions except Greater China, where revenue declined.
Revenue for the Electric Drives business division (BD) rose by a considerable 17.7%, compared on a pro-forma basis and excluding the impact of currency translation, primarily due to productramp ups in the Europe and Americas regions. Product phaseouts in the Greater China region were more than offset by the ramp-up of their successor generation in the Asia/Pacific region. The Controls BD reported an 8.1% increase in revenue as well, compared on a pro-forma basis and excluding the impact of currency translation. Product-ramp ups in the Europe and Americas regions contributed significantly to this growth as well. In contrast, Mechatronics & Modules BD revenue declined by 8.2%, compared on a pro-forma basis and excluding the impact of currency translation, mainly due to lower volumes of a few projects in the Europe region.
The improvement in EBIT margin before special items in the first nine months of 2025 was largely the result of volume growth.
| 1st nine months | 3rd quarter | |||||||
|---|---|---|---|---|---|---|---|---|
| in € millions | 2025 | 2024 | Change in % |
Pro-forma compari son 1) in % |
2025 | 2024 | Change in % |
Pro-forma compari son 1) in % |
| Revenue | 3,705 | 952 | > 100 | 4.9 | 1,286 | 336 | > 100 | 1.6 |
| • at constant currency | > 100 | 7.9 | > 100 | 4.7 | ||||
| Revenue by business division | ||||||||
| Electric Drives | 1,120 | 427 | > 100 | 14.6 | 389 | 170 | > 100 | -0.8 |
| • at constant currency | > 100 | 17.7 | > 100 | 2.1 | ||||
| Controls | 2,033 | 10 | > 100 | 5.0 | 700 | 6 | > 100 | 3.5 |
| • at constant currency | > 100 | 8.1 | > 100 | 6.8 | ||||
| Mechatronics & Modules | 552 | 515 | 7.2 | -10.9 | 197 | 161 | 22.3 | -0.2 |
| • at constant currency | 10.4 | -8.2 | 25.9 | 2.7 | ||||
| Revenue by region 2) | ||||||||
| Europe | 1,926 | 322 | > 100 | 9.4 | 663 | 121 | > 100 | 1.3 |
| • at constant currency | > 100 | 10.2 | > 100 | 1.5 | ||||
| Americas | 639 | 185 | > 100 | 10.6 | 218 | 58 | > 100 | 13.1 |
| • at constant currency | > 100 | 16.8 | > 100 | 18.4 | ||||
| Greater China | 533 | 339 | 57.3 | -21.4 | 186 | 123 | 51.8 | -20.1 |
| • at constant currency | 62.8 | -18.7 | 61.3 | -15.1 | ||||
| Asia/Pacific | 608 | 106 | > 100 | 17.5 | 219 | 34 | > 100 | 17.7 |
| • at constant currency | > 100 | 24.9 | > 100 | 26.7 | ||||
| Cost of sales | -3,571 | -1,013 | > 100 | 2.2 | -1,227 | -363 | > 100 | 0.4 |
| Gross profit | 135 | -61 | – | > 100 | 59 | -26 | – | 33.0 |
| • in % of revenue | 3.6 | -6.4 | – | 1.1 3) | 4.6 | -7.8 | – | 3.5 3) |
| Research and development expenses | -538 | -186 | > 100 | -174 | -65 | > 100 | ||
| Selling and administrative expenses | -292 | -108 | > 100 | -110 | -37 | > 100 | ||
| Other income and expense | 3 | 9 | -63.7 | -6 | 1 | – | ||
| Earnings before financial result and income taxes (EBIT) | -692 | -346 | > 100 | -15.6 | -231 | -127 | 80.9 | 3.6 |
| • in % of revenue | -18.7 | -36.3 | – | -23.2 3) | -17.9 | -37.9 | – | -17.6 3) |
| Special items 4) | 42 | 3 | > 100 | 95.4 | 42 | 3 | > 100 | > 100 |
| EBIT before special items | -650 | -343 | 89.5 | -18.6 | -189 | -125 | 51.6 | -12.0 |
| • in % of revenue | -17.5 | -36.0 | – | -22.6 3) | -14.7 | -37.0 | – | -16.9 3) |
1) Amounts on comparable basis. Please refer to the related discussion on page 4.
2) Based on market (customer location).
3) Not a comparative amount; relevant prior year earnings measure underlying pro-forma comparison in % of revenue.
4) Please refer to pp. 10 et seq. for the definition of special items.
Powertrain & Chassis division earnings
Revenue decreased by 6.4% in the first nine months of 2025, compared on a pro-forma basis and excluding the impact of currency translation, significantly driven by a decline in demand from the established Western manufacturers in the Europe region. The strategic streamlining of the portfolio had an additional impact.
Engine and Transmission Systems BD revenue declined by 2.3%, compared on a pro-forma basis and excluding the impact of currency translation, largely driven by the weak market environment in the Europe region. The Greater China and Americas regions achieved an above-market revenue trend. The Powertrain Solutions BD reported a 10.7% decrease in revenue, compared on a pro-forma basis and excluding the impact of currency translation, primarily in the Europe and Greater China regions. This was due to lower customer call-offs as a result of the weak trend in the market for vehicles with internal combustion engines as well as to the strategic streamlining of the product portfolio. Strong revenue growth reported for the Asia/Pacific region had an offsetting impact. Chassis Systems BD revenue was down 11.1%, compared on a pro-forma basis and excluding the impact of currency translation. The decrease affects all regions except the Asia/Pacific region, which reported revenue growth.
The slight decline in EBIT margin before special items in the first nine months of 2025, compared on a pro-forma basis, was primarily due to the adverse impact of volumes and foreign exchange losses, partly offset by favorable one-off impacts.
| 1st nine months | 3rd quarter | |||||||
|---|---|---|---|---|---|---|---|---|
| in € millions | 2025 | 2024 | Change in % |
Pro-forma compari son 1) in % |
2025 | 2024 | Change in % |
Pro-forma compari son 1) in % |
| Revenue | 6,741 | 4,232 | 59.3 | -8.6 | 2,194 | 1,332 | 64.7 | -3.6 |
| • at constant currency | 63.2 | -6.4 | 70.1 | -0.4 | ||||
| Revenue by business division | ||||||||
| Engine & Transmission Systems | 3,612 | 3,811 | -5.2 | -5.0 | 1,195 | 1,201 | -0.5 | -0.4 |
| • at constant currency | -2.5 | -2.3 | 3.3 | 3.4 | ||||
| Powertrain Solutions | 2,837 | 85 | > 100 | -12.5 | 906 | 29 | > 100 | -6.8 |
| • at constant currency | > 100 | -10.7 | > 100 | -4.1 | ||||
| Chassis Systems | 293 | 336 | -12.8 | -12.5 | 93 | 103 | -8.9 | -9.9 |
| • at constant currency | -11.4 | -11.1 | -7.3 | -8.3 | ||||
| Revenue by region 2) | ||||||||
| Europe | 2,709 | 1,642 | 65.0 | -13.0 | 871 | 492 | 77.0 | -4.2 |
| • at constant currency | 65.0 | -13.0 | 77.1 | -4.2 | ||||
| Americas | 1,936 | 1,178 | 64.4 | -6.9 | 632 | 374 | 68.9 | -4.3 |
| • at constant currency | 71.9 | -2.6 | 76.6 | 0.1 | ||||
| Greater China | 1,190 | 811 | 46.7 | -5.5 | 402 | 270 | 48.6 | 1.3 |
| • at constant currency | 51.2 | -2.5 | 57.7 | 7.5 | ||||
| Asia/Pacific | 905 | 600 | 50.9 | -2.2 | 289 | 196 | 48.0 | -6.3 |
| • at constant currency | 57.4 | 2.1 | 57.5 | -0.2 | ||||
| Cost of sales | -5,162 | -3,148 | 64.0 | -9.4 | -1,719 | -996 | 72.5 | -2.8 |
| Gross profit | 1,579 | 1,084 | 45.6 | -5.9 | 475 | 336 | 41.5 | -6.3 |
| • in % of revenue | 23.4 | 25.6 | – | 22.7 3) | 21.7 | 25.2 | – | 22.3 3) |
| Research and development expenses | -411 | -228 | 80.4 | -133 | -73 | 82.7 | ||
| Selling and administrative expenses | -488 | -296 | 65.0 | -175 | -96 | 83.0 | ||
| Other income and expense | -28 | 24 | – | -24 | 0 | > 100 | ||
| Earnings before financial result and income taxes (EBIT) | 652 | 584 | 11.6 | -25.8 | 143 | 168 | -14.5 | -36.1 |
| • in % of revenue | 9.7 | 13.8 | – | 11.9 3) | 6.5 | 12.6 | – | 9.9 3) |
| Special items 4) | 99 | -16 | – | – | 99 | 3 | > 100 | > 100 |
| EBIT before special items | 751 | 568 | 32.2 | -14.0 | 242 | 171 | 41.7 | 7.7 |
| • in % of revenue | 11.1 | 13.4 | – | 11.8 3) | 11.0 | 12.8 | – | 9.9 3) |
1) Amounts on comparable basis. Please refer to the related discussion on page 4.
2) Based on market (customer location).
3) Not a comparative amount; relevant prior year earnings measure underlying pro-forma comparison in % of revenue.
4) Please refer to pp. 10 et seq. for the definition of special items.
Vehicle Lifetime Solutions division earnings
Revenue increased by 5.0% in the first nine months of 2025, compared on a pro-forma basis and excluding the impact of currency translation. The increase is largely attributable to the impact of volumes.
Repair & Maintenance Solutions BD revenue grew by 3.9%, compared on a pro-forma basis and excluding the impact of currency translation. The Americas and Asia/Pacific regions made above-average contributions to this growth. Platform Business BD revenue increased by 37.1%, compared on a proforma basis and excluding the impact of currency translation. The main contributors to this growth were the Greater China, Asia/Pacific, and Europe regions. Specialty Business BD revenue rose by 3.0%, compared on a pro-forma basis and excluding the impact of currency translation, driven by the Americas and Asia/Pacific regions.
The slight decline in EBIT margin before special items in the first nine months of 2025, compared on a pro-forma basis, was primarily due to the impact of the revenue mix and foreign exchange rates. Volumes and prices had a favorable impact.
| 1st nine months | 3rd quarter | |||||||
|---|---|---|---|---|---|---|---|---|
| in € millions | 2025 | 2024 | Change in % |
Pro-forma compari son 1) in % |
2025 | 2024 | Change in % |
Pro-forma compari son 1) in % |
| Revenue | 2,303 | 1,991 | 15.7 | 2.6 | 740 | 657 | 12.5 | -0.2 |
| • at constant currency | 18.4 | 5.0 | 15.3 | 2.3 | ||||
| Revenue by business division | ||||||||
| Repair & Maintenance Solutions | 1,577 | 1,533 | 2.9 | 1.4 | 498 | 498 | 0.1 | -1.9 |
| • at constant currency | 5.4 | 3.9 | 2.3 | 0.3 | ||||
| Platform Business | 121 | 91 | 32.6 | 32.6 | 38 | 34 | 10.4 | 11.5 |
| • at constant currency | 37.1 | 37.1 | 17.8 | 19.0 | ||||
| Specialty Business | 606 | 367 | 65.2 | 1.0 | 204 | 125 | 62.5 | 2.3 |
| • at constant currency | 68.5 | 3.0 | 66.3 | 4.6 | ||||
| Revenue by region 2) | ||||||||
| Europe | 1,521 | 1,312 | 15.9 | 3.8 | 486 | 438 | 10.9 | -0.8 |
| • at constant currency | 15.7 | 3.7 | 11.4 | -0.4 | ||||
| Americas | 466 | 401 | 16.2 | -0.9 | 153 | 125 | 22.4 | 2.7 |
| • at constant currency | 27.2 | 8.4 | 29.7 | 8.9 | ||||
| Greater China | 149 | 132 | 12.4 | -2.0 | 47 | 45 | 6.1 | -2.2 |
| • at constant currency | 15.8 | 1.0 | 12.5 | 3.8 | ||||
| Asia/Pacific | 168 | 145 | 15.6 | 5.9 | 54 | 50 | 7.8 | -0.0 |
| • at constant currency | 21.3 | 11.1 | 16.7 | 8.2 | ||||
| Cost of sales | -1,578 | -1,338 | 18.0 | 3.4 | -511 | -444 | 15.0 | 0.0 |
| Gross profit | 725 | 653 | 11.1 | 0.8 | 229 | 213 | 7.4 | -0.6 |
| • in % of revenue | 31.5 | 32.8 | – | 32.0 3) | 30.9 | 32.4 | – | 31.1 3) |
| Research and development expenses | -30 | -16 | 83.7 | -11 | -6 | 86.0 | ||
| Selling and administrative expenses | -373 | -315 | 18.3 | -131 | -107 | 22.4 | ||
| Other income and expense | -5 | 9 | – | -5 | 1 | – | ||
| Earnings before financial result and income taxes (EBIT) | 318 | 330 | -3.9 | -6.5 | 82 | 100 | -18.3 | -18.6 |
| • in % of revenue | 13.8 | 16.6 | – | 15.1 3) | 11.1 | 15.3 | – | 13.6 3) |
| Special items 4) | 31 | -2 | – | > 100 | 31 | 4 | > 100 | > 100 |
| EBIT before special items | 348 | 329 | 5.9 | 0.5 | 113 | 104 | 8.6 | 8.7 |
| • in % of revenue | 15.1 | 16.5 | – | 15.4 3) | 15.3 | 15.8 | – | 14.0 3) |
1) Amounts on comparable basis. Please refer to the related discussion on page 4.
2) Based on market (customer location).
3) Not a comparative amount; relevant prior year earnings measure underlying pro-forma comparison in % of revenue.
4) Please refer to pp. 10 et seq. for the definition of special items.
Bearings & Industrial Solutions division earnings
Revenue for the first nine months of 2025 was flat with prior year, compared on a pro-forma basis and excluding the impact of currency translation. The market-driven decline in volumes in the Europe region was offset by higher volumes in the Greater China region.
Industrial Bearings BD revenue declined by 1.1%, compared on a pro-forma basis and excluding the impact of currency translation. The market-driven decrease in revenue in the Europe region was not fully offset by the growth seen in the Greater China region, mainly in the Wind sector cluster. Automotive Bearings BD revenue declined by 2.0%, compared on a pro-forma basis and excluding the impact of currency translation, which was largely due to the weak market environment in the Europe and Americas regions. The Greater China region, on the other hand, reported an increase in revenue. Linear Motion BD revenue was flat with prior year, compared on a pro-forma basis and excluding the impact of currency translation. The revenue decline, especially in the Europe region due to the weak market environment, was offset by growth in the Greater China and Asia/Pacific regions. The Aerospace Bearings BD reported revenue growth of 26.9%, compared on a pro-forma basis and excluding the impact of currency translation, that was primarily attributable to the Europe and Americas regions.
The EBIT margin before special items for the first nine months of 2025 was above prior year, compared on a pro-forma basis. Improved operating performance, especially at the production plants, was a significant driver of this increase in EBIT margin. The gross margin for the prior year period included the significant favorable impact of a change in accounting estimate regarding the valuation of inventories that was treated as a special item in EBIT.
| 1st nine months | 3rd quarter | |||||||
|---|---|---|---|---|---|---|---|---|
| in € millions | 2025 | 2024 | Change in % |
Pro-forma compari son 1) in % |
2025 | 2024 | Change in % |
Pro-forma compari son 1) in % |
| Revenue | 4,811 | 4,940 | -2.6 | -2.6 | 1,570 | 1,599 | -1.8 | -1.8 |
| • at constant currency | -0.2 | -0.2 | 2.2 | 2.2 | ||||
| Revenue by business division | ||||||||
| Industrial Bearings | 2,335 | 2,422 | -3.6 | -3.6 | 762 | 791 | -3.6 | -3.6 |
| • at constant currency | -1.1 | -1.1 | 0.6 | 0.6 | ||||
| Automotive Bearings | 1,898 | 1,988 | -4.5 | -4.5 | 626 | 635 | -1.5 | -1.5 |
| • at constant currency | -2.0 | -2.0 | 2.3 | 2.3 | ||||
| Linear Motion | 304 | 307 | -1.2 | -1.2 | 95 | 96 | -1.6 | -1.6 |
| • at constant currency | -0.0 | -0.0 | 0.9 | 0.9 | ||||
| Aerospace Bearings 2) | 274 | 222 | 23.4 | 23.4 | 87 | 76 | 15.1 | 15.1 |
| • at constant currency | 26.9 | 26.9 | 20.1 | 20.1 | ||||
| Revenue by region 3) | ||||||||
| Europe | 2,012 | 2,092 | -3.8 | -3.8 | 651 | 648 | 0.4 | 0.4 |
| • at constant currency | -3.4 | -3.4 | 1.5 | 1.6 | ||||
| Americas | 1,006 | 1,044 | -3.6 | -3.6 | 328 | 334 | -1.6 | -1.6 |
| • at constant currency | 0.6 | 0.6 | 4.2 | 4.2 | ||||
| Greater China | 1,077 | 1,048 | 2.7 | 2.7 | 359 | 362 | -0.8 | -0.8 |
| • at constant currency | 5.9 | 5.9 | 5.2 | 5.2 | ||||
| Asia/Pacific | 717 | 757 | -5.3 | -5.3 | 232 | 255 | -9.1 | -9.1 |
| • at constant currency | -0.1 | -0.1 | -1.4 | -1.4 | ||||
| Cost of sales | -3,717 | -3,750 | -0.9 | -0.2 | -1,244 | -1,248 | -0.4 | 0.1 |
| Gross profit | 1,094 | 1,191 | -8.1 | -10.0 | 327 | 351 | -6.9 | -8.4 |
| • in % of revenue | 22.7 | 24.1 | – | 24.6 4) | 20.8 | 21.9 | – | 22.3 4) |
| Research and development expenses | -184 | -166 | 10.9 | -63 | -54 | 15.5 | ||
| Selling and administrative expenses | -633 | -690 | -8.4 | -222 | -220 | 1.0 | ||
| Other income and expense | -8 | -3 | > 100 | -2 | 1 | – | ||
| Income (loss) from equity-accounted investees | 1 | 0 | – | -0 | 0 | – | ||
| Earnings before financial result and income taxes (EBIT) | 270 | 332 | -18.6 | -34.1 | 39 | 78 | -49.7 | -60.9 |
| • in % of revenue | 5.6 | 6.7 | – | 8.3 4) | 2.5 | 4.9 | – | 6.3 4) |
| Special items 5) | 112 | -47 | – | – | 85 | 4 | > 100 | > 100 |
| EBIT before special items | 382 | 284 | 34.3 | 3.9 | 125 | 82 | 51.1 | 19.7 |
| • in % of revenue | 7.9 | 5.8 | – | 7.4 4) | 7.9 | 5.2 | – | 6.5 4) |
Prior year information presented based on 2025 segment structure.
1) Amounts on comparable basis. Please refer to the related discussion on page 4.
2) Separate business division since the second quarter of 2025. Aerospace Bearings BD revenue was previously presented under the Industrial Bearings BD. The prior year amounts were adjusted accordingly.
3) Based on market (customer location).
4) Not a comparative amount; relevant prior year earnings measure underlying pro-forma comparison in % of revenue.
5) Please refer to pp. 10 et seq. for the definition of special items.
Performance indicators and special items
Please refer to pp. 12 and 25 et seq., respectively, of the Schaeffler Group's annual report 2024 for a detailed discussion of performance indicators and special items.
The restructuring category primarily includes expenses recognized in connection with the structural measures in Europe.
The M&A category includes integration expenses incurred in connection with the merger of Vitesco Technologies Group AG into Schaeffler AG. This category also contains impairment losses on companies classified as "held for sale".
The energy derivatives and forward exchange contracts category comprises, in particular, unrealized fair value gains incurred on forward exchange contracts that are not subject to cash flow hedge accounting and are used to hedge currency risk related to operations.
The impairments category contains, in particular, an impairment loss on the capitalized acquisition cost of the on-premise version of SAP operations which are being converted to a cloud-based solution in the fourth quarter of 2025.
Reconciliation
| 1st nine months | 1st nine months | 1st nine months | 1st nine months | 1st nine months | 1st nine months | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 1) | 2025 | 2024 1) | 2025 | 2024 1) | 2025 | 2024 1) | 2025 | 2024 1) | |
| Income statement (in € millions) |
Total | E-Mobility | Powertrain & Chassis |
Vehicle Lifetime Solutions |
Industrial Solutions | Bearings & | Others | |||||
| EBIT | 406 | 730 | -692 | -346 | 652 | 584 | 318 | 330 | 270 | 332 | -142 | -171 |
| • in % of revenue | 2.3 | 6.0 | -18.7 | -36.3 | 9.7 | 13.8 | 13.8 | 16.6 | 5.6 | 6.7 | -127.1 | -145.1 |
| Special items | 340 | -33 | 42 | 3 | 99 | -16 | 31 | -2 | 112 | -47 | 56 | 30 |
| • Legal cases | 6 | 0 | 0 | 0 | 0 | 0 | 6 | 0 | 0 | 0 | 0 | 0 |
| • Restructuring | 96 | 18 | 3 | 0 | 21 | 1 | 0 | 0 | 67 | 16 | 4 | 0 |
| • M&A | 83 | 56 | 10 | 6 | 26 | 6 | 9 | 6 | 11 | 9 | 27 | 30 |
| • Energy derivatives and forward exchange contracts |
-32 | 11 | -8 | 1 | -10 | 2 | -5 | 1 | -9 | 6 | 0 | 0 |
| • Impairments | 190 | 0 | 38 | 0 | 63 | 0 | 21 | 0 | 44 | 0 | 25 | 0 |
| • Other | -4 | -117 | -1 | -4 | -2 | -25 | -1 | -9 | -1 | -78 | 0 | 0 |
| EBIT before special items | 746 | 697 | -650 | -343 | 751 | 568 | 348 | 329 | 382 | 284 | -85 | -141 |
| • in % of revenue | 4.2 | 5.7 | -17.5 | -36.0 | 11.1 | 13.4 | 15.1 | 16.5 | 7.9 | 5.8 | -76.7 | -119.8 |
Special items
In order to facilitate a transparent evaluation of the company's results of operations, the Schaeffler Group reports EBIT, EBITDA, net income, net financial debt to EBITDA ratio, ROCE, and Schaeffler Value Added before special items (= adjusted).
Impact of currency translation/constant-currency
Constant-currency revenue figures, i.e., excluding the impact of currency translation, are calculated by translating revenue using the same exchange rate for both the current and the prior year or comparison reporting period.
Rounding differences may occur.
Reconciliation
| 1st nine months | ||
|---|---|---|
| 2025 | 2024 | |
| Income statement (in € millions) | Total | |
| EBIT | 406 | 730 |
| • in % of revenue | 2.3 | 6.0 |
| Special items | 340 | -33 |
| • Legal cases | 6 | 0 |
| • Restructuring | 96 | 18 |
| • M&A | 83 | 56 |
| • Energy derivatives and forward exchange contracts | -32 | 11 |
| • Impairments | 190 | 0 |
| • Other | -4 | -117 |
| EBIT before special items | 746 | 697 |
| • in % of revenue | 4.2 | 5.7 |
| Net income (loss) 2) | -244 | 218 |
| Special items | 299 | -23 |
| • Legal cases | 6 | 0.0 |
| • Restructuring | 96 | 19 |
| • M&A | 83 | 56 |
| • Energy derivatives and forward exchange contracts | -32 | 11 |
| • Impairments | 190 | 0 |
| • Other | -4 | -116 |
| • Unrecognized deferred tax assets | -21 | 0 |
| – Tax effect 3) | -20 | 8 |
| Net income before special items 2) | 55 | 194 |
| Statement of financial position (in € millions) | 09/30/2025 | 12/31/2024 |
| Net financial debt | 5,108 | 4,834 |
| / EBITDA LTM | 1,617 | 1,419 |
| Net financial debt to EBITDA ratio 4) | 3.2 | 3.4 |
| Net financial debt | 5,108 | 4,834 |
| / EBITDA before special items LTM | 2,250 | 1,897 |
| Net financial debt to EBITDA ratio before special items 4) | 2.3 | 2.5 |
| 1st nine months | ||
| Statement of cash flows (in € millions) | 2025 | 2024 |
| EBITDA | 1,654 | 1,456 |
| Special items | 122 | -33 |
| • Legal cases | 6 | 0 |
| • Restructuring | 47 | 18 |
| • M&A | 41 | 56 |
| • Energy derivatives and forward exchange contracts | -36 | 11 |
| • Other | 63 | -117 |
| EBITDA before special items | 1,775 | 1,423 |
| 1st nine months | ||
|---|---|---|
| 2025 | 2024 | |
| Free cash flow (FCF) | 41 | -1,336 |
| -/+ Cash in- and outflows for M&A activities | 6 | 1,433 |
| FCF before cash in- and outflows for M&A activities | 47 | 97 |
| FCF before cash in- and outflows for M&A activities LTM | 313 | 307 |
| / EBIT LTM | -30 | 715 |
| FCF-conversion LTM 4) 5) | – | 0.4 |
| FCF before cash in- and outflows for M&A activities | 47 | 97 |
| Special items | 153 | 137 |
| • Legal cases | 0 | 45 |
| • Restructuring | 112 | 57 |
| • Other | 42 | 36 |
| FCF before cash in- and outflows for M&A activities and before special items | 200 | 234 |
| Value-based management LTM (in € millions) | ||
| EBIT | -30 | 715 |
| / Average capital employed | 12,787 | 10,419 |
| ROCE (in %) 4) | -0.2 | |
| 6.9 | ||
| EBIT before special items | 860 | 920 |
| / Average capital employed | 12,787 | 10,419 |
| ROCE before special items (in %) 4) | 6.7 | 8.8 |
| EBIT | -30 | 715 |
| – Cost of capital | 1,279 | 1,042 |
| Schaeffler Value Added (SVA) 4) | -1,309 | -327 |
| EBIT before special items | 860 | 920 |
| – Cost of capital | 1,279 | 1,042 |
1) Prior year information presented based on 2025 segment structure.
LTM = Financial indicator based on the last four quarters.
2) Attributable to shareholders of the parent company.
3) Based on each entity's specific tax rate and country-specific tax environment.
4) Based on pro-forma amounts: net financial debt to EBITDA ratio 3.2; net financial debt to EBITDA ratio before special items 2.3; FCF-conversion LTM n/a; ROCE -0.3%; ROCE before special items 6.7%; SVA EUR -1,318 m; SVA before special items EUR -429 m.
5) Only reported if free cash flow before cash in- and outflows for M&A activities and EBIT positive.
Financial position
As the free cash flow before cash in- and outflows for M&A activities of Vitesco Technologies Group AG and its former subsidiaries is not included in the nine-months figures for the comparison period 2024, comparability is limited. Free cash flow before cash in- and outflows for M&A activities for the first nine months of 2025 amounts to EUR 47 m and has improved considerably when compared on a pro-forma basis.
The group's net financial debt changed as follows:
Net financial debt
| in € millions | 09/30/2025 12/31/2024 | Change in % |
|
|---|---|---|---|
| Bonds | 5,221 | 4,070 | 28.3 |
| Schuldschein loans | 208 | 429 | -51.6 |
| Term loans | 1,852 | 1,604 | 15.5 |
| Other financial debt | 11 | 11 | -1.3 |
| Total financial debt | 7,292 | 6,115 | 19.2 |
| Cash and cash equivalents | 2,184 | 1,281 | 70.5 |
| Net financial debt | 5,108 | 4,834 | 5.7 |
On January 24, 2025, Schaeffler AG drew down in full the EUR 45 m loan under a loan agreement with KfW IPEX-Bank signed in December 2024.
On March 17, 2025, Schaeffler AG redeemed Schuldschein loans with a total principal of EUR 55 m upon maturity.
Schaeffler AG issued a total of EUR 1.15 bn in bonds under its debt issuance program on March 25, 2025. The transaction consisted of two tranches (EUR 550 m with a coupon of 4.250%, due in April 2028, and EUR 600 m with a coupon of 5.375%, due in April 2031) and was settled on April 1, 2025. The new bonds are listed on the Luxembourg Stock Exchange. The proceeds of the issuance serve general corporate and financing purposes, including redemption of the Schuldschein loans due in May 2025 and the bond series due in October 2025.
Schaeffler AG signed a further EUR 45 m loan agreement with KfW IPEX-Bank in the second quarter of 2025 and drew down the full amount on April 23, 2025.
On May 12, 2025, Schaeffler AG redeemed further Schuldschein loans with a total principal of EUR 167 m upon maturity.
Furthermore, the Schaeffler Group entered into and drew down three lines of credit totaling approximately EUR 176 m in June 2025.
The exercise of a contractual extension option prolonged the maturity of the revolving credit facility to October 1, 2030, effective September 12, 2025.
EUR 321 m (December 31, 2024: EUR 308 m) of cash and cash-equivalents on hand as at September 30, 2025, related to countries with foreign exchange restrictions and other legal and contractual restrictions. In addition, Schaeffler AG has committed revolving credit facilities of EUR 3.1 bn (December 31, 2024: EUR 3.1 bn). Deducting bank balances in countries with foreign
exchange restrictions and other legal and contractual restrictions results in total available liquidity of EUR 4,912 m (December 31, 2024: EUR 3,990 m).
Schaeffler AG is rated by the three rating agencies Fitch, Moody's, and Standard & Poor's. While the rating by Fitch is unchanged from the consolidated financial statements 2024, Standard & Poor's changed its outlook for Schaeffler AG from "stable" to "negative" in February 2025. Additionally, Moody's downgraded its rating for Schaeffler AG to "Ba1" and set the outlook from "negative" to "stable" in March 2025.
Supplementary report
On October 2, 2025, rating agency Fitch confirmed the rating and outlook currently assigned.
On October 13, 2025, Schaeffler AG redeemed a EUR 750 m bond series with a fixed interest rate of 2.75% upon maturity.
Since mid-October 2025, the global supply situation in the semiconductor sector has been the subject of particular attention. The Schaeffler Group is in close contact with its customers and suppliers in order to be able to respond appropriately to current developments as necessary.
No other material events expected to have a significant impact on the net assets, financial position, or results of operations of the Schaeffler Group occurred after September 30, 2025.
Herzogenaurach, October 29, 2025
The Board of Managing Directors
Opportunities and risks
Please refer to pp. i34 et seq. of the Schaeffler Group's annual report 2024 for a discussion of the Schaeffler Group's risk management system and to pp. 37 et seq. of that report for the discussion of the Schaeffler Group's potential opportunities and risks. The statements made there with respect to opportunities and risks are largely unchanged.
The Schaeffler Group is monitoring the developments in global trade policy with respect to tariff regulations and other trade barriers on an ongoing basis. This risk was identified in 2024 and is described in the report on opportunities and risks in the annual report 2024. Changed implications of current developments are monitored on an ongoing basis and appropriate adjustment measures are taken.
The Schaeffler Group's risks are limited, both individually and in combination with other risks, and do not jeopardize the continued existence of the company.
Expected economic and sales market trends
Based on the forecast by S&P Global Market Intelligence (October 2025) 1, the Schaeffler Group now expects global gross domestic product 2 to grow by 2.8% in 2025 (2024: 2.8%).
Please refer to the discussion in the report on opportunities and risks for potential risks to global economic growth.
Taking into account the forecast by S&P Global Mobility (October 2025) 3, the Schaeffler Group now anticipates global automobile production 4 to expand by 2.0% to 91.4 million vehicles in 2025 (2024: 89.6 million vehicles).
Based on the forecast by S&P Global Mobility (August 2025) 5, the Schaeffler Group continues to expect growth in global vehicle population 6 of 2.0% to 2.5% and a further rise in the average vehicle age in 2025 (2024: growth of 2.5%, average age 11.3 years).
Based on the forecast by S&P Global Market Intelligence (October 2025) 7, the Schaeffler Group now expects global industrial production 8 to grow by 2.5% to 3.0% (2024: 2.3%) in 2025, while production in the sectors particularly relevant to the company – mechanical engineering, transport equipment, and electrical equipment 9 – is now anticipated to expand by about 2.5% (2024: 0.2%).
- 1 Includes content supplied by S&P Global Market Intelligence © [World Economic Service Forecast, October 2025]. All rights reserved.
- 2 Measured as gross domestic product in real terms based on market exchange rates.
- 3 Includes content supplied by S&P Global Mobility © [IHS Markit Light Vehicle Production Forecast (Base), October 2025]. All rights reserved.
- 4 Measured as the number of vehicles up to six tons in weight manufactured.
- 5 Includes content supplied by S&P Global Mobility © [IHS Markit Vehicles in Operation (VIO) Forecast, August 2025]. All rights reserved.
- 6 Measured as the number of passenger cars and light commercial vehicles less than 3.5 tons in weight.
- 7 Includes content supplied by S&P Global Market Intelligence © [Comparative Industry Service Forecast, October 2025]. All rights reserved.
- 8 Measured as value added in real terms.
- 9 Divisions 28 and 30 as well as group 271 of the ISIC Rev. 4 classification.
Schaeffler Group outlook
On October 28, 2025, the Board of Managing Directors of Schaeffler AG decided to adjust the full-year outlook for 2025 issued on February 18, 2025.
More on the guidance for the Schaeffler Group issued on February 18, 2025, in the annual report 2024 on page 121.
The Schaeffler Group continues to anticipate considerable revenue growth, excluding the impact of currency translation, in 2025. In addition, despite the deterioration in the environment, the company continues to expect to generate an EBIT margin before special items of 3 to 5% in 2025.
In light of the favorable trend in free cash flow before cash inand outflows for M&A activities during the year to date, the Schaeffler Group now anticipates free cash flow before cash in- and outflows for M&A activities of EUR 0 to 200 m for 2025.
The Schaeffler Group will respond to the changed tariff regulations and trade conflicts with suitable measures. However, the current pace of change makes it impossible to reliably determine either suitable measures with longer-term implications or a monetary impact. The Schaeffler Group continues to aim to pass on the tariffs and reciprocal tariffs imposed to customers.
Herzogenaurach, October 29, 2025
The Board of Managing Directors
Outlook 2025
| Actual 2024 | Outlook 2025 | Outlook 2025 | Actual 9M 2025 | |
|---|---|---|---|---|
| Schaeffler Group | issued 02/18/2025 4) |
issued 10/28/2025 |
||
| Revenue growth 1) | 12.9% | considerable revenue growth |
considerable revenue growth |
48.2% |
| EBIT margin before special items 2) | 4.5% | 3 to 5% | 3 to 5% | 4.2% |
| Free cash flow 3) | EUR 363 m | EUR -200 to 0 m | EUR 0 to 200 m | EUR 47 m |
1) Constant-currency revenue growth compared to prior year.
2) Please refer to pp. 10 et seq. for the definition of special items.
3) Before cash in- and outflows for M&A activities.
4) Confirmed on April 28, 2025 and July 28, 2025.
Consolidated income statement
| 1st nine months | 3rd quarter | ||||||
|---|---|---|---|---|---|---|---|
| in € millions | 2025 | 2024 1) | Change in % |
2025 | 2024 1) | Change in % |
|
| Revenue | 17,672 | 12,233 | 44.5 | 5,826 | 3,957 | 47.3 | |
| Cost of sales | -14,185 | -9,405 | 50.8 | -4,749 | -3,095 | 53.5 | |
| Gross profit | 3,487 | 2,828 | 23.3 | 1,077 | 862 | 24.9 | |
| Research and development expenses | -1,214 | -618 | 96.5 | -390 | -203 | 92.1 | |
| Selling expenses | -1,037 | -872 | 18.9 | -360 | -284 | 26.8 | |
| Administrative expenses | -763 | -555 | 37.4 | -283 | -182 | 55.7 | |
| Other income | 73 | 69 | 7.0 | 8 | 5 | 78.7 | |
| Other expenses | -142 | -27 | > 100 | -75 | 0 | > 100 | |
| Income (loss) from equity-accounted investees | 1 | -94 | – | 0 | -60 | – | |
| Earnings before financial result and income taxes (EBIT) | 406 | 730 | -44.4 | -23 | 137 | – | |
| Financial income | 36 | 51 | -29.7 | 12 | 3 | > 100 | |
| Financial expenses | -307 | -279 | 10.1 | -110 | -83 | 31.8 | |
| Financial result | -271 | -228 | 19.0 | -98 | -81 | 21.4 | |
| Earnings before income taxes | 135 | 502 | -73.0 | -121 | 57 | – | |
| Income taxes | -358 | -265 | 35.3 | -159 | -96 | 66.1 | |
| Net income (loss) | -223 | 237 | – | -280 | -39 | > 100 | |
| Attributable to shareholders of the parent company | -244 | 218 | – | -287 | -45 | > 100 | |
| Attributable to non-controlling interests | 21 | 20 | 7.3 | 7 | 6 | 9.5 | |
| Earnings per common share (basic/diluted, in €) | -0.26 | 0.33 | – | -0.31 | -0.07 | > 100 |
1) Prior year amounts amended; see the annual report 2024, note 2.2 to the consolidated financial statements "Acquisitions and disposals of companies", for further details.
Consolidated statement of comprehensive income
| 1st nine months | 3rd quarter | |||
|---|---|---|---|---|
| in € millions | 2025 | 2024 1) | 2025 | 2024 1) |
| Net income (loss) | -223 | 237 | -280 | -39 |
| Items that will not be reclassified to profit or loss | ||||
| Remeasurement of net defined benefit liability | 133 | 39 | 33 | -47 |
| Net change in fair value of financial assets at fair value through other comprehensive income | 9 | -9 | -1 | -2 |
| Reclassification to other reserves on disposal of an unconsolidated equity investment accounted for at fair value through other comprehensive income | 0 | 24 | 0 | 24 |
| Share of other comprehensive income of equity-accounted investees | 0 | 5 | 0 | -1 |
| Tax effect | 4 | -12 | 2 | 14 |
| Total other comprehensive income (loss) that will not be reclassified to profit or loss | 146 | 47 | 34 | -12 |
| Items that have been or may be reclassified subsequently to profit or loss | ||||
| Foreign currency translation differences for foreign operations | -576 | -147 | 1 | -156 |
| Effective portion of changes in fair value of cash flow hedges | 76 | -20 | -13 | 25 |
| Share of other comprehensive income of equity-accounted investees | 0 | -30 | 0 | -29 |
| Tax effect | -21 | 6 | 4 | -7 |
| Total other comprehensive income (loss) that has been or may be subsequently reclassified to profit or loss | -521 | -191 | -8 | -168 |
| Total other comprehensive income (loss) | -375 | -145 | 26 | -180 |
| Total comprehensive income (loss) | -598 | 93 | -254 | -219 |
| Total comprehensive income (loss) attributable to shareholders of the parent company | -597 | 75 | -256 | -219 |
| Total comprehensive income (loss) attributable to non-controlling interests | 0 | 17 | 2 | 0 |
1) Prior year amounts amended; see the annual report 2024, note 2.2 to the consolidated financial statements "Acquisitions and disposals of companies", for further details.
Consolidated statement of financial position
| in € millions | 09/30/2025 | 12/31/2024 09/30/2024 1) | Change in % |
|
|---|---|---|---|---|
| ASSETS | ||||
| Intangible assets | 2,143 | 2,383 | 1,612 | -10.0 |
| Right-of-use assets under leases | 472 | 506 | 234 | -6.8 |
| Property, plant and equipment | 6,158 | 6,718 | 4,552 | -8.3 |
| Investments in joint ventures and associated companies | 18 | 18 | 1,148 | 1.2 |
| Costs to fulfill a contract | 576 | 621 | 328 | -7.2 |
| Contract assets | 7 | 5 | 0 | 40.7 |
| Other financial assets | 299 | 320 | 262 | -6.7 |
| Other assets | 136 | 168 | 142 | -19.1 |
| Income tax receivables | 73 | 73 | 73 | 0.3 |
| Deferred tax assets | 672 | 757 | 753 | -11.2 |
| Total non-current assets | 10,555 | 11,569 | 9,105 | -8.8 |
| Inventories | 3,634 | 3,569 | 3,026 | 1.8 |
| Contract assets | 168 | 233 | 51 | -27.7 |
| Trade receivables | 3,920 | 3,909 | 2,588 | 0.3 |
| Other financial assets | 216 | 185 | 332 | 17.2 |
| Other assets | 486 | 499 | 380 | -2.8 |
| Income tax receivables | 120 | 113 | 47 | 6.0 |
| Cash and cash equivalents | 2,184 | 1,281 | 766 | 70.5 |
| Assets held for sale | 41 | 12 | 5 | > 100 |
| Total current assets | 10,769 | 9,801 | 7,195 | 9.9 |
| Total assets | 21,323 | 21,370 | 16,299 | -0.2 |
| in € millions | 09/30/2025 | 12/31/2024 09/30/2024 1) | Change in % |
|
|---|---|---|---|---|
| SHAREHOLDERS' EQUITY AND LIABILITIES | ||||
| Share capital | 945 | 945 | 666 | 0.0 |
| Capital reserves | 2,348 | 2,348 | 2,348 | 0.0 |
| Other reserves | 476 | 956 | 1,133 | -50.2 |
| Accumulated other comprehensive income (loss) | -789 | -435 | -618 | 81.2 |
| Equity attributable to shareholders of the parent company | 2,980 | 3,814 | 3,529 | -21.9 |
| Non-controlling interests | 143 | 155 | 141 | -7.9 |
| Total shareholders' equity | 3,123 | 3,969 | 3,670 | -21.3 |
| Provisions for pensions and similar obligations | 2,215 | 2,355 | 1,809 | -6.0 |
| Provisions | 700 | 760 | 198 | -7.9 |
| Financial debt | 5,967 | 5,137 | 5,411 | 16.2 |
| Contract liabilities | 709 | 741 | 188 | -4.4 |
| Income tax payables | 57 | 79 | 63 | -27.5 |
| Other financial liabilities | 69 | 77 | 96 | -10.3 |
| Lease liabilities | 334 | 375 | 170 | -10.8 |
| Other liabilities | 38 | 39 | 27 | -0.8 |
| Deferred tax liabilities | 172 | 166 | 201 | 3.9 |
| Total non-current liabilities | 10,262 | 9,728 | 8,164 | 5.5 |
| Provisions | 637 | 775 | 284 | -17.9 |
| Financial debt | 1,325 | 979 | 167 | 35.4 |
| Contract liabilities | 274 | 261 | 121 | 5.2 |
| Trade payables | 3,517 | 3,707 | 2,395 | -5.1 |
| Income tax payables | 137 | 107 | 90 | 27.1 |
| Other financial liabilities | 1,028 | 893 | 688 | 15.1 |
| Lease liabilities | 123 | 120 | 68 | 2.2 |
| Refund liabilities | 333 | 362 | 289 | -8.1 |
| Other liabilities | 542 | 468 | 364 | 15.8 |
| Liabilities associated with assets held for sale | 23 | 0 | 0 | – |
| Total current liabilities | 7,938 | 7,673 | 4,466 | 3.5 |
| Total shareholders' equity and liabilities | 21,323 | 21,370 | 16,299 | -0.2 |
1) Prior year amounts amended; see the annual report 2024, note 2.2 to the consolidated financial statements "Acquisitions and disposals of companies", for further details.
Consolidated statement of cash flows
| 1st nine months | 3rd quarter | |||||
|---|---|---|---|---|---|---|
| in € millions | 2025 | 2024 1) | Change in % |
2025 | 2024 1) | Change in % |
| Operating activities | ||||||
| EBIT | 406 | 730 | -44.4 | -23 | 137 | – |
| Interest paid | -196 | -177 | 10.2 | -74 | -56 | 33.6 |
| Interest received | 27 | 18 | 49.7 | 8 | 4 | 73.4 |
| Income taxes paid | -296 | -302 | -1.8 | -86 | -101 | -15.3 |
| Dividends received | 1 | 3 | -79.2 | 0 | 0 | -95.0 |
| Amortization, depreciation, and impairment losses |
1,248 | 726 | 71.9 | 535 | 238 | > 100 |
| (Gains) losses on disposal of assets | 1 | -1 | – | 2 | 1 | > 100 |
| Changes in: | ||||||
| • Inventories | -219 | -246 | -11.0 | -46 | 30 | – |
| • Trade receivables | -281 | -108 | > 100 | 12 | 140 | -91.7 |
| • Trade payables | 41 | 69 | -41.3 | 3 | -69 | – |
| • Provisions for pensions and similar obligations |
-63 | -27 | > 100 | -41 | -6 | > 100 |
| • Other assets, liabilities, and provisions |
164 | 108 | 51.7 | 160 | 113 | 40.9 |
| Cash flows from operating activities | 832 | 793 | 4.9 | 448 | 431 | 3.9 |
| Investing activities | ||||||
| Proceeds from disposals of property, plant and equipment |
11 | 7 | 55.6 | 3 | 1 | > 100 |
| Capital expenditures on intangible assets |
-23 | -44 | -47.9 | -3 | -14 | -75.9 |
| Capital expenditures on property, plant and equipment |
-676 | -601 | 12.5 | -240 | -213 | 12.8 |
| Acquisition of subsidiaries | -1 | -3 | -61.7 | 0 | -2 | -100 |
| Acquisition of interests in joint ventures, associated companies, and other equity investments |
-6 | -1,229 | -99.5 | -2 | 0 | – |
| Disposal of interests in joint ventures and other equity investments |
1 | 2 | -34.3 | 1 | 2 | -34.3 |
| Loans to joint ventures, associated companies, |
||||||
| and other equity investees | 0 | -202 | -100 | 0 | -64 | -100 |
| Other investing activities | 0 | -5 | -90.9 | 0 | 1 | -70.1 |
| 1st nine months | 3rd quarter | ||||||
|---|---|---|---|---|---|---|---|
| in € millions | 2025 | 2024 1) | Change in % |
2025 | 2024 1) | Change in % |
|
| Financing activities | |||||||
| Dividends paid to shareholders and non-controlling interests |
-248 | -306 | -19.1 | 0 | 0 | > 100 | |
| Receipts from bond issuances and loans |
1,429 | 2,596 | -45.0 | 2 | 63 | -97.5 | |
| Redemptions of bonds and repayments of loans |
-225 | -939 | -76.0 | -1 | -3 | -79.2 | |
| Principal repayments on lease liabilities |
-97 | -53 | 84.2 | -33 | -18 | 82.0 | |
| Acquisition of non-controlling interests |
0 | -1 | -100 | 0 | 0 | 0.0 | |
| Other financing activities | 0 | -3 | -87.5 | 0 | -1 | -100.0 | |
| Cash provided by (used in) financing activities |
858 | 1,293 | -33.6 | -31 | 42 | – | |
| Net increase (decrease) in cash and cash equivalents |
996 | 10 | > 100 | 176 | 185 | -4.7 | |
| Effects of foreign exchange rate changes on cash and cash equivalents |
-91 | -14 | > 100 | -17 | -15 | 7.3 | |
| Cash and cash equivalents as at beginning of period |
1,281 | 769 | 66.6 | 2,027 | 596 | > 100 | |
| Cash and cash equivalents as at September 30 |
2,186 | 766 | > 100 | 2,186 | 766 | > 100 | |
| Less cash and cash equivalents classified as assets held for sale as at September 30 |
-3 | – | -3 | – | |||
| Cash and cash equivalents as at September 30 (consolidated statement of financial position) |
2,184 | 766 | > 100 | 2,184 | 766 | > 100 |
1) Prior year amounts amended; see the annual report 2024, note 2.2 to the consolidated financial statements "Acquisitions and disposals of companies", for further details.
Consolidated statement of changes in equity
| Share capital |
Capital reserves |
Other reserves |
Accumulated other comprehensive income (loss) | Equity attributable Non controlling interests |
Total | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Defined benefit plan remeasure |
|||||||||||
| in € millions | Translation reserve |
Hedging reserve |
Fair value reserve |
ment reserve |
Total | ||||||
| Balance as at January 01, 2024, before change in accounting policy IAS 8 | 666 | 2,348 | 1,233 | -283 | 28 | -3 | -218 | -476 | 3,771 | 135 | 3,905 |
| Change in accounting policy IAS 8 | 7 | 7 | 0 | 7 | |||||||
| Balance as at January 01, 2024 | 666 | 2,348 | 1,240 | -283 | 28 | -3 | -218 | -476 | 3,778 | 135 | 3,913 |
| Net income 2) | 218 | 218 | 20 | 237 | |||||||
| Other comprehensive income (loss) | -174 | -15 | 15 | 32 | -142 | -142 | -3 | -145 | |||
| Total comprehensive income (loss) | 218 | -174 | -15 | 15 | 32 | -142 | 75 | 17 | 93 | ||
| Dividends | -295 | -295 | -12 | -306 | |||||||
| Transactions with non-controlling interests | -2 | -2 | 1 | -1 | |||||||
| Total amount of transactions with shareholders | -297 | -297 | -11 | -308 | |||||||
| Balance as at September 30, 2024 | 666 | 2,348 | 1,133 | -457 | 13 | 12 | -186 | -618 | 3,529 | 141 | 3,670 |
| Balance as at January 01, 2025 | 945 | 2,348 | 956 | -170 | -22 | 12 | -254 | -435 | 3,814 | 155 | 3,969 |
| Net income (loss) | -244 | -244 | 21 | -223 | |||||||
| Other comprehensive income (loss) | -554 | 54 | 9 | 137 | -353 | -353 | -22 | -375 | |||
| Total comprehensive income (loss) | -244 | -554 | 54 | 9 | 137 | -353 | -597 | 0 | -598 | ||
| Dividends | -236 | -236 | -12 | -248 | |||||||
| Total amount of transactions with shareholders | -236 | -236 | -12 | -248 | |||||||
| Balance as at September 30, 2025 | 945 | 2,348 | 476 | -724 | 32 | 21 | -117 | -789 | 2,980 | 143 | 3,123 |
1) Equity attributable to shareholders of the parent company.
2) Prior year amounts amended; see the annual report 2024, note 2.2 to the consolidated financial statements "Acquisitions and disposals of companies", for further details.
Consolidated segment information
| 1st nine months | 1st nine months | 1st nine months | 1st nine months | 1st nine months | 1st nine months | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 1) | 2025 | 2024 1) | |
| Bearings & Industrial | ||||||||||||
| in € millions | E-Mobility | Powertrain & Chassis | Vehicle Lifetime Solutions | Solutions | Others | Total | ||||||
| Revenue | 3,705 | 952 | 6,741 | 4,232 | 2,303 | 1,991 | 4,811 | 4,941 | 111 | 118 | 17,672 | 12,233 |
| EBIT | -692 | -346 | 652 | 584 | 318 | 330 | 270 | 332 | -142 | -171 | 406 | 730 |
| • in % of revenue | -18.7 | -36.3 | 9.7 | 13.8 | 13.8 | 16.6 | 5.6 | 6.7 | -127.1 | -145.1 | 2.3 | 6.0 |
| EBIT before special items 2) | -650 | -343 | 751 | 568 | 348 | 329 | 382 | 284 | -85 | -141 | 746 | 697 |
| • in % of revenue | -17.5 | -36.0 | 11.1 | 13.4 | 15.1 | 16.5 | 7.9 | 5.8 | -76.7 | -119.8 | 4.2 | 5.7 |
| Amortization, depreciation, and impairment losses | 314 | 91 | 459 | 255 | 74 | 41 | 349 | 329 | 52 | 10 | 1,248 | 726 |
| Working capital 3) 4) | 368 | 102 | 1,122 | 652 | 844 | 628 | 1,646 | 1,736 | 57 | 101 | 4,037 | 3,219 |
| Additions to intangible assets and property, plant and equipment 5) |
278 | 143 | 173 | 218 | 22 | 40 | 148 | 302 | 19 | 29 | 640 | 733 |
| 3rd quarter | 3rd quarter | 3rd quarter | 3rd quarter | 3rd quarter | 3rd quarter | |||||||
| 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 1) | 2025 | 2024 1) | |
| in € millions | E-Mobility | Powertrain & Chassis | Vehicle Lifetime Solutions | Bearings & Industrial Solutions |
Others | Total | ||||||
| Revenue | 1,286 | 336 | 2,194 | 1,332 | 740 | 657 | 1,570 | 1,599 | 37 | 32 | 5,826 | 3,957 |
| EBIT | -231 | -127 | 143 | 168 | 82 | 100 | 39 | 78 | -57 | -81 | -23 | 137 |
| • in % of revenue | -17.9 | -37.9 | 6.5 | 12.6 | 11.1 | 15.3 | 2.5 | 4.9 | -156.9 | -253.4 | -0.4 | 3.5 |
| EBIT before special items 2) | -189 | -125 | 242 | 171 | 113 | 104 | 125 | 82 | -26 | -61 | 264 | 172 |
| • in % of revenue | -14.7 | -37.0 | 11.0 | 12.8 | 15.3 | 15.8 | 7.9 | 5.2 | -71.9 | -189.0 | 4.5 | 4.3 |
| Amortization, depreciation, and impairment losses | 131 | 30 | 196 | 82 | 39 | 14 | 145 | 110 | 24 | 3 | 535 | 238 |
| Working capital 3) 4) | 368 | 102 | 1,122 | 652 | 844 | 628 | 1,646 | 1,736 | 57 | 101 | 4,037 | 3,219 |
| Additions to intangible assets and property, plant and equipment 5) |
108 | 76 | 54 | 122 | 6 | 26 | 55 | 135 | 10 | -10 | 233 | 349 |
1) Prior year amounts amended; see the annual report 2024, note 2.2 to the consolidated financial statements "Acquisitions and disposals of companies", for further details.
2) Please refer to pp. 10 et seq. for the definition of special items.
3) Working capital defined as inventories plus trade receivables less trade payables. 4) Amounts as at September 30.
5) Translated at the relevant average exchange rate.
Summary 1st quarter 2024 to 3rd quarter 2025
Schaeffler Group
| 2024 | 2025 | ||||||
|---|---|---|---|---|---|---|---|
| in € millions | 1st quarter | 2nd quarter | 3rd quarter | 4th quarter | 1st quarter | 2nd quarter | 3rd quarter |
| Income statement | |||||||
| Revenue | 4,085 | 4,191 | 3,957 | 5,955 | 5,924 | 5,922 | 5,826 |
| • Europe | 1,846 | 1,881 | 1,716 | 2,707 | 2,757 | 2,777 | 2,690 |
| • Americas | 952 | 966 | 892 | 1,282 | 1,364 | 1,354 | 1,333 |
| • Greater China | 754 | 799 | 803 | 1,135 | 991 | 977 | 1,002 |
| • Asia/Pacific | 533 | 547 | 547 | 832 | 812 | 815 | 801 |
| Cost of sales | -2,999 | -3,311 | -3,095 | -4,951 | -4,651 | -4,784 | -4,749 |
| Gross profit | 1,086 | 880 | 862 | 1,004 | 1,272 | 1,138 | 1,077 |
| • in % of revenue | 26.6 | 21.0 | 21.8 | 16.9 | 21.5 | 19.2 | 18.5 |
| Research and development expenses | -208 | -207 | -203 | -369 | -435 | -389 | -390 |
| Selling and administrative expenses | -485 | -477 | -466 | -579 | -559 | -598 | -643 |
| EBIT | 415 | 178 | 137 | -436 | 263 | 166 | -23 |
| • in % of revenue | 10.2 | 4.2 | 3.5 | -7.3 | 4.4 | 2.8 | -0.4 |
| Special items 1) | -93 | 26 | 35 | 550 | 14 | 39 | 288 |
| EBIT before special items | 322 | 204 | 172 | 114 | 276 | 205 | 264 |
| • in % of revenue | 7.9 | 4.9 | 4.3 | 1.9 | 4.7 | 3.5 | 4.5 |
| Net income (loss) 2) | 231 | 33 | -45 | -850 | 83 | -40 | -287 |
| Earnings per common share (basic/diluted, in €) |
0.35 | 0.05 | -0.07 | -0.90 | 0.09 | -0.04 | -0.31 |
| Statement of financial position | |||||||
| Total assets | 17,328 | 16,433 | 16,332 | 21,370 | 21,204 | 21,513 | 21,323 |
| Additions to intangible assets and property, plant and equipment |
180 | 203 | 349 | 387 | 200 | 206 | 233 |
| Amortization, depreciation, and impairment losses 3) |
227 | 224 | 220 | 365 | 318 | 330 | 497 |
| • Reinvestment rate | 0.79 | 0.91 | 1.59 | 1.06 | 0.63 | 0.63 | 0.47 |
| Shareholders' equity 4) | 4,199 | 3,917 | 3,702 | 3,969 | 4,088 | 3,377 | 3,123 |
| • in % of total assets | 24.2 | 23.8 | 22.7 | 18.6 | 19.3 | 15.7 | 14.6 |
| Net financial debt | 4,613 | 4,920 | 4,812 | 4,834 | 5,013 | 5,255 | 5,108 |
| • Net financial debt to EBITDA LTM ratio before special items 1) |
2.1 | 2.4 | 2.5 | 2.5 | 2.6 | 2.6 | 2.3 |
| • Gearing ratio (net financial debt to shareholders' equity 4), in %) |
109.9 | 125.6 | 130.0 | 121.8 | 122.6 | 155.6 | 163.6 |
| 2024 | 2025 | ||||||
|---|---|---|---|---|---|---|---|
| in € millions | 1st quarter | 2nd quarter | 3rd quarter | 4th quarter | 1st quarter | 2nd quarter | 3rd quarter |
| Statement of cash flows | |||||||
| EBITDA | 659 | 421 | 376 | -37 | 614 | 529 | 511 |
| Cash flows from operating activities | 79 | 283 | 431 | 597 | 124 | 260 | 448 |
| Capital expenditures (capex) 5) | 222 | 195 | 227 | 312 | 250 | 205 | 244 |
| • in % of revenue (capex ratio) | 5.4 | 4.7 | 5.7 | 5.2 | 4.2 | 3.5 | 4.2 |
| Free cash flow (FCF) before cash in- and outflows for M&A activities |
-166 | 75 | 188 | 266 | -155 | 27 | 175 |
| • FCF-conversion LTM (ratio of FCF before cash in- and outflows for M&A activities LTM to EBIT LTM) 6) |
0.3 | 0.3 | 0.4 | 1.2 | 2.6 | 2.5 | – |
| Value-based management (LTM) | |||||||
| ROCE (in %) | 10.3 | 8.9 | 6.9 | 2.6 | 1.2 | 1.1 | -0.2 |
| ROCE before special items (in %) 1) | 12.0 | 10.7 | 8.8 | 7.2 | 6.4 | 6.2 | 6.7 |
| Schaeffler Value Added (in € millions) | 25 | -115 | -327 | -839 | -1,047 | -1,105 | -1,309 |
| Schaeffler Value Added before special items (in € millions) 1) |
193 | 73 | -122 | -322 | -424 | -468 | -419 |
| Employees | |||||||
| Headcount (at end of reporting period) | 83,793 | 83,990 82,074 7) | 115,055 | 113,682 | 112,858 | 112,035 |
Tables do not contain any pro-forma information.
1) Please refer to pp. 10 et seq. for the definition of special items.
2) Attributable to shareholders of the parent company.
3) Amortization, depreciation, and impairment losses excluding depreciation of right-of-use assets under leases and impairments of goodwill.
4) Including non-controlling interests.
5) Capital expenditures on intangible assets and property, plant and equipment.
6) Only reported if FCF before cash in- and outflows for M&A activities and EBIT positive.
7) The headcount determined as at the end of the reporting period was reduced by 1,591 permanent employees who were impacted by temporary closures and were therefore not included in the count.
LTM = Financial indicator based on the last four quarters.
| 2024 2025 |
|||||||||
|---|---|---|---|---|---|---|---|---|---|
| in € millions | 1st quarter | 2nd quarter | 3rd quarter | 4th quarter | 1st quarter | 2nd quarter | 3rd quarter | ||
| E-Mobility division | |||||||||
| Revenue | 301 | 315 | 336 | 1,294 | 1,174 | 1,245 | 1,286 | ||
| • Electric Drives BD | 127 | 131 | 170 | 412 | 347 | 383 | 389 | ||
| • Controls BD | 1 | 3 | 6 | 678 | 649 | 685 | 700 | ||
| • Mechatronics & Modules BD | 173 | 181 | 161 | 204 | 178 | 178 | 197 | ||
| • Europe | 101 | 101 | 121 | 639 | 631 | 632 | 663 | ||
| • Americas | 62 | 65 | 58 | 196 | 193 | 227 | 218 | ||
| • Greater China | 101 | 114 | 123 | 255 | 169 | 177 | 186 | ||
| • Asia/Pacific | 37 | 35 | 34 | 204 | 180 | 209 | 219 | ||
| Cost of sales | -317 | -333 | -363 | -1,272 | -1,152 | -1,192 | -1,227 | ||
| Gross profit | -16 | -18 | -26 | 22 | 22 | 53 | 59 | ||
| • in % of revenue | -5.4 | -5.8 | -7.8 | 1.7 | 1.9 | 4.3 | 4.6 | ||
| Research and development expenses | -57 | -64 | -65 | -179 | -206 | -158 | -174 | ||
| Selling and administrative expenses | -35 | -35 | -37 | -81 | -85 | -97 | -110 | ||
| EBIT | -102 | -116 | -127 | -382 2) | -267 | -195 | -231 | ||
| • in % of revenue | -34.0 | -36.8 | -37.9 | -29.5 2) | -22.7 | -15.6 | -17.9 | ||
| Special items 1) | -4 | 4 | 3 | 153 2) | -2 | 2 | 42 | ||
| EBIT before special items | -106 | -112 | -125 | -229 | -268 | -192 | -189 | ||
| • in % of revenue | -35.2 | -35.6 | -37.0 | -17.7 | -22.9 | -15.5 | -14.7 | ||
| 2024 | 2025 | ||||||
|---|---|---|---|---|---|---|---|
| in € millions | 1st quarter | 2nd quarter | 3rd quarter | 4th quarter | 1st quarter | 2nd quarter | 3rd quarter |
| Powertrain & Chassis division | |||||||
| Revenue | 1,460 | 1,439 | 1,332 | 2,277 | 2,302 | 2,245 | 2,194 |
| • Engine & Transmission Systems BD | 1,316 | 1,294 | 1,201 | 1,221 | 1,242 | 1,175 | 1,195 |
| • Powertrain Solutions BD | 26 | 30 | 29 | 942 | 963 | 968 | 906 |
| • Chassis Systems BD | 119 | 115 | 103 | 114 | 97 | 102 | 93 |
| • Europe | 582 | 568 | 492 | 879 | 921 | 918 | 871 |
| • Americas | 402 | 402 | 374 | 605 | 660 | 644 | 632 |
| • Greater China | 270 | 271 | 270 | 486 | 407 | 381 | 402 |
| • Asia/Pacific | 206 | 198 | 196 | 306 | 313 | 302 | 289 |
| Cost of sales | -1,066 | -1,085 | -996 | -1,793 | -1,714 | -1,729 | -1,719 |
| Gross profit | 394 | 354 | 336 | 484 | 588 | 516 | 475 |
| • in % of revenue | 27.0 | 24.6 | 25.2 | 21.3 | 25.5 | 23.0 | 21.7 |
| Research and development expenses | -80 | -75 | -73 | -121 | -146 | -132 | -133 |
| Selling and administrative expenses | -101 | -99 | -96 | -138 | -150 | -163 | -175 |
| EBIT | 229 | 188 | 168 | 141 2) | 281 | 227 | 143 |
| • in % of revenue | 15.7 | 13.0 | 12.6 | 6.2 2) | 12.2 | 10.1 | 6.5 |
| Special items 1) | -21 | 1 | 3 | 112 2) | 4 | -4 | 99 |
| EBIT before special items | 208 | 189 | 171 | 253 | 286 | 223 | 242 |
| • in % of revenue | 14.3 | 13.1 | 12.8 | 11.1 | 12.4 | 9.9 | 11.0 |
| 1st quarter 2nd quarter 3rd quarter 4th quarter 1st quarter 2nd quarter 3rd quarter in € millions Vehicle Lifetime Solutions division Revenue 637 697 657 715 783 780 740 • Repair & Maintenance Solutions BD 499 536 498 480 541 538 498 • Platform Business BD 25 32 34 39 41 42 38 • Specialty Business BD 113 128 125 196 201 201 204 • Europe 418 456 438 460 514 521 486 • Americas 134 142 125 155 160 153 153 • Greater China 41 47 45 44 53 49 47 • Asia/Pacific 44 52 50 56 57 57 54 Cost of sales -418 -475 -444 -506 -529 -539 -511 Gross profit 218 221 213 210 255 242 229 • in % of revenue 34.3 31.8 32.4 29.3 32.5 31.0 30.9 Research and development expenses -5 -5 -6 -8 -11 -8 -11 Selling and administrative expenses -104 -104 -107 -124 -118 -124 -131 60 2) EBIT 118 112 100 124 111 82 8.4 2) • in % of revenue 18.5 16.1 15.3 15.8 14.3 11.1 Special items 1) 29 2) -10 4 4 -1 1 31 EBIT before special items 108 117 104 89 123 112 113 • in % of revenue 16.9 16.8 15.8 12.5 15.7 14.4 15.3 Bearings & Industrial Solutions division Revenue 1,662 1,679 1,599 1,585 1,627 1,614 1,570 • Industrial Bearings BD 802 829 791 760 779 794 762 • Automotive Bearings BD 689 664 635 643 645 627 626 • Linear Motion BD 104 107 96 98 108 100 95 • Aerospace Bearings BD 67 80 76 84 94 93 87 • Europe 728 715 648 639 676 685 651 • Americas 354 356 334 338 350 327 328 • Greater China 337 349 362 352 352 365 359 • Asia/Pacific 242 260 255 257 249 236 232 Cost of sales -1,154 -1,347 -1,248 -1,294 -1,205 -1,268 -1,244 Gross profit 508 332 351 291 422 346 327 • in % of revenue 30.6 19.8 21.9 18.4 25.9 21.4 20.8 Research and development expenses -57 -55 -54 -52 -62 -59 -63 Selling and administrative expenses -237 -234 -220 -232 -200 -210 -222 -189 2) EBIT 211 43 78 152 78 39 -11.9 2) • in % of revenue 12.7 2.5 4.9 9.4 4.8 2.5 Special items 1) 210 2) -59 7 4 12 15 85 EBIT before special items 152 50 82 21 164 93 125 • in % of revenue 9.1 3.0 5.2 1.3 10.1 5.8 7.9 |
2024 | 2025 | ||||
|---|---|---|---|---|---|---|
| 2024 | 2025 | ||||||
|---|---|---|---|---|---|---|---|
| in € millions | 1st quarter | 2nd quarter | 3rd quarter | 4th quarter | 1st quarter | 2nd quarter | 3rd quarter |
| Others division | |||||||
| Revenue | 86 | 118 | 67 | 84 | 38 | 37 | 37 |
| • Europe | 20 | 44 | 30 | 62 | 15 | 21 | 19 |
| • Americas | 0 | 1 | 0 | -4 | 1 | 1 | 2 |
| • Greater China | 4 | 16 | 2 | 10 | 10 | 5 | 7 |
| • Asia/Pacific | 0 | 1 | 0 | 16 | 12 | 10 | 8 |
| Cost of sales | -43 | -70 | -43 | -86 | -51 | -56 | -50 |
| Gross profit | -19 | -9 | -11 | -2 | -14 | -19 | -13 |
| • in % of revenue | -21.6 | -7.8 | -16.8 | -2.9 | -35.8 | -52.8 | -35.5 |
| Research and development expenses | -8 | -8 | -6 | -8 | -9 | -32 | -10 |
| Selling and administrative expenses | -8 | -5 | -5 | -5 | -6 | -5 | -4 |
| EBIT | -40 | -49 | -81 | -65 2) | -28 | -56 | -57 |
| • in % of revenue | -46.9 | -41.4 | -121.5 | -77.7 2) | -75.3 | -150.6 | -156.9 |
| Special items 1) | 0 | 9 | 21 | 45 2) | 0 | 25 | 31 |
| EBIT before special items | -40 | -40 | -61 | -20 | -28 | -31 | -26 |
| • in % of revenue | -46.9 | -33.8 | -90.6 | -24.2 | -74.3 | -83.8 | -71.9 |
Prior year information presented based on 2025 segment structure.
Tables do not contain any pro-forma information.
1) Please refer to pp. 10 et seq. for the definition of special items.
2) Prior year amounts amended.
Financial calendar Imprint
November 4, 2025
Publication of results for the first nine months 2025
March 3, 2026
Publication of annual results 2025
April 23, 2026
Annual general meeting 2026
May 5, 2026
Publication of results for the first three months 2026
All information is subject to correction and may be changed at short notice.
Schaeffler AG
Industriestr. 1–3 91074 Herzogenaurach Germany
www.schaeffler.com
Published by Schaeffler AG, Industriestr. 1–3, 91074 Herzogenaurach, Germany
Responsible for content Corporate Accounting, Schaeffler AG
Date of publication Tuesday, November 4, 2025
Investor Relations phone: +49 (0)9132 82-4440 fax: +49 (0)9132 82-4444 e-mail: [email protected]
You can find up-to-date news about Schaeffler on our website at www.schaeffler.com/ir. You can also download all documents from this site.
For better readability, this report generally uses only the masculine form when referring to groups of persons. Unless indicated otherwise, these statements should not be construed to refer to a specific gender.
Schaeffler in social media
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