Schaeffler earns more than expected in day-to-day business
The automotive and industrial supplier Schaeffler earned more in the third quarter than experts had expected. The company announced in Herzogenaurach on Tuesday that turnover fell by 4.2 percent to 4.06 billion euros due to the stronger euro compared to the previous year. Adjusted for special effects, earnings before interest and taxes were also 4.1 percent lower at 340 million euros. However, this was more than experts had previously expected from the Franconian company. As in the previous year, the adjusted operating margin was 8.4 percent. At the bottom line, consolidated profit fell by a third to 150 million euros. CEO Klaus Rosenfeld confirmed the outlook at Group level. However, he now estimates currency-adjusted sales growth in industrial supplies to be lower.
TheCar's sales performance in the third quarter exceeded forecasts, contributing to Schaeffler's overall earnings surplus. However, the company's quarterly figures for industrial supplies growth are now expected to be lower due to currency fluctuations, as announced by CEO Klaus Rosenfeld.
Source: www.dpa.com
